606b mortgage options, rising rates, pre-approvals, rate locking, online only lenders + more (mortgage broker q&a)
money money money
00:00
Getting an Interest Only Investment Mortgage in 12 Months?
There's no real difference in the credit assessment if you're applying for an investment loan rather than a home loan. You do need to have the income and everything to be able to afford that loan at interest only again, which funnily enough, you need a little bit more income to cover an interest only loan than you do a principal and interest loan - even though there are payments or less. That's a weird concept, isn't it? Because you often get knocked back when you are P&I and then you apply to a go interest only and the bank says, no, you actually can't afford it. Although the payments are less.
Transcript
Play full episode
