2/10/2014 4:50:26 PM
I have a husband and wife couple.
They want to purchase land for $300k and borrow an additional $200k to complete construction and move into their first house. They currently live on rent.
The wife is a voluntary bankrupt from the end of last year. So I have run serviceability only on the husband and he does not have the borrowing power as I have to place the wife as a dependent.
Would any lender look at this deal with the wife as a current bankrupt on the loan as well? She has as a good income and the couple will meet serviceability if it is a joint loan. Where would the interest rate roughly sit at?
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your mortgage scenario