DEBUNKED! 5 Myths in Real Estate Lending and exactly HOW a bank assess if you can service a loan!

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 DEBUNKED! Want to find out 5 common myths when it comes to Real Estate Lending?

Applied for a loan and got rejected but it made absolutely no sense? We tackle exactly HOW the banks assess if you can service a loan in this week's episode of the First Brick Property Podcast!

5:30 - Myth 1 - You can only have 1 Loan at a time!
10:00 - Myth 2 - You can not get a loan if you have BAD credit!
13:00 - Myth 3 - You can borrow more than you need
17:00 - Myth 4 - You need a 20% Deposit to buy a property
21:00 - Myth 5 - Monthly repayments are the same as fortnightly repayments

25:00 - How the Banks Assess if you can service a loan
26:00 - HEM
27:45 - Credit Cards and other Debt
32:00 - Different types of Income
38:00 - Rental Income
39:00 - Negative Gearing
40:00 - Assessment rate
43:00 - Principal and Interest Vs Interest Only
44:45 - Debt Servicing Ratio

Some tips to helping you buy your next property!

Property Calculator Australia APP Download link
Android - https://play.google.com/store/apps/details?id=com.propertycalculator&hl=en
Apple - https://itunes.apple.com/au/app/property-calculator-australia/id1048864391?mt=8 

Buying property is our passion, helping you do it is our mission!

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*Note that all information in this episode is based on information that is constantly changing and is general advice only*