Hi,
I’m looking at purchasing a home for about $120K with a deposit of $30K. I am 55, and only getting a regular income of $500/wk.I’m wondering whether a lender would even consider me for a loan?
Also on another topic, is there a restriction for brokers to sell loans in another state eg. a NSW broker to sell loans in QLD?
Thanks for the help in advance.
Welcome to forum!
Need to more information to tell you with more confidence. But looking at your situation if you don’t have any other big debt you should not be having any problem getting loan.
There is no restriction using other state broker. I have clients from every where.
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]NZ loan pre approval from austrlia in 48 hours
Hi Mortifs,
Your best option would be to contact a Mortgage Broker and have him or her crunch the numbers,In answer to your other question, Mortgage Brokers are not restricted to writing loans outside of their Home State; I’m based in Victoria and have client’s Australia wide.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
I don’t have any other assets except a car. What other details would you like to know? But based on the info so far it would seem reasonable to apply, or at least inquire?
Thanks for the advice re: broker and broker restrictions
Assuming no other debts I cant see that you will have any problems buying an IP for that money. Don’t forget the rent is also added to your income as well.
As suggested by the others just call a broker.
Ask family and friends for a referral or choose someone from here that sounds good.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
3 year fixed – 6.57%Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
A good broker like Steve (above) would be able to crunch the numbers for you in a few minutes.
You certainly look like you would be considered, you have the deposit and the loan is only small.
Steve’s a good broker, I don’t know him personally but you see his posts around the site he is knowledgeable and trustworth guy giving out lots of advice where needed…
Liz
Mortgage Lender
I agree, Steve is a great bloke.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
3 year fixed – 6.57%Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Simon kicks butt too.
Sometimes I get Steve and Simon muddled up as they are both such good quality… and there names….
etc..
Yes I’m blonde in real life too…
Liz
Mortgage Lender
Liz & Simon,
Thank you for the kind words,
Btw, the two of you are held in high regard on this forum, Cheers.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
This is turning into a love fest! [blush2]
Liz
Mortgage Lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
