All Topics / Help Needed! / IO loan vs. P&I loan – First home

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  • Profile photo of jezza1jezza1
    Member
    @jezza1
    Join Date: 2008
    Post Count: 17
    September 29, 2008 - 8:27 am

    hey guys, just wondering the difference between an IO and P&I loan if i want to buy my first house.

    i only want to live in it for a year to get tax benifits.. then rent it out..

    any suggestions???

    cheers!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 29, 2008 - 10:14 am

    Def get an IO loan. Make sure you have have a 100% offset account attached and place all spare money into this account. This method will help you save interest and get the most tax benefits later.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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