Loans, LMI, Equity and all things financing

Send us Fan MailFinancing, Loans, Equity and LMI! Get to know the main points when it comes to financing with director of Power Loans, Fadi Youssef9:30 – Why use a broker? 17:45 - Steps involved in obtaining a loan 19:45 – Interest rates are not the most important aspect of a loan22:20 - Deposits and loan requirements 23:10 – What is LMI? How does it affect me?24:30 – Exceptions to the 20% deposit rule25:10 – “Avoid it if you can, embrace it if you have too” “If you can save faster than the market, its better to wait, but if the market is moving quicker than you save, consider LMI”27:15 – Equity. What is Equity? How do I use it and embrace it too enhance my property portfolio“The saying is the first property is always the hardest”28:00 – Example of using Equity, What is LVR?Purchase price $650,000 Loan amount $500,000 LVR 80% Property value increases to $950,000. Loan remaining $400,000. Available Equity $360,000 (950 000 X 80% - 400 000)35:45 - Cross Collateralization  Summary 1. The importance and the benefits of using a broker as opposed to going straight to the bank2. What exactly is a loan in property, how to get a loan, the differences between OO loans and IP Loans, the differences between IO and P&I loans3. The exceptions to the 20% rules4. What LMI is, (Avoid it if you can, embrace if you have to)5. What equity is and how you can use it to push yourself forward in building a portfolio6. We also touched on offset accounts and cross collateralization and why you want to avoid it. Links Property Calculator Australia APP Download link Android - https://play.google.com/store/apps/details?id=com.propertycalculator&hl=en Apple - https://itunes.apple.com/au/app/property-calculator-australia/id1048864391?mt=8 Mortgage brokers Facebook image: https://www.facebook.com/firstbrickproperty/photos/a.114769426602981/170113824401874/?type=3 Equity Facebook Image:https://www.facebook.com/firstbrickproperty/photos/a.114769426602981/154787102601213/?type=3  Power loans contact informationFacebook: https://www.facebook.com/powerloans/ Phone: 0405 315 443Email: [email protected]: http://www.powerloans.com.au/?fbclid=IwAR29FJUrbfN3PoipWRln6DUwzaI_9ZW9AMhDeM9FgSKmUFG8n-RoI96FdLY  Buying property is our passion, helping you do it is our mission!Send us your questions, topic requests or guest speaker requests to our socials or our email [email protected]: linkedin.com/company/first-brick-property-buyers-agency Facebook: https://www.facebook.com/firstbrickproperty/ Instagram: https://www.instagram.com/firstbrickpropertybuyers/ Youtube: https://www.youtube.com/channel/UC1VA1YM1_BDZW7whNc4kFVg TikTok: https://lnkd.in/gsRBgXC