Finance Brokers, Cheltenham, VIC 3192
Home Loans, Caulfield North, VIC 3161
Home Loans, Clayton, VIC 3168
Home Loans, Elwood, VIC 3184
Home Loans, Elwood, VIC 3184
For many, saving up for a deposit can be enormously daunting. As housing prices continue to climb year after year, many potential homeowners look at low deposit home loans to access the real estate market. Here’s what you need to know about low deposit loans.
Low deposit home loans are offered by some banks and lenders, offering loans with only a 5-15% deposit. For example, with a $500,000 home, a 90% loan to value ratio means the buyer pays $50,000 and the bank pays $450,000. This means fewer savings needed to purchase a house (negating future interest repayments).
Of course, with this accessibility comes a few negatives. These home mortgage loans are considered high risk by the lender, so they will scrutinise your financials carefully. They also come with higher monthly repayments and higher interest rates. Many lenders also slap on Lender’s Mortgage Insurance, which is insurance you pay on behalf of the bank should you fail to meet mortgage payments.
Ultimately, the ball is in your court. Keep the above in mind as you search for easy home loans near you.
Home Loans, Brighton, VIC 3186
Open until 5:00pm
Legal ID: ACL: 382869
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Home Loans, Brighton, VIC 3186
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Home Loans, Caulfield South, VIC 3162
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Home Loans, Caulfield North, VIC 3161
Financial Planning, Cheltenham, VIC 3192
Mortgage Brokers, Clayton, VIC 3168
(42)
Open until 6:00pm
Legal ID: Australian Credit Representative Number 485430
Mortgage Brokers, Clayton, VIC 3168
Open until 6:00pm
Legal ID: Australian Credit Licence 389087
Mortgage Brokers, Springvale South, VIC 3172
Mortgage Brokers, Brighton, VIC 3186
Open 24 hours
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Mortgage Brokers, Mulgrave, VIC 3170
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Mortgage Brokers, Springvale South, VIC 3172