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Experienced Investors Saved $700 a Month with Loan Restructuring

Refinancing Case Study- Self Employed Investors
Client at a glance
Executive Summary

Mortgage Corp helped a self employed couple save approx. $700 a month through refinancing their home loan and two investment loans. We’ve also restructured their loans so they will be able to afford another investment in the next 2 years

Overview

Client: Jason and Rebecca, clients of Mortgage Corp since 2015

Marital status: married with no children

Income: combined income of $190,000

Occupation: Self Employed IT Professionals

Suburb of home: Doncaster, VIC 3108

Objective:  Get a better interest rate on their loans and  purchase another property close to the city in the next 2 years

Results: Reduced interest rate by more than 1% saving around $700 per month in repayments. Restructured their loans to enable them to purchase another investment in the next 2 years

Background

Jason and Rebecca, experienced property investors, both self-employed with a combined income of just over $190,000. They currently own a beautiful home in the eastern suburb of Melbourne, Doncaster and have 2 investment properties earning approx. $40,000 rental income per year.

Households in Doncaster are primarily couples with children and are repaying between $1800 – $2400 per month on mortgage repayments. In general, people in Doncaster work in a Professional occupation. Currently the median sales price of houses in the area is 1,408,000.

Jason and Rebecca are both financially savvy and have got quite a large amount of savings.  They enjoy a great lifestyle travelling and dining out often. They want to buy another home near the city so they can enjoy the fun city lifestyle.

Objectives
In our loan strategy session, we discussed their goals and lifestyle and they mentioned their immediate goal was to buy another property in an inner suburb in the next couple of years so they can live closer to the city and enjoy all the entertainment and convenience an inner suburb has to offer.
Challenges

Solutions:

Results

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