hi all,
if i have about 30000 in equity how/can i use it as a deposit to get me an investment property and how would i do that, step by step and which is the best loan to get to do thatYou can only borrow a certain % of a property’s value. Usually 80% without Mortgage Insurance. So you would have to work out like this:
Value x 80% less current loan = available equity.
The 80% could be changed up to 95% if you are prepared to pay LMI. In some cases you could even borrow 100% for investments.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You can only borrow a certain % of a property’s value. Usually 80% without Mortgage Insurance. So you would have to work out like this:
Value x 80% less current loan = available equity.
The 80% could be changed up to 95% if you are prepared to pay LMI. In some cases you could even borrow 100% for investments.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
