One for all you Brokers :)

Hi Guys,

Just seeing if there are any mortgage brokers out there wanting to crunch some numbers:)

I’m trying to work out (approximately) how much myself and my girlfriend could borrow – assuming I used the equity in my current IPs.

Here are our situtations;

Wayne Leech (Me)

My Assets:

3×2 in Merriwa (Perth)
– Mortgage owing on property: $120,000.
– Market value $210,000
– rented out at $195 a week.
– Mortgage is $170 a week.

4×2 in Merriwa (Perth)
– Mortgage owing on property: $219,000.
– Market value $245,000
– Rented at $210 per week
– Mortgage is $1270 a month ($318 a week.)

Car
– Ford Laser – market value $4,000

Shares
– Telstra Shares – $1,000

Personal Items
– White Goods/Furniture/sports gear/Computers etc – $15-$20,000

My Current Situation:

– Living with parents in Mindarie
– Weekly net income is $571.76 after tax. (Worked with the company for 4yrs+)
– Credit card limit: $1,000.
– No other loans / Debts

Lisa Russell (Girl friend)

My Assets:

Car
– Toyota Echo – market value $15,000

Car loan
– Total owing on Toyota Echo is $10653.55
– Loan repayments are $107/fortnight

Personal Items

– White Goods/Furniture/cloths/Kitchenware etc – $10-$15,000

My Current Situation:

– Living with parents in Woodlands
– Fortnightly income is $1,002 after tax. (Worked with the company for 1.5yr+)
– Credit card limit: $1,000.
– No other loans / Debts

If anyone could give me an approximate amount that would be great. We’re looking at purchasing a joint investment – at this stage, if we can afford it, it will be a block of land amongst the coastal strip of Perth.

Thanks in advance!

Wayne

Wayne Leech

*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)