The mortgage rate and the Fed Rate are 2 totally different indices.I see last week Fannie Mac dropped their rate to 4.84%.

What is it zoned, location, land area, quality of tenant and rent reviews to start with.

The approved limit is taken into consideration even if it is only partially drawn.

What is the original purchase price and what are they expecting to purchase the property for.

Again will depend on numerous variables. If it is cash flow positive then no reason why you wouldn't again purchase the property in your name if you are the lower income earner and have sufficient serviceability.Personally i prefer to buy + cash flow properties in a DFT rather than personal name but that is mainly for a combination of  Asset…[Read more]

Angelai would have been suprised that in the current low interest rate climate that too many cash flow properties would result in a considerable cash flow shortfall especially the older style properties with less Depreciation or BWO.With rates expected to fall again over the coming months i like Terry would certainly recommend a DFT structure…[Read more]

I think your above comment shows your total misunderstanding of what a good Broker can do for you.I must admit i would agree with the Broker you approched that i am suprised any major would discount their rates further than the standard for a loan of that size.Westpac have a standard policy issued out of Adelaide that no loan under $750K is to be…[Read more]

It depends to the extent of the defaults, to whom they are in favour when they were paid out and the amounts etc etc.

Sure whatever.Personally i have my portfolio structured that i can live of the rents for the rest of my live and have no need to ever draw on the equity. With a LVR now at 13% over 30+ properties  i expect to have the entire debt paid off in 18 months. Everyone to their own i guess but LOE is not for me.As time goes by i will merely start to sell…[Read more]

Accessing credit for any purpose days have been and gone.Some lenders will even want to draw the cheques payable to the end user. So if you say you are buying a car or investing in managed funds they will want to hold the funds for you and pay it out.A part time job will do you now good at all as clearly you wont be able to justify the loan on…[Read more]

No they are 2 different registrationsbut isn't the ABN a regsistration for GST.When you apply for an ABN you then have the option to register for GST. You are not required to register if you believe your turnover will be less than $75K PA.In saying this of course you would not be able to declare an income of $75K PA on a lodoc form as no business…[Read more]

That is a difficult one to answer as each clients position is different. Would need all of the information to make a recommendation.

95% is available with a few institutions even if you are an expat and you dont need genuine savings.

I assure you there is no hidden agenda or secret financing rules you simply require income to purchase in the current finance climate.

Sure does.

CBA require BAS statements over 60% LVR.

Friend cannot go on the Title so would want to be a very good friend to Guarantee your loan.Question is as only a friend would any lender allow the Guarantee….i am doubting it.

NeilSorry my old mate i think you are totally wrong in regards to:The point is … if these conditions are indeed being demanded by Australian banks1. only counting 65% of rental income This is not the case and most lenders will take between 75-80%. One lender even 100% of the rent2. requiring 30-40% deposit Again this is not the case. Until…[Read more]

Both CGT & the FHOG eligibility are based on the Contract date.If the purchase Contract is signed on or before 30 June 2009 then the purchaser is entitled to receive the additional Boost.

ShaneHow would you draw down a $100K a year when a lender wont finance living off equity ?