Mickeygreen,
I believe it works this way to the calculations
research comparing loans all products are around 85% LVR
those that are higher have higher interest rates with no offset or redraw facility. Inflexable higher interest loans from banks that don't drop rates in line with the RBA
ANZ offers max 90% as of 1/12/08
so you still need $40K + LMI + app fee of your own money
say 45K.
First home buyer grant of 17 K is swallowed by stamp duty 21K + transfer fee and stamp duty on loan. Then you get 1k rebate for being a first home buyer
18K gov credit
22K gov debit
45K deposit
You need 49K on a 90% LVR 400K loan
to avoid LMI you need a 80% LVR
by having another 40K you save 7K on LMI
- Forums
- Property
- food for thought for those that think
food for thought for those that think, page-7
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review