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  • Profile photo of CuttersCutters
    Participant
    @cutters
    Join Date: 2005
    Post Count: 1

    G’day guys. I am new to property investing and to this forum so forgive me if I have posted this message in the wrong spot!

    My question is, how many months worth of savings do you have to show proof of to banks to get a home loan? I know you have to show 3 months worth of pay slips, but not sure about saving.

    Pretty simple question, but this is where it all starts!

    Cheers

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    6 months is typical for a deposit of under 20%. it can vary though.

    Your broker or lender can advise if you give them specifics!

    Cheers,

    Simon Macks
    Finance Broker
    [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.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    You usually only need two payslips as well. Savings history is only required when mortgage insurance is involved above 80% LVR as Simon mentioned.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

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

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