Posted Saturday, 15 August 2015 at 12:26 by Shape Home Loans
Tagged: First home buyer | LVR for investors | Loan for investment | Loan for investor | Loan for owners occupier | 95% LVR | Low deposit
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True LVR: 95% + LMI
LMI cost: 4.56%
End LVR: 99.56%
Interest rate: 4.54% - 4.74%
Repayments with Principle and interest ( @ 4.74%): $2,594 per month
Your outlay: 5% ( $25,000) + Stamp duty( ~$12,000- $17,990 Depending on which state)
We pride ourselves on responsible lending, so the following will apply as a general guide.
* At this high LVR, we will do Principle and interest repayments.
* Stable employment - Min time with current employer 1.5 year with at least 3 years history in the same industry.
* Genuine savings only at this high LVR.
* Good credit history
* Low credit card limits ( under $10,000 is preferred) and no or low personal loans outstanding.
* Should have at least $5,000 cash buffer as a minimum ( not compulsory)
Max Property price: $500,000 at 99% end LVR - Principle and interest repayments only ( Shape home loans policy)
Max Property price: $1,000,000 at 97% end LVR - Principle and interest ( Shape home loans policy)
Max Property price: $2,000,000 at 95% end LVR - Principle and interest Or interest only repayments
Available for Investors and owners occupier.
Subject to lenders acceptance and credit Criteria .