We are excited to announce that loans of up to 95% LVR are now available for the purchase of a National Rental Affordability Scheme ( NRAS ) Approved Property from Onyx.
This means that on a typical $300,000 NRAS property you would only need $15,000 plus stamp duty and other transaction costs. Many of our clients are financing these additional costs by increasing or refinancing a loan on an existing property they own.
So an NRAS property purchase can be 100% financed.
In most cases NRAS properties provide a positive cash flow so this means you can borrow all the funds for the purchase and have all the on-going costs (e.g. interest, rates) paid for by the tenant, NRAS and the tax deductions available on investment property.
These NRAS property loans have very low interest rates and are feature packed. The features include Lo Doc options, a 10 years interest only period, and generous loan affordability criteria which allow the inclusion of negative gearing tax deductions.
We are expecting a series of new NRAS property releases shortly. Our recent experience is that NRAS property is selling quickly so we suggest you prepare now. Contact as now to discuss your NRAS property finance strategy and even obtain a pre-approval so you are ready for the next release.
To see our list of available NRAS properties go to onyx.net.au/property-catalogue
To learn about NRAS to to www.nrasincentives.com.au