Menu

About us

HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

Contact us
person img
verified icon broker img

Phillip

3 weeks ago

Hi Nitin, I've worked out on one of the lenders' calculators that you can borrow about $410K, with interest rate of 3+%. Also you will be eligible for First Home Owner's Grant if you purchase a new property. Happy to discuss further privately. Cheers

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Mitch

3 weeks ago

Hi Nitin, thanks for the clarification. I can make some enquiries with some specialist lenders if you would like me to. I have done some initial sums and if the tax free income can be accepted you will have affordability for what you are wanting to do. There will just be some considerations like mortgage insurance and some other qualification criteria. Your interest rate might be a little higher than the best in the market but I would take the approach that soon as you finish the scholarship and are on fulltime income you would be in a great position to refinance when you qualify for a very low rate. If you would like me to look into it more and spend some time finding exact options let me know & connect with me and I can work on it asap to give you an answer. thanks

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Nitin

3 weeks ago

Thank you Phillip and Mitch. Taxable income along with RTP scholarship cannot exceed 75% of the value of the scholarship; therefore, about $20K+/annum taxable income would be allowed. I should be able to work a few extra hours to hit the $20K mark. Unfortunately, I got no someone else (just myself as a single applicant). What if we considered this scenario: $20K/annum taxable income + deposit to the tune of $45 - 50K? Could we try running any numbers, please? Cheers, Nitin

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Phillip

3 weeks ago

Hi Nitin, yes a couple of the major lenders should be able to do this. Loan amount as an owner-occupier is probably around $350K or perhaps close to $400K (likely under). However, as "investment" we might be obtain a higher loan amount. Please contact me by direct message if you wish to discuss further. All the best :)

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Mitch

3 weeks ago

Hi Nitin. You have a good deposit for a first home which is a great position to be in. No lenders really accept Scholarship income (even though it is ongoing for a long time). If I were you I would focus on increasing your wage income, if possible, or look at options to purchase with someone else who is working as their income could be used to support the loan. Happy to chat further and run some numbers to give you an idea of where you need to be so you can put some goals/plans in place for next year. Thanks Mitch

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 2.88%

Find out more

Loan Calculator