Just read an article in API mag about a couple that access enough finance to fully fund all costs on their investment properties. This ranges from 100% up to 140%. the only thing I could glean from the info on how they do this is it says they “increase their line of credit” to do so. Does anyone know what they would be doing to get this??
I am particulary keen to learn how to access more than 100% to fund some flips, so there’s no need for money down!HappyHomes | HappyHomes
Email MeYou won’t find a lender lend you more than 105% unless you have equity in another property.
Some lenders will go upto 106% for Owner occupied purchases but this still incurs establishment costs etc and will eat away the additional borrowing.
If equity is not available then try and negotiate that the Vendor leaves some money in the deal and you can fund the rest i.e 80/20 or 90/10.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Cool suggestion![suave]
First Permanent Financial Services offers up to 106% lending for both owner occupiers and investors. 106% is the maximum LVR based on the lower of valuation/purchase price and after fees/stamp duty etc have been capitalised. Cross-collateralising is not required, no additional equity needed.
Personally, I am not aware of any other lenders lending above 104% without using additional security.
Jacqueline Moysey
Relationship Manager
First Permanent Financial Services
[email protected]Any views or opinions expressed in this message are those of the author.
First Permanent Financial Services shall not be liable in anyway whatsoever for any loss or damage resulting from the reading of this message or the use of information contained in this message.
I know of one who will do 105% but the rates are rude! Then again not really when one considers the fact the are fronting with more than the value of the property.
I would think to access 140% one would be needing to cross collateralise.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055
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