possible loan for all things equal

Discussion in 'Loans & Mortgage Brokers' started by TREK, 4th Apr, 2021.

Join Australia's most dynamic and respected property investment community
Tags:
  1. TREK

    TREK Well-Known Member

    Joined:
    2nd Apr, 2021
    Posts:
    47
    Location:
    Dapto
    Hi guys, I jumped here from another thread I wrote in the general section from advice given by some friendly forum members.

    I currently have a small ip valued @ around 185-195k . I have around 100k in cash. I was wondering if it's possible to get a loan for around the 300k margin. I've been off work for a year and am just getting back into the workforce.
    Do you guys know if it's possible to get a loan given my situation or know anyone that could help facilitate such a move?

    Any Brokers, Feel free to pm if you're more comfortable privately, I'm new to this forum and still gauging how it all works.
     

    Attached Files:

  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,650
    Location:
    Gold Coast (Australia Wide)
    Not enough data

    Assuming your score is ok, the job is permanent, and not hugely diff from what you did previously I cant see an issue per se

    ta
    rolf
     
  3. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

    Joined:
    23rd Aug, 2015
    Posts:
    1,575
    Location:
    Bella Vista
    Definitely need to have a better discussion about your situation.

    Plenty of brokers on here capable of helping you out.
     
  4. TREK

    TREK Well-Known Member

    Joined:
    2nd Apr, 2021
    Posts:
    47
    Location:
    Dapto
    Thanks Tony,

    What's the best way to contact them here? Is there a list of brokers on this site?
     
  5. TREK

    TREK Well-Known Member

    Joined:
    2nd Apr, 2021
    Posts:
    47
    Location:
    Dapto
    Score is good, job is casual, would I need a permanent job for a loan ?
    I'm hoping using the property and equity I have as leverage
     
  6. See Change

    See Change Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,149
    Location:
    Sydney
    Spend some time reading the threads on this forum . It’s where the brokers answer questions .

    there is a private message facility on the forum .

    depends whether you’re happy to work worr to h someone remotely or like to work face to face .

    cliff
     
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,650
    Location:
    Gold Coast (Australia Wide)
    Most lenders want 12 mths some 6, and some non conforming probs 3 for casual

    Not usually into the non conforming non banks with their high rate alternative loans for buy and holds, but it does look like you have a defined exit strategy in 6 to 12 mths

    ta
    rolf