This loan application has been posted over 40 days ago...

Bank applied

LVR 75 to 85% Loan Asked $250000

by   Not Donald Duck for   Apartment & Unit

I have a stable job with UBER as I am now not classified as a "contractor" under some legal status. I am looking to purchase a property with 2 of my wives. One of them is a doctor making quite a bit and the other is a home-maker. I propose this property which is valued at 1.2 mio and within 5 years, will be sold. I like to share the profit with my banker for up to 10%. This means if the property is sold at 1.3 mio, the extra 100K will be profit and the bank will get 10% of that ie 10K extra. I prefer there is no interestt cost at all. In terms of risk, we average close to 200K a year before taxes but we do have 2 other landed properties which we are paying off averaging 10K a month. This means the maximum we can afford for this payment is no more than 1K a month.  

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Published at 02-03-2021
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