We specialise in self-managed superannuation fund (SMSF) loans both new and established. Here’s a breakdown of all the funds required in your SMSF to purchase a $450,000 property with a SMSF loan:
- Deposit: 20% or $90,000 (Please note that even though you can borrow up to 80% of the property value. Most lenders limit it to 70% for newly established SMSFs.)
- Loan amount: $360,000
- Government costs/ stamp duty: $22,500 or 5% of the purchase price (Discounts may be available for off the plan purchases)
- Loan costs: $ 6,900
- Liquidity buffer: $ 27,000 (The buffer allows for 18 months worth of interest coverage at an interest rate of 5% p.a.) Not every lender has the same liquidity requirement.
We strongly recommend seeking financial and legal advice so other fees for Financial Planning/ Statement of Advice may apply.
Major banks stopped offering SMSF loans in 2018, however, there are a range of non-bank lenders and specialist lenders still offering SMSF loans. And some of them are offering competitive SMSF interest rates. That’s who we’re working with.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a SMSF loan.
Cheers,