I want to know that I will be eligible to get home loan for the property that will be around 670K in sale price. My annual income is around $63,000 before tax, single income, no dependent and credit card limit is $6000. This will be my first purchasing in property. I can get about $100,000 include all the fees and deposit for the property. Am I eligible to burrow rest from the bank? Is this good idea to buy a home in Sydney with $100,000 that I have? Thanks

Julia. Hi. Do you perhaps mean $670k in sale price ?
The figure you have provided could not be feasible with a $100,000 deposit and a purchase in Sydney region.
I would be happy to provide a private assessment, not in this public forum, should you wish to contact me.

Best Regards
Ken Olds
Customers First Mortgages & Insurance
wwwAskKen.com.au
1300 275 536

Hi Julia, there are many various able to consider in gathering suitable details about your situation. It appears you are purchasing for $670k with a 10% deposit ($67k) plus cost which roughly equates to $100k. This leaves a Mortgage of more or less, $600k. On the raw data provided, it appears that this might not be possible to meet servicing (affordability) calculations required for a $600k loan on your income. However, I don’t know enough about other options which may be considered depending on your situation and resources available. Further details and an in depth conversation would be required.

Hi Julia,

We would need to have a discussion to find out what are your plans in terms of occupying the property or not.
Please feel free to contact me.
02 9897 9696
0414 545 643
michael@progressloancentre.com.au