1. A

    Aussie Expat in UAE - 90% Lend Possible

    Hi All, Long time lurker on the boards here. I am looking for some information on the maximum LVR achievable for an Australian expat living in the UAE. From recent dealings with CBA (contract fell over today - c'est la vie), I was told that GE Money won't touch anyone who earns income in UAE...
  2. S

    Refinancing an investment loan (LMI Deduction)

    I buy an investment property(IP1) today and borrow 80% LVR to purchase it, 6-8 months later(or maybe even 1-2 years later ? time really does not have any bearing here) I decide to refinance the loan to 90% LVR ? (with the same bank) ? but use the extra 10% as deposit for a subsequent investment...
  3. B

    Structure of IP2 Loan

    Hello, I'm looking at purchasing my second IP in the near future. I have a loan of 320k for IP1. IP1 currently valued approx 450k. I was looking at using the equity available as deposit for IP2. From what I can gather, my available equity will be 40k ? Am looking at IP2 approx value 280k...
  4. N

    Downsides of LMI

    Hey everyone I'm planning to buy my first investment property with a 15% deposit, as a 20% deposit wasn't going to leave me with enough cash for a renovation. Now I'm thinking maybe I should go for a 10% deposit to allow me to afford a more expensive property. Apart from the extra cost...
  5. P

    Lenders Mortgage Insurance.... deductable?

    Hi all, I think this may be my first post to the forum. I registered in Dec but then enjoyed xmas and now I am getting back into learning about property investing before taking the jump on my first proper investment property. I say proper because I have recently moved from the uk and rent...
  6. S

    LMI Tax query

    I have just refinanced to open a line of credit which is to be exclusively used for property investment. We had to leverage to 90% to get a satisfactory amount, thus incurring LMI. I mistakenly believed the LMI would all be placed on the LOC (tax deductible over 5 years as an investment expense)...
  7. Richard Feynman

    LVR Q - overestimating property val during equity loan app.

    Quick question to clarify my assumption (or correct it). My LVR is almost 90% at present based on the recently agreed PPOR value between my lender and I (which I estimated during a successful equity loan app). I believe my PPOR is worth more than the recently agreed value. Now, if I...
  8. S

    LMI and borrowing additional equity

    Do i have to pay full LMI again at the following scenarios. If not how much I will have to pay? (Same bank of course) 1. If I have a loan of 85% of equity and then get another 5% loan. 2. If I have 90% loan and the house price has gone up and I get extra loan (maintaining 90%)
  9. N

    LVR - Does this include LMI??

    Hi Guys, I have just refinanced to upgrade home @ 90% + LMI, however the lender is considering the $12k LMI as part of the LVR pushing me to 92% LVR. Problem is, this lender has breaks in ther rates <80% >80% up to and including 90% >90% As you can see, including the LMI in the LVR...
  10. Munchine

    myHomeCalc iphone app, your thoughts?

    Hi Everyone, I thought you may be interested in an app I have just released on the iPhone. Below is a brief summary, and you can get more details by clicking on www.cajgi.com.au. The app dynamically link in Stamp Duty with your mortgage and calculates LMI, LVR, cost of land, and the Auction...
  11. D

    LMI estimator tool

    Hi All Im not sure if this has been posted on somersoft before but I found this tool on the Genworth Financial website which I thought would be useful for people to work out how much the LMI (Lenders Mortgage Insurance) would be with different LVR scenarios regards D Money...