Every applicant should ask themselves how much can I borrow an investment loan before applying for approval. The borrowing power of an individual depends on the strength of the loan application. It also depends on the lender you apply with. Based on that you can borrow up to:
85% of investment loan: If you have stable employment and a good income, you might be eligible for nearly 85% of the investment loan. In this case, lenders might ask you to have around 5% genuine savings and a 15% deposit.
90% of the property value: A borrower can have 90% of the investment loan if they have a clean credit record, a good deposit, and an investment property easily marketable. In this situation, developing a strong case with the lender is necessary.
For more than 90%: Borrowers need a perfect history, a huge deposit, and an excellent investment portfolio to get more than 90% of the investment loan. In addition, they have an easily selling standard investment property. Very few lenders can offer you more than a 90% loan, and getting qualified for this loan can be difficult.
Learn how to get an investment loan before applying for one. A borrower needs to consider many things to qualify for getting approval for an investment loan. The loan rate is one of the. Compare best investment loan rates before approaching a lender for getting approval for a loan. A borrower can qualify for the loan amount based on the strength of their loan application. If you plan to invest in a property in Australia, find a suitable lender to get an investment loan.