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  • Profile photo of NoEndNoEnd
    Member
    @noend
    Join Date: 2006
    Post Count: 2
    July 7, 2006 - 9:26 am

    Hi all
    Im new to this forum and just looking for a bit of advice.
    Heres my problem.
    Im looking for a loan for a $200,000 property. I have around $33,000 for the deposit, and $7000 from the first home owners grant. But the big problem is that I have no proof of income. Im currently “umemployed”. I am getting money from a family business from overseas, but only starting to receive it now and no records of anything. Basically Im looking for a No Doc 80% LVR loan.

    Profile photo of Josh-PrestigeloansJosh-Prestigeloans
    Member
    @josh-prestigeloans
    Join Date: 2006
    Post Count: 62
    July 7, 2006 - 10:05 am

    NoEnd,

    Hope everything goes well with the first property. Here are a few lenders to check out Carrington National, Interrstar. They do NoDoc 80% Regulated.

    Please remember that you have to cover your cost for purchasing the house and plus the lenders fees. You may have 20% to deposit on the house, however there are lenders cost and purchasing costs. This will total a couple of grand. As your first home owner, you are exempt from stamp duty on transfer of land up to $250,000. Between $250,000 & 350,000 you have to pay this stamp duty but at a lower cost then normal rates. ANything above $350,000 then you pay the normal rate.

    Please any other questions, dont hestiate to ask!

    Hope this helps you on your way to becoming a property owner!

    Joshua McEwen
    Finance Consultant – WA

    Mob:0430 452 497
    http://www.prestigeloans.com.au

    Brokers Lic 1297
    Licensee Brett Christie

    Profile photo of NoEndNoEnd
    Member
    @noend
    Join Date: 2006
    Post Count: 2
    July 10, 2006 - 5:21 am

    Thanks josh for your help.

    I tried Carrington National and they told me i needed an ABN for 2 years [glum]. Do you know which brokers deal with Interstar so i could try them.

    Thanks in advance for your help.

    Rob

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 10, 2006 - 5:27 am

    Hi there

    We deal with Internstar wo would be happy to give you quote from them.

    Sorry could have told Carrington require 2 Years ABN.

    Richard Taylor
    Residential & Commercial Finance Broker
    **NODOC loans from 7.14%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 10, 2006 - 5:41 am

    Hi again

    In saying that Interstar No Doc is actually 70% it is the Lodoc deal that they will do at 80%.

    GE do not check ABN ‘s and Interstar until recently have been in the same boat. You do however need to declare an Income and a source of where the income is coming from.

    Email me if you want further details.

    Richard Taylor
    Residential & Commercial Finance Broker
    **NODOC loans from 7.14%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

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