5% Deposit

First Home Buyer Scenario: Purchasing an Apartment in NSW

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first home buyer

1. Background Information Property to Purchase: $900,000 Apartment (New South Wales) Income Details: Restaurant Business Income: Recent annual profit of $90,000 Husband’s Income: $50,000 (wage) Wife’s Income: $40,000 (wage) Family Composition: Couple with two minor children Savings: $70,000 (to be used as a deposit) 2. Purchase Plan Purchase Price: $900,000 Loan-to-Value Ratio (LVR): 95% Loan … Read more

First Home Buyer Scenario: Purchasing a Townhouse in VIC

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first home

1. Background Information Property to Purchase: $370,000 Townhouse (Victoria) Personal Information: Age: Late 20s Single, No Children Income: Annual salary of $67,000 Savings: $23,000 (to be used as a deposit) 2. Purchase Plan Purchase Price: $370,000 Loan-to-Value Ratio (LVR): 95% Loan Amount: $351,500 Deposit (5%): $18,500 (from savings) Stamp Duty: Fully exempt under the First … Read more