2 jobs and gifted deposit
Posted: Thu Mar 18, 2010 5:57 pm
I am interested in obtaining a home loan for:
Acre block of land $180 000
Construction of a house and granny flat $320 000
Total cost $500 000
Deposit Details - $60 000 gifted to me by my parents (has been in bank account untouched for 3 months
Applicant 1
Income Details: Job 1 $64 000 per year permanent part-time
Have been in position for 5 years.
No tax return as previous years in position I was actually a partner in the business (self-employed) but since restructured so I am an employee for 12 months.
Job 2 $33 000 per year permanent part-time
Have been in position for 7 months
Was previously employed in same position but took 4 years off to have children
Can supply Payslips,
Rental Income
I will be renting the Granny Flat to my parents for an expected $200 per week.
Current Loans Nil
Credit Rating Good as fas as I know
Dependants 2
Can you please give me an indication of whether I would qualify for a home loan with the above information. My main concern is that my deposit is primarily gifted and that I cannot supply tax returns to verify my income although I can supply other documents but I am unsure of whether these are sufficient. I can only supply 3 months bank statements to verify income as prior to that I was paid in cash.
Thanks for your help
Acre block of land $180 000
Construction of a house and granny flat $320 000
Total cost $500 000
Deposit Details - $60 000 gifted to me by my parents (has been in bank account untouched for 3 months
Applicant 1
Income Details: Job 1 $64 000 per year permanent part-time
Have been in position for 5 years.
No tax return as previous years in position I was actually a partner in the business (self-employed) but since restructured so I am an employee for 12 months.
Job 2 $33 000 per year permanent part-time
Have been in position for 7 months
Was previously employed in same position but took 4 years off to have children
Can supply Payslips,
Rental Income
I will be renting the Granny Flat to my parents for an expected $200 per week.
Current Loans Nil
Credit Rating Good as fas as I know
Dependants 2
Can you please give me an indication of whether I would qualify for a home loan with the above information. My main concern is that my deposit is primarily gifted and that I cannot supply tax returns to verify my income although I can supply other documents but I am unsure of whether these are sufficient. I can only supply 3 months bank statements to verify income as prior to that I was paid in cash.
Thanks for your help