Ray Ethell

Non Conforming Loans

Narrabeen NSW

English

13 posts

Ray EthellNon Conforming Loans

How can I improve my credit score to increase my chances of getting a home loan?

There are a number of key attributes that are taken into consideration when generating your Credit Score:  The number, type and age of any credit facilities you have opened or closed in the last 24 months and whether you have missed any payments.  The... more

Ray EthellNon Conforming Loans

What is the difference between a standard home loan and a low doc home loan?

A Low Doc Home Loan is only for self employed applicants. A standard home loan for the Self Employed would require 2 years of lodged financial / tax returns. For low doc home loans, you will need to satisfy the lender with a confirmation of income and... more

Ray EthellNon Conforming Loans

Can I get a home loan if I am a non-resident or a foreigner?

Any applicant that does not hold Australian Citizenship or Australian Permanent Residency can use a non resident home loan to purchase or refinance an owner occupied or investment property. Non residents in Australia generally need to obtain approval from the... more

Ray EthellNon Conforming Loans

Do banks consider Uber as income?

Yes, however it would need to be evident in last 2 years of tax returns as this is classified as Self Employed income.

Ray EthellNon Conforming Loans

My credit is not so good. Can I still get a mortgage for my situation?

Yes, Bad Credit Home Loans allow you to borrow up to 95% of the purchase price in high population areas. When purchasing at 95% LVR you’ll require funds of 5% deposit, stamp duty and risk fees & loan costs. High LVR’s of 95% are only available in high... more