Hi Alphrz.

The only thing i noticed is that the LMI looks to be a little low…

Check out the table on this page: http://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-premium-rates/

and that will show you a much higher LMI based on your numbers, id just be careful with that… there are different companies that provide LMI so the…[Read more]

I know somebody that was in the same situation as yourself.

He actively approached mortgage brokers and explained that they want to pursue a career in broking… His response was quite good, it all depends on what you can bring to their business.
For example if you are fairly young you will be able to tap into a very large network of new…[Read more]

Hi Anc111…

This is a calculator that i came across in another forum and i think you will find it very useful

http://www.loansource.com.au

It will let you add your purchase price, deposit and calculate your stamp duty, lmi, grants etc. then will work out how much your loan amount will be and use that figure for calculations.
you also enter your…[Read more]

hey anc111.

The replies you are getting are generally spot on.

But just to address your statement "However, the whole interest only suggestion is confusing to me to say the least"

It took me a while to get my head around the Interest Only concept to begin with also.
I kept thinking… 'But, i WANT to pay the loan off eventually!! "

Interest…[Read more]

I over-insured my life for $1.5m.
If something bad happens you would want things to be as easy as possible for your family would you not?!