Search results

Or... If the only loan(s) you have are investment loans, it makes sense to park your cash in offset accounts rather than pay down the principle. You can have 100% access to 100% of that cash immediately should you ever need it, but you still get the same effect of putting in your mtge...

Lets say you have a $200k Mtge now. You borow a LOC of $200k against it. You draw $120k from the LOC as a $100k deposit & $20k purchasing costs for an investment property, getting the other $400k as a separate mtge So you have $200k mtge (PPOR, not deductable) $120k LOC (IP...

What Qld007 suggested included was doing somethig like this. Increase your mtge to 80% of your current property value, it will be a separate loan. Use funds from this for deposit and purchasing costs. Use another loan, from another lender usually, for the remaining purchase price...