Hi All
Ok just wanting some advice really. My partner and I with 2 dependants brought a house 3 years ago. We owe $170000 and it is valued at $230000. We would like to rent out this house, which we could rent out for $250 per week, which covers our repayments and buy a second home for around $280000 but after seeing a broker was told its not possible. My partner earns $50000p.a but as only a casual worker I only earn about $150 per week. I also have a second job but have only been second employed for 3 months so no bank will take that as income yet. So bascially just wondering if any one thought this might be possible or if we should wait till I have been in my job for a year.
Aslo have been told we can stay in this property and buy an investment property for $160000, is that a good way to go?Anyway I would appreciate any advice.
ThanxAssuming all things are equal you may still be able to get the loan approved on the original basis you wished to purchase.
Additional information would however be required before an accurate assessment could be made.
Richard Taylor | Australia's leading private lender
Assuming all things are equal you may still be able to get the loan approved on the original basis you wished to purchase.
Additional information would however be required before an accurate assessment could be made.
Richard Taylor | Australia's leading private lender
Ok so are you saying it may be possible for us to do the first option. How would we go about doing that?
Would need all the facts first but on those incomes you would still qualify for a loan.
Richard Taylor | Australia's leading private lender
Ok so what other facts are needed? We have a car loan for $7000 and a credit card of $4000. Do you have any recommendations for any brokers in Adelaide or of any banks that we might be able to get finance through.
thanks for your helpDo you want to email a full break down of your income / liabilities as the car loan and cc were not even mentioned until your last post.
From the information you have given and subject to the length of your casual employment i still believe you would qaulify for a loan as you requested.
Richard Taylor | Australia's leading private lender
Do you want to email a full break down of your income / liabilities as the car loan and cc were not even mentioned until your last post.
From the information you have given and subject to the length of your casual employment i still believe you would qaulify for a loan as you requested.
Richard Taylor | Australia's leading private lender
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