How Many IPs can I afford ?

How Many

Home Value 650K
Loan remaing 75K@6.2%@26Y= $485per month

Credit card Limit 2K Nil owing.

No other debts at all.

Salary 320K per annum No bonuses or overtime.!!

1) How many IP's could I comfortably buy right now assuming
I/O loans 90 % variable @ 5.65%, IP cost 350K rented at 330P w/k. ?

2) How does work this out using PIA software.?

Best
 
Hiya

With the model you have presented about 500 to 700 and you will run out of mortgage insurers willing to take you on at 90 %, because at 5.65 % youd be using a web only loan for eg Homepath with limited LMI options.

If you could be flexible in your approach and take your time you could gear what you have to a total IP portfolio value getting close to 3 mill.

ta
 
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