Recent content by timmabambino85

Hey Anon, broker here. The short answer is that 5.89% is the best rate I can get from ING right now, even with lower LVRs. I wouldn’t worry too much about that rate.

I would combine all your money to buy the new $1.1 million house and take a small loan. We did that last May, and it makes life less stressful.

Definitely. The worst they can say is no.

I am fairly sure you have to pay stamp duty because you will be doing a title change. I think what you are better off doing is having your father in law gift the house to you in his will. You live in the house and pay the remaining 150k off,!and your father in law lives there with you. Then...

Yes, this is normal practice if you often fall behind on payments or if you chose a secured loan. And you are correct, you can refinance or take a second mortgage to pay it off. Let me know if you need help. This is one of my main areas of work (I am a commercial and consumer broker).

Most mortgage companies don't let you split your payment. You pay the full amount or nothing. We can only put extra money toward the principal, and that has to be done when we make the monthly mortgage payment. So, over time, any extra amount from one dollar to a hundred dollars helps...

You cannot delay the mortgage payment. They will add the shortage to your monthly bill. Pay that amount. They will spread it out over the year.

If you are in the USA, HUD offers several programs to prevent foreclosure. Consider taking in a housemate for extra money. Create another income source by selling items you don't need. Look for side jobs, such as helping seniors or mothers with children, to earn more. Cut other bills by 5...

U.S. credit system is broken

In Australia its the hospital parking that gets ya

Whether you can buy an investment property depends on how much you spend and if you owe other money. But yes, you might get about $114,000 to use as a deposit.

We moved to another state to address the school situation. It's perfectly fine to want that for your children.

Offset, you still lose money even when you claim a tax deduction

Hi Anon, I'm not in Perth, but I help clients across the country, focusing on first home buyers. Feel free to message me if you'd like to talk.

The car loan has a higher interest rate, so you should sell the car. The $25,000 you take from your offset account won't have much impact overall. It's better to reduce your stress, especially with a baby on the way.