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Some lenders will sometimes not take the actual rental paid, even 80% of it. Examples are display homes rented back to the builder, some student and serviced apartments etc. Might be a similar issue with mining towns.....

80% of rent is just what most lenders use in the servicing calculator, whether you self manage or not. The 20% is supposed to take into account rental agent fees and other non interest costs of holding a rental property. Note, some banks use 75%, some only 75% of their rental estimate (4% of...

Its not wasting their time. I agree with Bradsdad online calculators wont give you what you need. A broker can give you a ball park figure very quickly over the phone. If you want to, you could always do it the long hand way, work out your own balance sheet, as the banks would. 80% of...