Lincoln Avenue Listing for Buyers
With a $300,000 deposit and a $1.5 million purchase price, stamp duty is approximately $82,000, plus lender, legal, and adjustment costs.
This leaves a base loan of around $1.293 million. Because the deposit is below 20% including costs, LMI applies, bringing the total loan to approximately $1.318 million.
The result is an LVR of roughly 87.9%, which impacts overall borrowing costs and lender options.
About author
Shehan Wijayasinghe
Accounting
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