MHP Mortgage Loans - Matthew Stack

Applying for an Investment Property Loan  The basic lending criteria are: -Best to have 10% in genuine savings. -Can use equity in other properties through refinance. -Good credit score. -Stable employment. If you want to see if you qualify for an investment loan, then call me on 0423 237 242 and we'll talk through your application together. Which Lenders are best for Investing in Property? -It's important to find a bank that likes investors, not one that isn't actively seeking that kind of new business.  I will run your servicing with a whole panel of lenders to see where you fit - this will not affect your credit rating. -There are both Bank and Non-Bank lenders that consider 95% investment loans.  Each lender policy is different, so it's best to use a broker as we won't affect your credit score. Steps to increase your borrowing power: - Use a lender that has the best lending criteria for investors, - Lower your credit card limits, - Use a co-borrower such as ...

  Another Tricky Scenario This saved a customer $6,500 in risk fees by using their vacant land as additional security on their application. Scenario -Refinance & cash out for renovations. Issues -ABN less than 24 months in operation. -Only 1 year tax returns. -Low credit score. Solution -Client’s refinance and cash out was sitting at 80% LVR so a risk fee would have been incurred. -They owned a vacant block of land that they are not looking to build on in the near future. -Using the land as secondary security, kept the overall LVR at 70% and total loan under $750,000. -They could use their 2022 financials in isolation. -No Credit Scoring was needed. The customer was approved in 3 days after lodging. Matthew Stack - Mortgage Broker 0423 237 242 #mortgagebroker #revesby #homeloan #carloan