FHB questions on deed and LVR
FHB here. Currently we are planning to apply for a pre approval based on a single income only as one of us is unemployed at the moment. Was wondering if we can still put both our names in the deed later while purchasing or if the loan is taken on a single name, only his/her name can be put in the deed?
Furthermore, is the LVR mentioned in the pre approval letter? We can go for a 95% LVR with no LMI needed but was wondering is there any downside or less advantage to us if there are 2 buyers one with 90%LVR and another with 95%LVR and the seller decides to go with a lesser LVR?
If we get a pre-approval letter with 95%LVR, would we need to get another pre approval letter if we think we can afford 90%?
Thanks for the help! pretty layman questions but would appreciate some answers