Quote:
Originally Posted by alkristensen
Hey bob.
Would i need to be in full time work to get a mortgae in this circumstance please.
We are going to give 75% Deposit on a house up to $400,000 , i.e. we have $300,000 cash. The missus has more but hers is the 200 000 and mines the 100 000. Id like a mortgage for 100,000 withonly working part time or setting up my own shop, is this possible?
Im permanent resident 136 visa holder and will be first time buyer. Do we qualify for the First home buyers grant and stamp duty discount?
Thanks for any answer or advice.
Al
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G'day Al
Are you and the misses buying together or seperately? Your post is confusing me - I'm not too bright :( I'll assume you're buying jointly. i.e. both names on the property, both names on the mortgage.
Being a
PR on a 136 visa means you'll get FHOG and be eligible for the reduced rate of stamp duty (except possibly in Qld).
To get a loan of $100K from RAMS you'd need to be earning over $550/week. That is assuming 2 adults, 0 children, no debts, credit cards, loans, other liabilities etc etc. I'm not suggesting or recommending RAMS, other banks and lenders will have different (but similar) guidelines, it just the RAMS calculator is open on my other screen at the moment.