80% CBA home loan - family employed rejected for LMI last week

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Otto Dargan
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Re: 80% CBA home loan - family employed rejected for LMI last week

Post by Otto Dargan »

Hi Pango

CBA may consider your loan at 80% depending on the evidence that you can provide. They are less conservative than Genworth but they certainly wouldn't like your income doubling as they may see it as your family paying you more than the norm to help you to get approved.

CBA's systems are incredibly sophisticated and they share data with other lenders. It's likely they would see a lot more about your employment situation than what you put in the application. At this time of year it's usually easy to get a finance clause extension so don't stress too much, worst case then call us and we can apply with another lender that can accept the evidence that you can provide.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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