PropertyInvesting.com | Dustin McMahon | Activity

Dustin McMahon replied to the topic Home equity confusion - please help clarify! in the forum Finance

Tue, 14 Jul 2015 05:55:18 +0000

Unfortunately if you can’t afford it you are correct a bank won’t lend the money to you even if you do have the equity as bank don’t wnat to be selling that equity to get thier money back.

However Richard was asking you who told you that you cannot service, as there are many different lenders who all have different calculators. If you are…[Read more]

Dustin McMahon replied to the topic Mortgage House in the forum Finance

Tue, 14 Jul 2015 05:20:26 +0000

99% lend generally means they will lend 95% of the property value and add the full LMI to the loan. where most lenders will only add LMI to a total value of 97%.

regards
Dustin McMahon
0430 110 304
dustin.mcmahon@nectarmortgages.com.au

Dustin McMahon's profile was updated

Tue, 14 Jul 2015 05:17:58 +0000

Dustin Mcmahon replied to the topic PPOR becoming an investment property and maximising interest deductibility. in the forum Creative Investing

Tue, 14 Jul 2015 05:02:47 +0000

Where many people get confused with the tax deduct ability of loans is worrying what the loan is secured against. In the eye of the ATO it doesn’t matter what the loan was secured against, it is what the money is used for.

As much as you move the funds around between loans, essentially you are taking cash out and this is not being spent on your…[Read more]