Mortgage Brokers, Craigieburn, VIC 3064
Mortgage Brokers, Moonee Ponds, VIC 3039
Mortgage Brokers, Moonee Ponds, VIC 3039
Mortgage Brokers, Wollert, VIC 3750
Mortgage Brokers, South Morang, VIC 3752
Mortgage Brokers, Parkville, VIC 3052
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.
Mortgage Brokers, Craigieburn, VIC 3064
Mortgage Brokers, Alphington, VIC 3078
Mortgage Brokers, Heidelberg, VIC 3084
Mortgage Brokers, South Morang, VIC 3752
Mortgage Brokers, Bundoora, VIC 3083
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Open until 5:00pm
Open until 9:00pm
Open until 9:00pm
Finance Brokers, Greenvale, VIC 3059
Financial Planning, Preston, VIC 3072
Open until 5:00pm
Finance--Short Term Loans, Gladstone Park, VIC 3043
Banks & Financial Institutions, Maribyrnong, VIC 3032
Open until 4:30pm
Finance Brokers, Clifton Hill, VIC 3068