Can anyone help me.
I want to buy another ip. Can anyone tell me what my monthly repayments would be on an interest only loan of say $160K.
Also, my BANK won’t lend us any more money as we already have 3 properties with them and they say the equity needs to increase before we can do it again. Also, I don’t want to keep all my eggs in one basket anyway. Any suggestions.
Originally posted by Shelley D.:I want to buy another ip. Can anyone tell me what my monthly repayments would be on an interest only loan of say $160K.
Debt X Int Rate/12 = monthly repatments.
This will give you monthly repayments – albeit there will be slight variation due to 30/31/28 days/per month issues.
Also, my BANK won’t lend us any more money as we already have 3 properties with them and they say the equity needs to increase before we can do it again. Also, I don’t want to keep all my eggs in one basket anyway. Any suggestions.
This situation is where a broker is invaluable. Especially one that is familiar with the needs of a property investor.
Consider sitting down with a broker.
Consider lenders mortgage insurance across your whole portfolio or parts thereof.
Maybe a different lender with policies more suited to your indvidual situation.
Consider alternative lenders other then mainstream banks.Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Thanks Derek, can you refer anyone direct to my privat email address. thanks again.
Hi Shelley,
What is your LVR and DSR?
Will servicing the loan be a problem?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorWhere do you live Shelley?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Shelley,
Who do I recommend?
I suggest you have a number of worthwhile contributors on this forum who could be of assistance. Read their posts and see which one/s strike a chord with you and then give them a call. You have in front of you a ‘few’ that have put their level of knowledge and demeanour in the public arena.
You will be surprised what can be achieved through email, fax and phone. To me the greater issue is quality of advice and not distance
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
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