Ok, am looking to buy a PPOR at postcode 4300 Springfield Lakes. Anyhoo believe I will probably need to approach banks direct, the Mrs is pregnant (only 12 weeks), so we got 6 mths till she pops and I want to buy us a house now while we have the time/etc before the baby arrives.
In 6 mths time she will no longer have an income (except govt maternity leave) then will be off work for who knows. What I'm thinking is we either need to go direct to bank and not tell them anything about being pregnant unless they ask, as we know we can definitely pay the loan, or I just try and get a loan just using my income/etc solo.
I earn 68k gross per year, have been in job for 3 yrs. Mrs earns 40k but only in current job 3 mths.
No loans/debts/defaults etc except we have a car loan @ $300p/mth, we only have $4000 left to pay off on it (have $ parked in there for re-draw offsetting interest), will this be a nuisance/should we just pay it off and clear it because i'd rather keep those $4k for the house even though interest rate is less but to use for deposit etc.
Deposit we have 24k including the above 4k or 20k excluding it, house we are looking to buy is $350k so 5% deposit would be say $17.5k and stamp duty 3.5k plus a few other purchase expenses (solicitor/loan/application fees/pest bld) which we can easily cover with our current income.
Would it be best to get this loan joint, or even joint+tell banks we are pregnant. All sums show us that we can easily service the loan with 1 income. Loan would be 332,500 and cost say $535 pw, current rent is $600pw anyway. I cant really see any lender taking mrs income in account anyway given she's 3 mth in job, pregnant, her probation period is 6 mths.
LMI would (hopefully) be capitalised. Or was thinking of St George Family Pledge and asking Dad to put up a % of his property as security. ?? Anyone recommend any banks, CBA? We r currently with BankWest and a credit union.
In 6 mths time she will no longer have an income (except govt maternity leave) then will be off work for who knows. What I'm thinking is we either need to go direct to bank and not tell them anything about being pregnant unless they ask, as we know we can definitely pay the loan, or I just try and get a loan just using my income/etc solo.
I earn 68k gross per year, have been in job for 3 yrs. Mrs earns 40k but only in current job 3 mths.
No loans/debts/defaults etc except we have a car loan @ $300p/mth, we only have $4000 left to pay off on it (have $ parked in there for re-draw offsetting interest), will this be a nuisance/should we just pay it off and clear it because i'd rather keep those $4k for the house even though interest rate is less but to use for deposit etc.
Deposit we have 24k including the above 4k or 20k excluding it, house we are looking to buy is $350k so 5% deposit would be say $17.5k and stamp duty 3.5k plus a few other purchase expenses (solicitor/loan/application fees/pest bld) which we can easily cover with our current income.
Would it be best to get this loan joint, or even joint+tell banks we are pregnant. All sums show us that we can easily service the loan with 1 income. Loan would be 332,500 and cost say $535 pw, current rent is $600pw anyway. I cant really see any lender taking mrs income in account anyway given she's 3 mth in job, pregnant, her probation period is 6 mths.
LMI would (hopefully) be capitalised. Or was thinking of St George Family Pledge and asking Dad to put up a % of his property as security. ?? Anyone recommend any banks, CBA? We r currently with BankWest and a credit union.