Home Loan Broker

You are ready to become a homeowner if you have the following things in place:

How much Deposit must I have? – The bigger the better when you’re saving for a home. As a rough guide, aim to save 20% of the purchase price plus enough to cover costs, however, you can have as little as a 5% deposit.
Genuine savings
Most lenders need to see some form of genuine savings! Lenders know that people who have saved more than 5% of the purchase price in a savings account, shares or term deposit, are far more likely to pay back a home loan than people who have no savings. Put all of your spare funds into a separate savings account and keep making regular contributions.

A regular savings habit– A solid track record of employment and a history of regular savings in your bank account will make it easier for you to get a home loan.

Pre-approval for a loan– Compare a few different lenders and loan products before you decide. Ask your Trusted Mortgage Broker for a breakdown on each home loan so you can compare more easily. Once we recommend a home loan that is not unsuitable for your individual needs, you’ll know what the repayments will be and how much you can afford to spend on a property.

Some additional savings– These will act as a buffer if interest rates rise and your repayments increase.
Did you know that you can have less than a 20% deposit to buy a home?

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