Hi
CBA will do a 40 sqm 90% loan for me. If I were an existing client
they would go to 95% 40 sqm. You need to be a existing client for 3 months.
What would you do? Go for the 90% loan. Or become a client of CBA but wait a bit longer so as to get the 95% loan.
The other thing is things might change. CBA might not offer the same deal in 3 months time. There might not be a 40sqm 95% loan or a 90% loan. CBA might change the rules and make you wait 6 months as an existing client before you can get the deal. There are all sorts of scenarios.
Maybe the 90% deal isnt such a bad option. I dont have to pay the LMI, its capitalized. I have enough equity in my ppor property to do the 90% deal. I dont have to fork out one cent of my own cash to do it.
My LVR with the 95% loan is 84% - $250 K loan
When I have some time, I'll work it out at 90%
CBA will do a 40 sqm 90% loan for me. If I were an existing client
they would go to 95% 40 sqm. You need to be a existing client for 3 months.
What would you do? Go for the 90% loan. Or become a client of CBA but wait a bit longer so as to get the 95% loan.
The other thing is things might change. CBA might not offer the same deal in 3 months time. There might not be a 40sqm 95% loan or a 90% loan. CBA might change the rules and make you wait 6 months as an existing client before you can get the deal. There are all sorts of scenarios.
Maybe the 90% deal isnt such a bad option. I dont have to pay the LMI, its capitalized. I have enough equity in my ppor property to do the 90% deal. I dont have to fork out one cent of my own cash to do it.
My LVR with the 95% loan is 84% - $250 K loan
When I have some time, I'll work it out at 90%