How Many IPs can I afford ?

[skier]

Home Value 650K
Loan remaing 75K@6.2%@26Y= $485per month

Credit card Limit 2K Nil owing.

No other debts at all.

Salary 320K per annum No bonuses or overtime.!!

1) How many IP's could I comfortably buy right now assuming
I/O loans 90 % variable @ 5.65%, IP cost 350K rented at 330P w/k. ?

2) How does work this out using PIA software.?

Best

[Rolf Latham]

Hiya

With the model you have presented about 500 to 700 and you will run out of mortgage insurers willing to take you on at 90 %, because at 5.65 % youd be using a web only loan for eg Homepath with limited LMI options.

If you could be flexible in your approach and take your time you could gear what you have to a total IP portfolio value getting close to 3 mill.

ta