MHP Mortgage Loans - Matthew Stack

  Commercial Lease Doc Loan A commercial lease doc loan is NOT a full doc prime loan, however it usually offers one of the lowest interest rates in the commercial lending space.  Instead of providing business financials or full income documentation, you simple supply the lease agreement.  Whether the loan is approved or not, relies on the strength of the rent income used to secure your loan.  It's a great way to get your commercial lease doc loan approved. Easier to administer than a commercial property loan as there is usually no declared personal income statement required or letters from the accountant.  Literally, the income assessment is based on the lease agreement income.   Requirements - You can borrow up to 70-80% of the property value. - No need for tax returns, pay slips, bank statements, or business financial statements. - Must be a commercial investment property.  The lease income must be sufficient to cover the interest on your loan. ...

  Another Tricky Scenario - Credit defaults Scenario: -Client wanted to purchase an Owner Occupied home at 90% LVR in Sydney. Issues: -Her credit report showed prior home loan repayment issues within the last 12 months. -Credit report actually showed an X, which meant this facility was more than 180 days in arrears. -She had an Investment property with someone else that was in a location that struggled through Covid. It was not tenanted for a long period of time and they fell behind on repayments with their lender. -The property was finally sold and debt cleared but clients credit file was heavily impacted. Solution: -The investment mortgage had been repaid, so there were no debts outstanding. There was no defaults or judgements listed, and some lenders like Bluestone don't credit check any past debts. -This was a Prime lending loan with Bluestone. -She had been renting, so her last 6 months tenancy ledger was provided for character to repay. No statements or history was need...

  Professional Home Loans - 95% no Lenders Mortgage Insurance If you're a professional with a degree and worked in your field for longer than 3 years, you may be eligible for a 95% home loan and no LMI. Requirements: -Be a home to live in - not Investment. -Category 1 or 2, so metro properties. -Have sound income and employment, who have been in the same industry for a minimum of 3 years. -You don't need to have Genuine Savings, your 5% deposit can come from a gift. -Home price less than $1m at 95% lend or $1.35m at a 90% lend. -Max loan term 28 years, not the standard 30 years. -No minimum income criteria as in some lender policy. Professional Requirements: -Main Applicant, based on income, must be a University Educated Professional and hold an Australian or overseas University degree. -Accepted Professions/Industries: Medical & Allied Health, Legal Professionals, Accounting & Audit, Engineering & IT (TAFE or Certificate qualified professionals for the IT professi...

  Essential Worker Home Loans Police, Paramedics, Firefighter and Teachers can borrow 90% & pay no LMI. This particular lender is Granite Home Loans who do some good no Lenders Mortgage Insurance deals - especially for essential works and professionals. REQUIREMENTS: -Must be Metro, Category 1 or 2 property. Contact me and I'll check the properties address for you. -Must have $5,000 saved from working. This means your whole deposit can't be gifted. -Maximum borrowing amount of $1M. -Open to any borrower who is a Police Officer, Fire Fighter, Paramedic, Registered Nurse, Primary OR Secondary Teacher. And only one of the applicants needs to be an essential worker. -Applicants do NOT require a university degree. -If you don't have $5,000 saved from wages, we can apply with proof you've paid rent to a land lord for 6 months instead. Show me what you've got and we'll build an application around that. Sing out and I'll help see if you qualify. Matthew Stac...

Investing In Property  Another Tricky Scenario! Scenario -New purchase of an Investment property @ 85% LVR. -One borrower holds other investment properties with siblings – not being refinanced. Issues -All equity was held up in the properties owned with other applicants. -LMI costs were affecting funds to complete. -There income didn't service due to debts held with siblings and Investment Property costs for HEM purposes. Solution -No LMI or risk fees on the lenders Prime Product. -100% of debt, 100% of rent and 100% of negative gearing used for all loans held with non-loan applicants. -Investment costs did not have to be separated out and added on top of HEM. -Actual rate of interest for other loans was used for negative gearing calculation instead of an added buffer. This was very helpful. -Servicing buffer of 2.5% added to actual rate of OFI debt, not the new loan rate so buffered repayment was a lot lower than last week. -No credit scoring was used. Want to talk through what...

SMSF Commercial Property Loan  What deposit will I need within my SMSF? - Borrow up to 75% of the value of a commercial property. - Loan terms of up to 30 years for commercial security properties.  Most are 25 years. - Interest-only repayments for up to 5 years. Call Matthew Stack - Finance Broker - 0423 237 242.  Speak to me directly, not a call centre. Why use a finance broker? Not all lenders offer SMSF commercial finance.  I like the following lenders: 1. Better Choice 2. Liberty 3. La Trobe There are plenty of lenders.  Their offers change as they want to attract or slow down business.  Using a mortgage broker will help you get your loan across the line knowing all the fees and costs upfront.  What kind of commercial properties are accepted? 1. Standard commercial properties are the easiest to finance.   These include: -Offices -Warehouse -Retail -Factories -Restaurants -Farms (not all) -Rural properties that are income producing 2. Non...