Home Loan Help Please!!!

2 years clear with demonstrated savings capacity and I think your back in mainstream land. You gotta realise as well that a couple of years ago 7% was a good rate. Perception is reality. The $6k fee is a killer though.

Hi Marty

Couple of years ago 7% was in fact was a fantastic rate. On the other hand Sydney real estate prices increased in couple of years.

If you are keen enough please have a look at 2 bedroom unit prices in Eastlakes 2018 NSW. Around May 2013 they were selling for 400K, Now they are selling for no less than 600K. Back in 2013 you were able to buy a house for 600K, yes 2 bedroom house, its all in domain web site sold section. Now houses are at least 1 million. Units again starting from 600K.

Couple of years and 50% increase, market has gone through the roof

Cheers
 
In regarding to your loan, don't worry about Pepper's high interest rate at moment.

Treat Pepper as a stepping stone type of loan, after 6 - 18 months of good history of repayment, you will be in a better position to negotiate a better deal with them or other lenders.

What I found is, many of my clients too focus on the loan( such as rate, annual fee.....) they forgot property investing is about choosing the right type of strategy and property first then choose the loan second. Then they ended up with seeing market moving already and said they missed the boat.

Focus on the strategy and choose the right type of property for your chosen strategy, let the broker get the best loan deal for you.

Hope this will help
 
In regarding to your loan, don't worry about Pepper's high interest rate at moment.

Treat Pepper as a stepping stone type of loan, after 6 - 18 months of good history of repayment, you will be in a better position to negotiate a better deal with them or other lenders.

What I found is, many of my clients too focus on the loan( such as rate, annual fee.....) they forgot property investing is about choosing the right type of strategy and property first then choose the loan second. Then they ended up with seeing market moving already and said they missed the boat.

Focus on the strategy and choose the right type of property for your chosen strategy, let the broker get the best loan deal for you.

Hope this will help

Hi

Thats very well said Taylor.
Most of what you said what Im going through now.
I will need to get priorities in investing clarified. I will keep you guys posted.

Thanks
 
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