Lo Doc recommendation

Any general questions you might have in regards to loans and finance.
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Canuck
Posts: 2
Joined: Tue Oct 27, 2009 8:16 am

Lo Doc recommendation

Post by Canuck »

Greetings

Expat returning home from North America

Situation is I will be wanting to buy a house asap upon my return. 800K range

Imalso buying a business whcih I intend to keep as a cash transaction and would like to keep my downpayment @ around the 25-30% range

What options are open to me?
Thanks

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Lo Doc recommendation

Post by Otto Dargan »

Hi Canuck

Your situation is a little complicated so we would likely have to see your full situation to work out exactly what can be done. We have done quite a lot of Australian expat loans and in many cases the borrower was just returning to Aus.

There are several ways you can get a loan here:

* If you buy before you leave your job in Nth America then we can go with a lender that can approve the loan on that basis at 80% of the property value.
* If you have an ABN in Australia then we can use this to obtain a low doc loan. The rate will be higher however you can usually refinance within around 3 years to a lower rate.
* If you borrow 60% of the property value then we can get you a very cheap low doc loan.

If you would like give us a call on +61 2 8668 4038 or email us and we can call you back using skype.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

Canuck
Posts: 2
Joined: Tue Oct 27, 2009 8:16 am

Re: Lo Doc recommendation

Post by Canuck »

Thanks for the reply Otto

I was self employed here and the business has just sold. Still I do have all the appropriate tax info showing good personal earnings

40% down I could do its just not preferential

Either way I will give you a call today

Simon

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Lo Doc recommendation

Post by Otto Dargan »

Thanks Simon we may be able to use your foreign tax returns as evidence of your potential earning capacity. This type of loan is available up to 80% of the property value and can be approved on a case by case basis. If we can do it that way then that would be great as you would get an excellent loan.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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