First home buyer loan
We understand a house could often be the biggest purchase of our lives, and mortgage could typically be our biggest financial commitment.
Which is why we are here to make your life easier and provide everything you need to know about your home loans.
Since 2016, we have been helping families in Australia arrange their home loans accordingly to each of their personal circumstances, adjusting loan structure which perfectly fits each individual’s needs while getting the best rate possible.
Before you go online and browse your property, it is always important to keep in mind how much you can borrow and the amount of deposit you need to secure your first home.
The amount you can borrow(Borrowing Capacity) is influenced by your income and expenses, assets, liabilities and credit histories. Your borrowing capacity may also differ between various lenders as each of them calculate your borrowing power differently.
For most cases, you will need to borrow 80% of the property value and no lenders mortgage insurance is needed.
If you have a strong borrowing capacity and allows you to borrow more than 80% in case you do not have the 20% deposit on hands, and you are willing to pay the lenders mortgage insurance. The minimum amount of deposit you need will be 5% of the property value, however this is subject to each lender’s policy.
Some popular websites to browse properties online:
www.domain.com.au
www.realestate.com.au
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