Getting an investment property loan requires you to show that you have a high income, and the chances of getting your investment loan approved are high if you meet the following criteria:
- You will need to show a sufficient deposit of at least 20% in most cases.
- Lenders are favourable towards borrowers who have saved up cash as a deposit in the bank for at least 3 months.
- Most lenders look for borrowers with a clean credit history and good credit rating.
- You have a strong income and stable employment.
To work out how much you can borrow, you can use our borrowing power calculator
. However, please note that lenders will shade your foreign income to account for exchange rate fluctuations.
You may be able to borrow up to:
- 85% of property value if you have a strong income and stable employment. Look into the 85% investment loan option for more details.
- 90% of property value if you have a fairly large deposit, clean credit history and an investment property that is easy to sell. Look into the 90% investment loan for more details.
A few select lenders even allow you to borrow more than 90% of property value
, but this is in niche cases where a borrower can show a large deposit, perfect credit history and a good investment portfolio.