All Topics / Help Needed! / Financing a CF+ Property with a bank

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  • Profile photo of btbt
    Participant
    @bt
    Join Date: 2004
    Post Count: 7
    November 8, 2004 - 4:07 pm

    Sorry to potentially ask a silly question but I am hoping to tap into the experience of the fellow members who have done this successfully.

    I have found a nice CF+ property, and am interested to know if the banks will loan you the money, especially if your high on your LVR and DSR.

    Does anyone have any successful strategies on taking such an opportunity to the banks?

    Thanks in advance
    Brian

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    Profile photo of NobleoneNobleone
    Member
    @nobleone
    Join Date: 2004
    Post Count: 146
    November 9, 2004 - 5:15 am

    Hi,

    Get yourself a good mortgage broker… He/she will do all the leg work and should know exactly which finance institution to approach once you have given him/her all of your financial details.

    They get paid by the banks so it costs you nothing. There are some brokers who are contributers to this forum.

    Cheers, Nobleone

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 9, 2004 - 6:29 am

    You may be able to borrow up to 95% of the purchase price, depending on the location and cost. Having a higher rent would help you qualify as well.

    Terryw
    Discover Home Loans
    Mortgage Broker
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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