What to do when you want a new home but you don’t have the deposit
You’ve tried saving every spare dollar for your new home deposit but unfortunately it seems spare dollars are few and far between.
Never fear, your new home option can be near!
If you like the sound of living in and owning a brand new terrace house and land package at Highlands estate, it is possible with just $8,000.
- There’s a new home loan product in the market that a reputable financial broker, like Choice Home Loans, should be able to offer you, which in some cases only requires an $7,500 deposit of non-genuine savings
- This is vastly differently to what most lenders require from first home buyers, as they usually like to see a 10 – 20% deposit of genuine savings, which can be as much as $72,000 for a $360,000 house and land package.
- Also, some home loan products are now accepting rent payments as evidence of genuine savings so it’s best to speak to the pro’s.
There haven’t been many lending solutions that require such a low deposit so if you’re struggling to save, it’s a great time to explore your options and speak to a Choice Home Loans consultant today.
You can have a chat with a qualified consultant on email, phone 1300 2 CHOICE or pop into one of the Choice offices in selected Porter Davis displays.
How are you finding saving for a deposit?