Hey All, I have a question about ANZ’s DTI situation. I see online they do not accept applications with a DTI above 9. Applications above 7 will be sent to someone at the bank to look at. What would make the bank accept/reject a Borrower with a DTI over 7( and below 9) ? Eg too much rental income, high living expenses, new job, second job income included. Part two- any other big banks have DTI above 7?
Lots of lenders accept a DTI above 7. Above 6 it is a measurement of risk and can be mitigated by any number of factors. There are some clear parameters such as LVR, but often there isn't a clear rulebook. If your DTI is above 9 you likely will not pass the (more important) NSI ratio. Not all lenders use DTI as a medical.
Above 7 is pretty standard if you have multiple properties. Banks like the Westpac group needs a senior to approve the loan if DTI is above 7, as long as you have a loan that's P&I to mitigate it will go down below 7 over the long term, you'll be alright. Anz I've had it approved with DTI above 7.
Get in touch with NAB private banker (one who knows what they doing) failing that firstmac at 80% should be easy.
Just realised I’ve forgotten some information. It will be a guarantor loan. Will this makes a difference with ANZ?
The Loan will be guarantor. Will this be ok? What was the DTI. I’m hoping they will accept 7.7-8. Do you think this will be pushing it? Cheers
So a P&I loan should be satisfied? I currently have 3 IP. This will be a PPOR with a partner and a guarantor loan.
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