G’day guys. I am new to property investing and to this forum so forgive me if I have posted this message in the wrong spot!
My question is, how many months worth of savings do you have to show proof of to banks to get a home loan? I know you have to show 3 months worth of pay slips, but not sure about saving.
Pretty simple question, but this is where it all starts!
Cheers
6 months is typical for a deposit of under 20%. it can vary though.
Your broker or lender can advise if you give them specifics!
Cheers,
Simon Macks
Finance Broker
[email protected]
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.
You usually only need two payslips as well. Savings history is only required when mortgage insurance is involved above 80% LVR as Simon mentioned.
Robert Bou-Hamdan
Mortgage Adviser
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