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tjay | 31 Oct 2014, 06:57 PM Agree 0
Hi all,
This is my first time here and looking forward to learning more about property.
I have been saving for my first investment property over the past 12 months and currently have 19000 in the bank of genuine savings. I approached a mortgage broker last week to secure a pre approval for about $250000. The stamp duty has hit me a little harder than expected and have been advised to either get a guarantor (which is not an option) or to save another $4000. My question is, are there any lenders who add the stamp duty to the loan, so this isnt taken away from my deposit or are there other ways around this?

Appreciate all who read and comment in advance
  • | 01 Nov 2014, 02:17 PM Agree 0
    Hi , since you mentioned that this is your investment propery, then I assume you already own a property. Check if you have some equity in your existing property. Then you can increase the amount of loan and include the stampduty .
    • | 01 Nov 2014, 02:26 PM Agree 0
      It will actually be my first property. I am living in a granny flat at my parents house for a couple of years to help me get ahead while I am still young.
  • Miriam | 16 Jan 2015, 03:35 PM Agree 0
    Hi tjay. We can help you out with your investment. You can call us at 07-3387-5819.
  • dfgsdfgd | 22 Jan 2015, 12:26 PM Agree 0
    $19k down for a $250k investment?
    LoL R U serious?? People have no clue how clueless they are..
  • invest123421 | 22 Jan 2015, 12:28 PM Agree 0
    Try 20% so that you don't get hit with a PMI for the rest of the loan's life (they changed the rules no too long ago) and another 10% of savings just in case you fall to the bottom..
    So $50k and another $25k then start thinking about investing..
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