Jump to content
SAU Community

Recommended Posts

Refinancing a 400k loan up to 80% LVR (without incurring LMI)

400k * 80% = 320k

320 - 250k = $70k equity available (not $150k)

Interest only 5yrs repayment: $1,174/month @ 4.4%

$300/wk rental income = $15,600 income ($1,200/month)

Property near positive geared - excluding rates, body corp, maint, fees etc

800k house @ LVR of 90% if willing to pay LMI around $700k loan (estimate stamp duty applied as well)

$70k equity + $30-40k cash savings will fill the shortfall between Loan vs. House purchase

$700k loan @ 4.4% P&I = $3,500/month repayment

$150k incl Super income is around $8000/month income (after tax)

Bank usually says Single person living expense is around $1100/month (not sure what a couples monthly spend would be - lets say $2k)

$8000 - $2000 - $3500 = $2500/month left over

Don't see any issues with their borrowing vs. income. Could have missed some points, speak to your local mortgage broker on a more realistic assessment on your borrowing.

Pretty close...

We don't lend on the ability to make repayments at current rates lol

No one wants GFC 2

Pretty close...

We don't lend on the ability to make repayments at current rates lol

No one wants GFC 2

No one wants rape either but girls still dress provocatively

That's right I went there

true; the scenario still has a $2.5k monthly buffer so should be safe enough to lend.

You'd be surprised how quickly a surplus like they disappears when we assess lending, especially consumer mortgages where we are heavily regulated.

I doubt 2k living expenses I mean you'd likely have two car repayments two rates, insurance, bills etc seems low to me

HEM/HPI figures (which is what he was referencing) do not include other debts. They are over and above.

  • Like 1

Just get delivery? It's only $7. No store will have click and collect cause hardly any will have their allotment yet.

Sold out now...they must be bleeding them to the online store. Will prolly be available again soon.

Guest
This topic is now closed to further replies.



  • Similar Content

  • Latest Posts

    • Wife wanted basket things in the wardrobe in our temporary house. Thought about ripping our the wardrobe and fitting the entire IKEA set, but it's a temporary house and we want to move in a few years. So IKEA advertises this as a 50cm unit, however the actually basket and rails measure 46cm wide. Only issue was depth, IKEA stuff is quite deep, where as the builder special junk is super shallow at less than 40cm. Send it, chopped the rails, then offset the mounting holes, job done, happy wife, less shit scattered all over the bedroom. Did the same to the other side too. Also drove the Skyline shit box today, dropped off oil at Supercheap Auto. I didn't realise they only now take max 2x bottles per visit. I visited 2x Supercheap Autos.  
    • I've seen similar actually in my situation. You never know what tables are attempted to be used when the car thinks it's -99C or +200C. The fail state is not usually that extreme but you know what I mean - it was in my case though! This is where being able to read all the sensors is useful cause you see this stuff really quickly.
    • The above is very important. However as long as you keep timing relatively low, it's plausible to make your own knock ears and plausible to learn to tune with a modern ECU that can do wideband O2 correction like a boost controller. I mean if you only have one viable road to even drive the car on, learning to tinker to this level may be worth doing given you can't do much else with the car...?
    • I find the fact that the rear plate has to be bent inwards at the rear not so bad: but the front is just awful: It's like come on. (these are my very old, now retired/turned in plates) TBH it is a lot of money to fix a minor issue, the fact I said "I'll never really spend the money on doing this" is why people ended up buying them as a gift for a 'car guy' who can be hard to shop for.. for car guy things.
    • I just bent the ends of my premo plates. It even went through Regency like that after the engine conversion and the inspector (a great bloke!) just squinted his eyes and said "I didn't see that". Plates, and how they look, are just something that have zero importance to me.
×
×
  • Create New...