Looking for Recommendation of Mortgage Broker - How Much Can I Expect to Borrow Now?

Anth0ny on 01/02/2020 - 07:13

Hi All,
Im looking for recommendation of mortgage broker to find out how much is my borrowing capacity now.
I have 1 property in nsw that i bought for $440k 2 years ago and im currently renting this property out (the rental income only cover the mortgage),
im currently working on a 90k salary pa and im single, dont have any dependent
and renting at $180 pw.

Financial Mortgage Broker

Comments

  • [Deactivated] on 01/02/2020 - 07:50
    +2

    N+1

  • Some Human on 01/02/2020 - 08:48
    +1

    They have calculators for these things on every bank website.

    • bohn on 01/02/2020 - 09:35

      They all vary a lot.

    • Clear on 01/02/2020 - 09:45

      Ontop of that meet with one of the banks that you think has a good rate. It took me 20 minutes to get pre-approval 😉

  • scissorspaperrock on 01/02/2020 - 08:53
    +1

    How much equity is in the first property?
    Looking for an investment loan or?
    How much cash available?

    • pantsparty on 01/02/2020 - 12:50

      These are the correct questions to ask. OP you haven’t told us how much wealth you currently have to use as a deposit/collateral towards property 2. Property 1 could now be worth $400k for all we know.

  • Anth0ny on 01/02/2020 - 16:48

    sorry i didnt tell you guys.
    i have 50k spare that i want to use.
    i dont know how much the value of the property i bought, how do i find out the value?
    and yes, this is for investment

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