For the example above, can B still buy another property (let's call it Property 3) and just pay 10% downpayment? Thanks in advance for any advice
Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Jul 22 2011, 09:18 AM
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#1
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Senior Member
857 posts Joined: Sep 2007  
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Guys, I would like to ask one question regarding this 70% LTV issue. If let's say A and B currently owns two properties (Property 1 and 2). By owning I mean both their names appear in both the house title. However, only Property 2 has both of them as borrowers whereas Property 1's loan is solely handled by A.
For the example above, can B still buy another property (let's call it Property 3) and just pay 10% downpayment? Thanks in advance for any advice |
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Jul 22 2011, 04:23 PM
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#2
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Senior Member
857 posts Joined: Sep 2007
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QUOTE(mayleou @ Jul 22 2011, 02:55 PM) A - Loan for Property 1 = First housing loan (90%) Thanks may, your understanding is spot on and issue addressed. Cheers!A - Joint loan for Property 2 = Second housing loan (90%) B - Joint loan for Property 2 = First housing loan (90%) Based on above (hope my understanding of your statement is correct), B can still get a 90% loan from the bank for Property 3  |
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