What is min deposit on $3-4Mil PPOR

Discussion in 'Loans & Mortgage Brokers' started by B-Mac, 16th Jun, 2020.

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  1. B-Mac

    B-Mac Well-Known Member

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    What is the absolute minimum deposit for PPOR purchase $3-4mil?

    Buying Sydney eastern suburbs

    Does any lender do 5%? Or 10%?

    Rate needs to be relatively decent and have offset account.

    Thanks
     
    B-Mac, 16th Jun, 2020
    #1
  2. Lindsay_W

    Lindsay_W Well-Known Member

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    20 - 25% pretty standard at that price point, regardless of borrowing capacity.
     
    Lindsay_W, 16th Jun, 2020
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  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Occupation ?
     
    Paul@PAS, 16th Jun, 2020
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  4. Morgs

    Morgs Well-Known Member Business Member

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    Medico? Might be able to do 90% with some lenders

    Non medico wouldn't be an option as the loan size / LVR is above LMI thresholds
     
    Morgs, 16th Jun, 2020
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  5. B-Mac

    B-Mac Well-Known Member

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    Self employed in Financial Services
     
    B-Mac, 16th Jun, 2020
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  6. Lindsay_W

    Lindsay_W Well-Known Member

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    What you'll find is most lenders have a LVR cap on resi properties worth more than $2.5M, the cap is usually 75 - 80% Max LVR
     
    Last edited: 16th Jun, 2020
    Lindsay_W, 16th Jun, 2020
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  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    5 % :)

    Imagine the LMI premium


    even at 2500 k buy with a 95 % lend the LMI is 101 000

    ta
    rolf
     
    Rolf Latham, 16th Jun, 2020
    #7
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