hi everyone
hubby and i are looking at purchasing our first home but im really affraid we have missed our boat
long story short 10 years ago we went bankrupt over cars.
since then weve learnt alot, but is it too late?
so heres our situation hopefully someone can shed a few answers for us
we both currently work with hubby bringing home $1400 F/N and myself about $1000 after tax
we have 2 children
we only have about $5k deposit
We rent from inlaws ( this is the killer and i really need to get out of here for my own sanity ) and need out asapis it possible? would banks looks at us? what could we possibly afford?
thanks for reading and hopefully someone can help answer some questions
Assuming your CRAA is totally clear and you can come up with circa 10% deposit (You will probably need all of that) as depending on your ages your Credit score will not read well with Assets / age.
May get 95% lvr so on a $300K property would need 15K plus acqusition costs minimum.
If any credit impairement still showing then unlikely to get much at all.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
thanks
all credit is clear. did a videa ( i think thats what its called ) check and all was good
we would only be looking at $240k max
i am 31 and hubby is 33 with no big assetts just the usual cars and household stuff
we do also have a $10k personal loan but hoping to pay that off"Veda" but close enough.
P/L would have to have gone as that will really drag the credit score down.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
haha i new it was something along those lines!
thought we would need to pay that off first
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