Your proposed loan structure
The two loans
These figures are fixed, based on Liberty Custom tier pricing at up to 60% LVR, 7.49% p.a. on both loans.
Mitchell Street 🔒 fixed
Lynch Street 🔒 fixed
Where the money comes from
The purchase price, the gap it leaves, and how the Mitchell Street equity covers it.
stamp duty, conveyancing and legal fees, lender fees, valuations+$11,000
The $11,000 cost allowance is a planning figure and will be confirmed once contracts are exchanged. Worth knowing: because Corrigin is a smaller purchase, the borrowing covers the property and the costs and not much else, so there is no cash buffer sitting there afterwards.
Your monthly position
Drag the rent sliders to see how the numbers move. Mitchell Street is at the rent you are actually receiving. Lynch Street is an estimate based on comparable Corrigin properties, and I am chasing a written appraisal to firm it up. It is also split by property so you can see how each one is carrying itself.
Money coming in, rent
Money going out, loan repayments
Money going out, standard ongoing property costs*
*Standard ongoing property costs, rates, insurance, property management and maintenance, estimated at around 18% of each property's gross rent. Figures are gross cash estimates. Actual costs will vary, and tax outcomes depend on personal circumstances, check with your accountant.
Growth & equity, 10-year illustration
Choose a growth scenario to see how combined equity across both properties could build over time. This is an illustration only, actual growth will vary.
| Point in time | Combined property value | Combined loan still owed to the bank | Your equity |
|---|---|---|---|
| Today | $475,000 | $211,000 | $264,000 |
| In 5 years | - | - | - |
| In 10 years | - | - | - |
Each block below shows one point in time. The sentence above each bar spells out the property value, how much is still owed to the bank, and how much would be your equity, the grey part of the bar is the loan, the teal part is your equity.
Figures are estimates for illustration only, based on the assumptions shown. They are not a guarantee of future value, rent or approval, and are not personal financial advice. Please speak with Troy before relying on any figure.