FHOG X 2; for me and gf for our first ppor?

Viewing 5 posts - 1 through 5 (of 5 total)

thek
Member
@thek
Join Date: 2005
Post Count: 16
October 6, 2005 - 6:45 am
Can it be done?
We are most likely going to be getting sepatate loans.
We are both eligible for the fhog so it seems such a waste to only use one.
For the full info on my current situation and future property investment plans go here;
https://www.propertyinvesting.com/forum/topic/20043.html
Thanks.
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
October 6, 2005 - 7:14 am
If you are both entitled and not married or de facto then you can both use it.
Not for the same property though.
You will also need to ensure that neither of you are on the other’s title. So one property each is the answer.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
October 6, 2005 - 8:04 am
Keep in mind you and your girlfriend will need to qualify for finance independently, i.e. One income per loan. Cheers.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au
PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
thek
Member
@thek
Join Date: 2005
Post Count: 16
October 6, 2005 - 10:25 am
Originally posted by Mobile Mortgage:
Keep in mind you and your girlfriend will need to qualify for finance independently, i.e. One income per loan.
And there is the curveball. I VERY much doubt we would individually qualify for the loans as our incomes are very low .($500 after tax per week)
If I used my parents 340,000 owned house to guarantor each separate 220,00 loan then it might be possible.
What do you think?
Thanks for the help Simon and Steven.
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
October 6, 2005 - 11:28 am
You really need to discuss this with a broker or lender – is difficult to do anything online like this.
If your parents are willing to help a lot then it might be easier.
Also depends on what the prices are of the sort of property you are interested in.
So many variables!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.