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