oh okthanks richardif they charge a higher rate, what do u think that would be?, or what would the lvr reduce to?might be getting too much?

Postcode would be 4802

in terms of the short fall, wouldnt I make a contribution into the fund from income earned?, up to a max of $50,000 per year, which after the 15% contribution tax, would be $42500. That would be enough to meet the obligations of the fund.do you set up SMSF?, if so, how much does that cost?is 9.1% the lowest rate?…also is interest only a…[Read more]

yes, but non concessional contributions (ie those that are personal contributions and not caimed as a deduction) for the 2007-8year has been capped at $150,000.that means I can put some of my savings into the super fund, add that to the $50k already in the account are there is the 20% deposit… i would then only require a 80% lvr loan…in te…[Read more]

how much can u put into the fund per year?do they lend for postcode 4802?if the lender will lend at 85% lvr, and with $50,000 in the fund,  that could mean i could borrow $283,000, giving a purchase price of $333,000, but nothing in the fund to pay for stamp duty, etc, and if you cant make much of an addiditional contribution, then it wouldnt…[Read more]

thanks Richardis it harder to borrow funds in the Fund name?, like does the lender take into consideration ongoing employee super contributions, etc?, do they still do a credit check, even though its a fund?is it easy to just put money into your super fund?, or do u make the contribution when you start the new fund?are there maximum amounts you…[Read more]

what is the LVR reduced to?are u able to use a cash deposit in addition to the $50k in super?what is a non recourse loan?thanks!!

ouchthats really expensive, dont you think?someone was telling me that they invested their superannuation money into property, they used what was in their fund as a deposit, and had the super payments paid into the loan account together with the rental money from the property, and that was enough to meet the obligations.i think their accountant…[Read more]

ok coolhow much would be LMI then?

I checked on the pmi website for postcode 4802, says max lend $750,000 for 90% loan, that would give a purchase price of $830,000…Am I understanding that correctly? or is there another mortgage insurer?

Hi RichardThanks for that. I am guessing it might be a better idea to use a 10% deposit and do a 90% lend, the LMI is too high on a 95% loan, or higher. What is the LMI on 90%?In the past I have had a St George 100% loan, there was an equalisation fee, rather than LMI. Im not sure if there is a maximum lend on this loan?, but the interest rate was…[Read more]

thanks for thatare 100% loans available for this postcode and at that level?what would be the lowest deposit I could get away with?