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  1. skater

    Can you use equity for a deposit for an IP without injecting your own cash?

    Yes, buy how much equity did you have? You can draw out 80% without LMI. Once you go over that, that is when they start talking LMI.
  2. skater

    Can you use equity for a deposit for an IP without injecting your own cash?

    Presuming you qualify for a loan, and you don't want to bother with LMI. IP is valued at $440k, you can draw down 80% without LMI, so that would be $352K. You already have a loan for $307k, which means you can get a top up loan of $45k. This would give you $45k to use as a deposit for the...
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