Likely to get a loan?
Hey peeps,
I have been playing around with the idea of buying a second home and renting out our first.
Me and my partner both on about $110k, current townhouse valued about $750k with $590k left on the mortgage. Should be able to rent it out for $650 a week. Interest rate 5% locked for another year.
We have $70k in offset and another $70k in investments we would rather not touch.
Looking to buy about $1 million in Canberra for a house
u/butwhatcouldido — 4 days ago