Hi Everyone,
Whilst normally seeking inout from the investing side of the fence, I now have a need from the other side ….
My wife & I are renting and the landlord has just sold the property, giving us 5weeks to vacate!
We are seek stable long term accomodation, and whilst we would rent (2yr+ lease) if necessary, as we do not wish to keep moving our family around, we would prefer to consider purchasing.
We have good income but little deposit as $$ has been used to build our own investment ppty portfolio.
We are therefore seeking someone who might be willing to wrap a property to us, subject to affordability and fundamentals of course.
Brief details of likely deal:
Area (NSW): Hornsby, P/Hills, THornliegh, WPH, Cherrybrook. Castle / Baulkham Hills
Current Rent: Paying $400 per week ($1733 pm) but could do slightly more depending on the numbers
Income: Single (myself) but high with stable employment
Deposit: Not entitled to FHOG as already own ppty. Little deposit (< $5K)Can anyone assist, or recommend a starting point? Urgency is the key given our situation
Thanks in advance
Peter M[cap]Why not borrow 100% or 106% and buy a house outright?
Why give some bottom feeding wrapper a head start?
hi PeterM
There are a couple of brokers here who can help and they can get a high income loan for 106% loans.
I personally wouldn’t aim on that higher lending ratio but at the end of the day its the deal that count’s and if your income can pay a wrapper it can a loan.
This is not financial advice and should not be seen as such.here to help
the best place to start would be in the local paper classifieds for the areas you want live. Most vendor finance homes are advertised this way.
Furher to the comment by “Nat R”, you should not read and reply to posts that require the skills and brains required to make an educated and informed comment ouside your area of comfort. Not all people can get a home loan at the same time they want a home. It is not always as simple as “Go get a loan for 106%”. There are a lot of people who just cannot get the loan at all. Who are you to judge that they then are not allowed to own thier own home.
Originally posted by siacci:Furher to the comment by “Nat R”, you should not read and reply to posts that require the skills and brains required to make an educated and informed comment ouside your area of comfort. Not all people can get a home loan at the same time they want a home. It is not always as simple as “Go get a loan for 106%”. There are a lot of people who just cannot get the loan at all. Who are you to judge that they then are not allowed to own thier own home.
How about you play the ball and not the man (chick in this case)….I was merely suggesting a product that not everyone knows about which suits borrowers with high income & stable incomes (which this dude claims to have)…..don’t lose track of the fact that this is a forum !!!
Hi Peter,
I have posted you a PM I have a place in Seven Hills you may be interested in.Cheers
Kiwi
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