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Deposit for Investment Property, Australia?
I am thinking about buying an investment apartment in Melbourne for around 200K. How much in deposit, fees etc will I need up front? I have no other properties.
I will be unemployed when applying for a loan as I have been living/working overseas. But can prove an income of around AUD80K+ the previous year.
3 Answers
- kjayLv 61 decade agoFavorite Answer
Your gonna need to have the whole 200k if your unemployed. No company bank or otherwise in their right mind would lend that kind of cash to someone who is unemployed.
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- ?Lv 45 years ago
in case you're a citizen (and also you may want to instruct this once you purchase the valuables) homes should be ok. in case you aren't any more a citizen then property is now out as overseas, no longer residing in the country purchase of property is now no longer accepted.