When it comes to a deposit for an SMSF loan, it's generally a bit more than a standard investment or commercial loan because of the lower Loan to Value Ratios (LVRs) that are mostly offered.
So if you want to buy a residential property for your SMSF, you will usually need to have 20-25% of the property value as your deposit. You must also add an extra 5% of the property value to this to cover the costs of completing the purchase such as stamp duty, mortgage transfer fees, the costs of a conveyancer and other legal expenses.
If you want to buy a commercial property for your SMSF, you will generally need at least a 30% deposit for an SMSF loan plus 5% for the costs of completion.
Please go through our website if you want to learn more. You can also call us on 1300 889 743 or complete our free online enquiry form so we can properly assess your situation and then match you with a lender that will accept different types of income in order for you to qualify for an SMSF loan.
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