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Margaret

2 years ago

Hi Sam, I'm based in Perth, so if you have limited deposit, I can present the option of 98% lending, which means you only need to contribute 2% depsoit and only 1 % needs to be demonstarted as genuine svings over 3 months. However we need to determine you eligibility by obtaining more information regarding your employment status, income etc. Please do not hesitate to contact me to discuss other options too.

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Melanie

2 years ago

Hi James, I have access to lenders who can offer a specialised product for your situation. Please contact me and I'll run through your options with you.

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iqbal

2 years ago

hi James we can help you please contact me through my view profile and we are happy to help regards iqbal

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Graeme

2 years ago

Yes you should if you have the income and the the solid back ground you indicate. You will need to met the terms and conditions of the lender applied to and a sufficient deposit. Have look at my wall/profile and get in touch. Graeme

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Nathan

2 years ago

Hi James, I can assist you with your options and confirm the deposit requirements and max borrowing ability for your current situation. Feel free to get in touch for a detailed discussion

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Laurayne

2 years ago

Hi Jason,If you are based in NSW, we are happy to assist. With a good rental history borrowing 95% should not be a problem as long as you have the borrowing capacity. If you wish to discuss further please do not hesitate to make contact with us through our profile. Regards Laurayne

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Steve

2 years ago

Hi James, Yes there are lenders that can help, although not many & rates are a fair bit higher at that LVR. As long as you do the contract/s & loan in the same name as the rental ledger with an external agent for a minimum of 6 months, you can get a 95% loan. Happy to discuss this & some other options that may assist you - regards Steve

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Damien

2 years ago

Hi James, as long as you have a good rental history (six months or more ) evidenced via a Licenced Property Managers letter, and ability to service the loan , plus 5% deposit / fees there are a few banks that do this as a niche . If you are WA based feel free to touch base for more info.

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Greg

2 years ago

In case you haven't gone to my profile I have almost 13 years experience broking. Regards Greg

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Greg

2 years ago

Hi there James, So long as you can provide a 6 month history regarding the rental income and you can service the debt then yes you are able to do so. It will only take a few minutes to check your details to make sure. Contact me if you want to find out for sure. Kind regards Greg

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kelvin

2 years ago

As advised from other brokers - not all lenders require genuine savings to borrow up to 99%. That % will be higher. Not sure of your purchase price: example $500k - borrow $495k - deposit needed $27k- 5.34% = 2,764.18 per month. This is achievable with no credit cards or other loans - clean credit - 2 working @ $45k per year PAYG. Its generally a short term plan which is then refinanced after 2 years once valuations changed or loan is reduced - ideally < 80% - else LMI is payable again.

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Shane

2 years ago

G'day James, as all of my fine colleagues have mentioned. It can all be done. I am in QLD and have a few builder contacts to add extra value if you'd like to give me a call sometime. Have a great day mate.

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Glenn

2 years ago

Hi James, As the other brokers above have mentioned you don't need genuine savings for certain lenders if you have a sound rental ledger from a licensed real estate agent over a 6 to 12 month period as a minimum. Some lenders will even accept a non-genuine savings applicant and no rental ledger but their interest rates are higher than the normal rates advertised for that Loan to Value Ratio ( LVR) and construction type product. The best thing to do is to contact an experienced broker and have them take a snapshot or look at your whole unique financial situation and then you can be provided with relevant lenders who can assist and help you reach you goal? A broker can't just say they can help you with out knowing your whole financial situation and also your employment history and borrowing capacity. Kindest Regards. Glenn

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Anita

2 years ago

Hi James, I happy to assist, if you can please call me. Thanks Anita

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Thuy

2 years ago

James please send me your phone through my email and i will contact you and give you more information

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Dimuth

2 years ago

Hi James, Not a problem. We have some banks we can work with and even go up to 99% . Let's look at your borrowing capacity and find out whom you bank with? You are not wasting your time I am very positive about getting this loan for you. Please click on my profile and will take the next steps. Looking forward to meeting with you and obtaining the loan for you. Kind regards Sam

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Thuy

2 years ago

Hi James answer is YES

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James

2 years ago

Thanks Thuy - is it available for construction? I am looking for house and land package

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LEZLI

2 years ago

Hi James, Rental history can be used as savings. Also I've got lenders who don't care if you don't have genuine savings. Plus you get the FHOG & depends on which State you are in - there are other benefits - such as 1/2 stamp duty till 30/6/17 or NO stamp duty from 1/7/17 in Vic. I do loans all over Australia - so can help you - no matter what State you are living in. There are special rates for FHO at the moment starting from 3.69% fixed - which you can do for the land purchase & split with a Variable rate for the construction till house is finished. Look forward to hearing from you. Lezli

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Thuy

2 years ago

Hi James as I said no gen saving is fine, and you can borrow up to 99% including your LMI. let me know, i will help you with the process .

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Erol

2 years ago

Hi James, You are not wasting your time. Yes there is lenders that will consider a loan application with no genuine savings. There is also lenders that will take your current rent paid as your genuine savings. You also have the option to use your parent's house as security for deposit and you could avoid LMI all together. Your mortgage broker will be able to run you through all of these options. All the best.

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James

2 years ago

Thanks all, I should mention I'm in QLD so yes FHOG will be used as funds to complete but my understanding is it's not considered to be gen savings

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Sarcia

2 years ago

Hi James, this is definitely possible depending on a couple of things.. how long have you been at your current address and is it through a real estate agent you pay the rent to? There is also the FHOG that is applicable, depending on which state you are in, and whether you are building or buying established? If you would like to get in contact I can make sure that we can tick all of the boxes. Thanks, Sarcia

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Ian

2 years ago

Hi James, I do this all the time. You can definitely build and get funding without having savings in the bank right now, There are obviously lots of other factors (income, other debts etc etc) but you're not wasting your time. What state are you in? I can definitely help you out.

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Thuy

2 years ago

Also you get $20k from FHOG as your deposit

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Thuy

2 years ago

Hi James if you rent though real estate agent more than 6 months and have fund to complete the transaction, i have bank will lend you up to 99% including your LMI. if you like I can meet you and go though everything with you .

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Adrian

2 years ago

Hi James, No gen savings? no problem if you have the rental history. I have the lender for you, contact me and we can work it all out for you Regards Dom

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