Is it possible to finance a house, without any or little personal income? Maybe by using company or trust?
eski
It is.
Depends on the size of the loan and the valuation.
If you have a 35% deposit nearly anything is possible.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I already have the house, so if I can get a valuation for the house which is 35% more then I need a mortgage for I should be cooking?
Thanks
eski
Eski,
If your total loan size is 65% or less of both property valuations then a NODOC is possible.
But talk to a broker first and find out exactly what your options are.
I don’t like to give advice without sufficient detail.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Why would you want to borrow more money when you don’t earn a income. Won’t you be too reliant on rental income? Sounds too risky to me.
Investing is about earning an acceptable return for your risk.
Cheers
Stu
At the moment I live in the property with two other people. We all pay rent which is more then enough to cover an interest only loan and the yearly rates. I want to mortgage the property to pay back the people who bought the property for me(parents) and so I will then be able to use current equity to purchase more +ve cf properties. Still climbing steep learning curve and not totally sure if this is right, but im sure there is a way.
cheers
eski
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