Hi guys,
I am just starting out with my investing. I have a deal in NZ where a contract has been written up (subject to finance) with a longer settlement date to allow me to get my deposit together. Here is the situation..
House price: $69,000
Weekly rent: $165
My current weekly income after tax is $1500 with $200 expenses a week. I have only just started this job and have $4000 savings in the bank. What are my chances of getting the loan approved with a 5% or less deposit down? or is this dreaming? I am just wondering if it is worth submitting the application as I don't want to get an application rejected but also dont want to run the risk of missing the finance approval date.
I have a good credit rating and no other debts.
Any suggestions or comments would be appreciated.
Must admit i am not an expert on what NZ lenders are offering however in saying that i think in the current climate you have 2 chances and one of them is buckleys.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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