EP 32: How to Get a Million Dollar Loan on a $100k Salary i.e. Current Lending Market Challenge

Is it possible to secure a million-dollar loan with just a $100,000 salary?

Our special guest, Robert Moses, a trusted and strategic friend of Moss who manages personal portfolios, will share invaluable insights on these game-changing strategies.

Ever wondered why someone with a lower combined income receives higher loan offers than you? It turns out that lending criteria vary across banks, and a skilled broker can maximize your lending potential by matching you with the right bank.

This podcast episode delves into the significance of side hustles for self-employed individuals seeking financing. By utilizing low doc products and obtaining accountant statements to self-declare income, self-employed clients can secure loans from lenders specializing in this area.

Proactivity is key when managing finances, and anticipating future financial situations is essential. Close collaboration between brokers, accountants, and clients is crucial to plan and effectively forecast income changes.

For those running side hustles, exploring financing options through the business rather than personal loans can free up borrowing capacity while maintaining lower interest rates. Also, lenders are often willing to consider short-term employment for recently started trading businesses.

Maximize your income, harness the power of side hustles, and tap into the potential of trust structures. Unlock your borrowing capacity and secure the loan you deserve. Tune in now and stay ahead in your financial journey!

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Episode Highlights:

• 00:00 Welcome to Helpmebuy Property Podcast
• 02:00 Why is the Bank Unable to Provide the Loan?
• 07:37 From the Bank’s Perspective, How Does Negative Cash Flow Property Function?
• 10:40 Exploring the Connection Between Lending and Income 
• 15:04 How Does One Navigate Through These Various Aspects? 
• 20:28 How Can You Determine if Your Business Has Sufficient Equity to Settle a Car Payment? 
• 23:14 Is Acquiring a Property That Experiences Growth and Consolidates All Debts Into a 30-year Mortgage More Advantageous?
• 28:36 What Does the Hierarchy Look Like in Certain Situations? 
• 30:58 How Can You Determine Your Eligibility for a Loan? 
• 36:13 What Are Some Essential Considerations Before Purchasing Properties? 

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