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  • Profile photo of Joe2030Joe2030
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    @joe2030
    Join Date: 2009
    Post Count: 4
    December 25, 2014 - 7:49 pm

    Thank you for the details. I will be careful about that.

    Profile photo of Joe2030Joe2030
    Participant
    @joe2030
    Join Date: 2009
    Post Count: 4
    December 25, 2014 - 6:16 pm

    Thank you, Terrw.

    “Do not redraw funds and place into an offset as they will not longer be borrowed funds.”

    Sorry, I am not clear to me this. Can you elaborate about this?

    Profile photo of Joe2030Joe2030
    Participant
    @joe2030
    Join Date: 2009
    Post Count: 4
    December 24, 2014 - 4:09 pm

    Thank you everyone,

    Please correct if i am wrong. Based on your suggestions, I may ask my broker as follows:

    Loan account 1. the refinanced home loan (P&I) against PPOR.
    – 450k re-value (current home)
    – 270k outstanding
    – 90k funds out

    Loan account 2. an new equity loan (90k) (I/O) against a new IP.
    – 90k funds out from the loan#1.
    – Left out funds put in this offset.

    Loan account 3. new loan against a new IP (I/O).
    – 360k property price
    – 90k deposit+closing cost
    = 270k a new loan

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