Hi All
I got pre-approval from CBA through a broker. I still do not know the final rate because the broker told me that I will have the final rate once I located the property.
my purchase: $680.000 with 80% ratio . Location: sydney west
I just have some questions:
– what is your current rate with CBA (Investment)?
– with my current details, is CBA good for my first investment property?
-i got pre-approval CBA, is that possible for me to jump to another bank if they offer better rate?
From my understanding, we can not have multiple pre-approval at the same time??thank you very much!
Focus on building a strong investment lending structure, than rate. Else you can switch to a product which saves you $10 a week, but stops you from buying 3+ more properties. Which is going to get you closer to your goals and financial freedom?
Multiple pre-approvals means multiple credit hits, every hit decreases your credit score and makes you look less favourable in the lenders eyes. In the long term this can mean you can be DECLINED for loans even if you have strong borrowing capacity and assets.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
We are with cba for 1 ip.
Had the best rate 2years ago,4.15%.
Now increased to 4.59– what is your current rate with CBA (Investment)?
Currently getting 4.37% for clients – but your broker may not have access to that rate. It’s for a limited time too – so might not be applicable once you find your IP.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
We’re negotiating some reasonable rates with CBA at the moment – PPOR fixed rates down as low as 3.99%, IP fixed at 4.19%. Variable investment rates at ~4.37%.
With the refinance rebates they’re also offering, it makes for a competitive offering for those looking to move.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
The CBA offer at the moment is pretty compelling, but there are also some smaller lenders that are very competitive. We have a white labelled Resimac product that is at 3.99% (term loan with offset or LOC) with no penalty for interest only, but the catch is that it has to be secured against a PPOR. We had the same rate for IP’s for a while, but unfortunately it has gone up a little though its still competitive at 4.39%. There are some other decent offers out there as well.
Regards
Indeed – also a 3.99% 3 year fixed rate available for both investment and owner occupiers. This one won’t be around for long no doubt before it’s snapped up.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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