I did not include capital growth in my calculations. The time should certainly reduce with capital growth but that applies to both P&I and IO so I...
Based on my calculations it would take ~ 5 years to get to 80% LVR
Thanks Peter, let's assume I was able to, which option would you go for?
Yeah that is certainly an option I am considering if I go with P&I. I would like to buy another property as soon as possible and I am worried that...
Yes, the question is do I go with P&I and save on the LMI and interest thanks to a lower rate OR do I take IO with higher rate and LMI but the...
That's right, only P&I offers no LMI. Trying to see which one works out better. The P&I makes much more sense from cost savings perspective but...
Yes, in my initial post I am referring to 90% LVR owner occupied loan.
No, the same amounts. Looking at First Home Loan Deposit Scheme (FHLDS) where you pay no LMI up to 95% LVR.
Could you please point me into the right direction so I can do more research in that area?
Thanks for your inputs Terry_w and C-mac. I checked with 3.59% IO rate and the difference in repaid principal after 5 years is approx. $8,000...
Hi all, Looking for your opinion on the impact of P&I and IO loans given the following strategy: Purchase a property as a PPOR and build enough...
Separate names with a comma.
