how much can i borrow?

kazi

Hi, patrick, if my sister's house worth $ 340,000, loan $220,000. her monthly income is about $ 4600 net,only one child, husband does a bit casual work,  can she buy an investment property which worth $380,000?
thanks

patricb

Why did you post it instead of sending me a message?:)

patricb

Incomewise she is OK, the only thing is she does not have too much equity in her existing property. Therefore either she needs to put in some deposit or she will have to pay mortgage insurance.:)  If you want a discussion,give me a call.:)