Guest Bianca Posted January 11, 2009 Share Posted January 11, 2009 hi, is this a trusted source for calculating amount of mortgage we can borrow according to salary? Suncorp Loans - Estimate how much you can borrow thanks! Link to comment Share on other sites More sharing options...
Guest Paul EDGE Posted January 11, 2009 Share Posted January 11, 2009 hi, is this a trusted source for calculating amount of mortgage we can borrow according to salary?Suncorp Loans - Estimate how much you can borrow thanks! Hi Bianca I've PM'd you Link to comment Share on other sites More sharing options...
Guest mateja.henigman Posted January 16, 2009 Share Posted January 16, 2009 Hi Bianca, all banks will offer to lend you very different amounts for a home loan and have various ways of calculating this information (especially in this economic climate). It's best to contact the bank even by email (they are always happy to have the opportunity to give you a loan!) but I just thought I would note that you will need to show proof of 2 years full time emplyment in Australia. When you contact then it may be worthwhile to also enquire about this if you are looking to purchase in the near future. Best of luck, Mateja Link to comment Share on other sites More sharing options...
Guest thlo Posted January 18, 2009 Share Posted January 18, 2009 hi, is this a trusted source for calculating amount of mortgage we can borrow according to salary?Suncorp Loans - Estimate how much you can borrow thanks! Hi Bianca, the online how much can you borrow calculators of banks (or mortgage consultants for that matter) are not accurate. The only way you would be able to find out how much you can borrow for a home loan is by way of an obligation free consultation (email or web inquiry is fine). We have comparison software which shows how much each lender (within a panel of about 30 banks and non bank financial institutions including Suncorp) is technically able to lend you. I disagree with the previous post in terms of having to show 2 years income. I regularly arrange home loans for new migrants within their first year. Depending on your circumstances such as your deposit level and employment history, you can qualify for a home loan as short as within the first 3 months of new permanent job. Link to comment Share on other sites More sharing options...
Mongrel Posted January 18, 2009 Share Posted January 18, 2009 yes you are right about the 2 years, its the insurance when you have a small if any deposit thta i find difficult been quoted $16000 Mally Link to comment Share on other sites More sharing options...
Guest thlo Posted January 18, 2009 Share Posted January 18, 2009 yes you are right about the 2 years, its the insurance when you have a small if any deposit thta i find difficult been quoted $16000 Mally Yes, Lenders mortgage insurance is payable on deposits of less that 15-20% of purchase price. There are major variations between lenders costs, it pays to get obligation free advice from a certified mortgage consultant rather than taking the plunge with the first bank that you come across. Link to comment Share on other sites More sharing options...
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