Hi guys,
Just wondering if anyone out there with those nice loan programs could run some figures through them for me.
I'm buying a property for $275k have put $15k down as a deposit so far.
I'm on $42 500 base salary with performance bonuses up to 20% per year (10% per 1/2 yearly period) with a track record of receiving between 7-10% each period (paid half yearly, my last bonus was 10%)
My parents are going guarantor (I know many on here don't like it), I have enough cash with the FHOG to get an 80% loan, but this would leave me with only a couple of thousand dollars which isn't a smart idea as it leaves nothing for a rainy day.
I have no credit card (just canceled it/payed off), no other loans/debts at all.
My cost of living is under $1000 a month (but I pay only $100 a week for rent/water/electricity) so I guess the banks would use whatever their minimum allowed figure.
So my question is, how much would ANZ, NAB lend to me? Would they take my bonuses into account?
Been employed with the same employer for 5 1/2 years and 2 years in current role (which is when I started to receive bonuses).
I was told by a MB that ANZ would only lend me $220 000 for servicability which seems to be far too low, ANZ told me that $250 000 wouldn't be a problem when I talked to them back in march (I realise things have changed since then, but their online calcs tell me a vastly different story too).
Edit: Also would splitting my loan 50/50 fixed/variable increase my lending by a significant amount?
Just wondering if anyone out there with those nice loan programs could run some figures through them for me.
I'm buying a property for $275k have put $15k down as a deposit so far.
I'm on $42 500 base salary with performance bonuses up to 20% per year (10% per 1/2 yearly period) with a track record of receiving between 7-10% each period (paid half yearly, my last bonus was 10%)
My parents are going guarantor (I know many on here don't like it), I have enough cash with the FHOG to get an 80% loan, but this would leave me with only a couple of thousand dollars which isn't a smart idea as it leaves nothing for a rainy day.
I have no credit card (just canceled it/payed off), no other loans/debts at all.
My cost of living is under $1000 a month (but I pay only $100 a week for rent/water/electricity) so I guess the banks would use whatever their minimum allowed figure.
So my question is, how much would ANZ, NAB lend to me? Would they take my bonuses into account?
Been employed with the same employer for 5 1/2 years and 2 years in current role (which is when I started to receive bonuses).
I was told by a MB that ANZ would only lend me $220 000 for servicability which seems to be far too low, ANZ told me that $250 000 wouldn't be a problem when I talked to them back in march (I realise things have changed since then, but their online calcs tell me a vastly different story too).
Edit: Also would splitting my loan 50/50 fixed/variable increase my lending by a significant amount?
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