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- HOME
- BUYING YOUR
FIRST HOME? - UPSIZING OR DOWNSIZING
YOUR HOME? - INVESTING IN
PROPERTY? - BUILDING OR RENOVATING
YOUR HOME? - REFINANCING OR
CONSOLIDATING DEBT?
Investing in Property
The secret to profiting from property investment is in the buying. But equally important is getting a competitive investment property loan – every dollar saved is a dollar made!
Whether purchasing your first investment property or adding another to your portfolio a HOME Mortgage Broker can quickly assess your borrowing options and show you the different types of loans available.
What makes a good investment property?
Any property could be an investment property; whether big, small or something you intend on living in one day. However it is important when investing to conduct thorough research to help maximise your return.
From the banks’ point of view they do have specific policies around the types of property they will accept as security for home loans. HOME Mortgage will guide you through what the banks look for in an investment property to assist with your decision making.
Many people target small apartments for investment purposes because they are relatively affordable and accessible. From the perspective of many banks this type of property is considered higher risk and some lenders do have restrictions on how much they are prepared to lend on these.
Check with a HOME Mortgage broker before making an investment decision to make sure you don’t get caught out.
Banks will also include the majority of rent you expect to receive from the investment property when assessing your borrowing capacity. This means that you will be able to borrow more money to purchase an investment than an owner occupied property that does not produce any rent. So you may actually be able to spend more on an investment property than you thought.
You will need a deposit when purchasing an investment property, just like buying any other property. However if you already own a property and have established a reasonable amount of equity in it, then you may be able to tap into this home equity to fund the deposit on your investment property.
Contact us if you would like a HOME Mortgage Broker to conduct a detailed assessment of your borrowing capacity.
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