Matagascar replied to the topic Investment property loan, unemployed, large deposit in the forum Finance 11 years, 10 months ago
Thanks guys for all of the information! The consensus seems to be that I should really look at getting an income for both a safety net and to help with the loan – I'll definitely be doing this. Something that I forgot to ask is the possibility of doing what I originally asked about though with a parent cosigning the loan. I don't think I'd ever do…[Read more]
Matagascar replied to the topic Investment property loan, unemployed, large deposit in the forum Finance 11 years, 10 months ago
Rick sta wrote:
Have you taken into account purchase costs such as stamp duty, legals etc.?Have you taken into account body corp/strata fees, rates etc.?
Yeah mate.
Matagascar replied to the topic Investment property loan, unemployed, large deposit in the forum Finance 11 years, 10 months ago
Jamie M wrote:
Matagascar wrote:
So you don't think not having an income at the time of application would be an issue?Hi Mat
Welcome aboard.
I can't speak for other brokers but I would have an issue with it.
We need to assess your situation and ensure that you can service the debt – if you're not generating an income, then it would be…[Read more]
Matagascar replied to the topic Investment property loan, unemployed, large deposit in the forum Finance 11 years, 10 months ago
So you don't think not having an income at the time of application would be an issue?
Matagascar replied to the topic Investment property loan, unemployed, large deposit in the forum Finance 11 years, 10 months ago
It's a simple 2 bedroom unit, 1 car garage, 1 bathroom. Thanks in advance for your help.