Hi,
This is for a residential property investment.
Can anyone help put me in contact with such a provider? I assmue their will be a provider out there willing to engage?
Thanks
JakeIf you’re in a certain profession or an employee of a lender perhaps.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Jamie – thanks,
Do you have a contact?
Regards
JakeHi Jake
I’m a mortgage broker – I have lots of contacts in the finance world :-)
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Do you think anyone likes to pay LMI? ;)
Certain professionals and lender employees can get 90% no LMI on their loans as the lender must view them as low risk/valuable customers.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
LMI isn’t that big a deal is it? A couple of thousand generally…just pay it and say thanks for the hundreds of thousands you’ve bequeathed to me.
You will have to pay LMI if you borrow oer 80%, however there are some lender which waive LMI for certain professions at loans up to 90%, including refinancing.
These professions include:
Medical doctors
Pharmacists
Dentists
Vets
Accountants -CA or CPA qualified
Lawyers
Engineers
Quantity surveyorsTerryw | 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
There are also a few other requirements other than just your Professional requirements.
Minimum income etc.
LMI is a Tax deductible expense however I agree if you can avoid paying it all well and good.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Also think it was a few years since Tommy last purchased as LMI premiums have gone up rapidly and for a loan over 300K it is certainly more than a couple of thousand.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
If you pay 10k in LMI and break it down as follows it seems less nasty;
$10,000 x 5% = $500/52 = $9.61/week in interest payments which is tax deductible.
So about $6/week out of pocket for the average wage earner.
-
This reply was modified 9 years, 8 months ago by
Colin Rice.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
That coupled with the fact that the premium itself is deductible over 5 years or the term of the loan whichever is lesser.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Also add to that list professional athletes and people from the entertainment industry. They too are eligible for 90% no LMI.
Alternatively you can try Citibank at no LMI for 85% LVR.
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Also add to that list professional athletes and people from the entertainment industry. They too are eligible for 90% no LMI.
That’s pretty cool – I didn’t know about the entertainment industry – then again, there aren’t too many celebs in Canberra :-)
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
No and politicians definitely aren’t exempt.
In fact they get charged double lol.
Cheers
Yours in Funance
-
This reply was modified 9 years, 8 months ago by Richard Taylor.
Richard Taylor | Australia's leading private lender
You are actually lucky to be located in Canberra Jaime because Politicians can get the 90% LMI waiver too.
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Is there any Financial Institution that can lend against Investment Properties in USA?
Hi Kev
None in Aus that I know of – but must admit, US investing isn’t my forte.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
No Australian institution would lend secured by overseas property because of the different jurisdictions – enforcement and taking possession of the property etc would all be under American law and therefore complex and costly.
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
Is there any Financial Institution that can lend against Investment Properties in USA?
As Tezza said – no Australian institution will that I am aware of however there are US lenders that will lend to Aussies. We do the SMSF side which is quite complex, however you can buy in your personal name and get a loan from a US lender too….
Cheers, Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
Email Me | Phone MeSMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
You are actually lucky to be located in Canberra Jaime
Haha – first time I’ve heard those words….and from a Sydney sider!
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
-
This reply was modified 9 years, 8 months ago by
You must be logged in to reply to this topic. If you don't have an account, you can register here.
