u/OzgroupFinance

Currently seeing as low as 6.15% P&I for higher loan balances, banks are literally punching on due to low sentiment.

What's your Investment interest rate?

First home buyers in VIC! What are we seeing out in the marketplace??

54% clearance rate shows that we may well still be in a buyers market!

Drop a comment and let us know

Before applying for a home loan, be aware of these common borrowing power killers:

Credit Cards
Every $1,000 in credit card limits can reduce your borrowing capacity by approximately $5,000.

Personal Loans
Every $100 per month in loan repayments can reduce your borrowing capacity by around $15,000.

Dependent Children
Each dependent child can reduce borrowing capacity by approximately $50,000.

Other Expenses That Lenders Consider
• Income Protection Insurance
• Private Health Insurance
• Private School Fees
• Buy Now Pay Later facilities
• Ongoing financial commitments

The less debt and commitments you have, the more you may be able to borrow.

If you’re a first home buyer, it may be one of the best times to get in the market for a very long time.

Negative gearing = gone for established homes, grandfathered for existing homes pre the budget announcement.

This is HUGE. Mum and dad investors make up more than 80% of the investor market and they rely on negative gearing to purchase investment properties as servicing is maximised when negatively gearing an investment loan. We’re talking 200-300k dips in borrowing power.

Capital gains tax changed to the old indexation method pre 1999. So when investors sell their properties after June 2027, they could be worse off.

You’ve got:

The first home guarantee scheme, the help to buy scheme, stamp duty concessions, first home owners grants and more.

Clearance rates are below 50% in most states, properties aren’t selling and buyers are capitalising.

If your income is enough, get in while you can.

https://preview.redd.it/8wkr598x6a6h1.jpg?width=3024&format=pjpg&auto=webp&s=a58a27036c3f2f42b4067435ddc598a19c54348c

I am the mod on this page and I own a brokerage in Melbourne.

Currently travelling Europe and have some down time.

AMA

Properties that are well within 30km to Melbourne CBD under 950K:

Houses & Townhouses
Dandenong: 30km
Craigieburn: 27km
Dallas: 19km
Epping: 22km
Glenroy: 15km
Lalor: 19km
Reservoir: 15km

Maximum income required: 200k single or HHI

Maximum deposit required: $100k (borrowing 95% up to 950k PP)

Assuming you're a first home buyer under the first home guarantee scheme.

I still don't understand why it hasn't caught up to other cities.. we clearly have the best coffee in the world. And that's all that matters!

Ask us about self employed home loans and what the requirements are based on your entity structure.

Whether you’re a company, trust or sole trader.

Let’s chat about it

Hi everyone,

I’m a Melbourne-based mortgage broker with 10 years of experience across banking, finance and mortgage broking.

I thought I’d jump on here and do an AMA for anyone who has questions about home loans, property, refinancing, borrowing capacity, interest rates, investing, or anything finance-related. Even my job, what’s it like being a mortgage broker?

I’m simply here to answer questions and help where I can as it’s all I know. Whether you’re a first-home buyer, investor, homeowner or just curious about how lending works, feel free to ask.

Happy to share what I’ve learned over the years and hopefully point people in the right direction.

Ask me anything.

Borrowers with large OO mortgages, would the play be to move out, rentvest and move back within 6 years and repeat given these changes so you can benefit from the PPOR exemption and NG benefits.

Or perhaps rent out existing and buy forever home and never sell the new home? Again, NG benefits and current grandfathered CGT discount applies?

Seems like a viable strategy now that the script has been flipped.

🐈 out the 💼 home loan btw.