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Borrowing Capacity
Exploring the Options
The amount you can borrow depends on the purchase price or market
value of the property and associated costs, what you're earning
and your ongoing financial commitments. As a rule of thumb,
you can borrow up to 95% of the value of the property being
offered as security. (Note that Lenders
Mortgage Insurance usually applies for loans over 80%
LVR, with some lenders allowing you to capitalise this fee
to the loan amount to a maximum loan value of 97%.)
Some lenders also offer 100%
loans.
In determining your borrowing capacity, the assessment
and the amount of the advance will vary between lenders. Contact me for a
free no-obligation consultation to fully assess your borrowing
opportunities.
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