100% Home Loan
100% First Home Buyer Home Loan
100% Owner Occupier Loan
100% Interest Saver Home Loan
Another form of First Home Buyer Loan is the;
Equity Finance Mortgage (EFM)®
Some other No Deposit Loans include;
106% Home Loan and 106% Investment Loans
100% Flexi Choice Home & Investment Loans
- NIL application fee
- NIL first valuation fee
- NIL account keeping fee
- Up to 100% LVR (owner-occupiers and investors)
- FREE redraw – no minimum
- FREE lump sum repayments
- Up to 5 Years Interest-Only option
- Direct Debit & Salary Credit: weekly, fortnightly or monthly
- Lifestyle Option available
- If for investment purposes must hold 20% equity in other residential real estate.
There are 3 basic types of No Deposit Home Loans
1) No Genuine Savings Required where the establishment fees required for the purchase of a property do not have to be revealed. These establishment fees could be in the form of "First Home Owners Grant, a gift or even a "Personal Loan".
2) Genuine Savings Required where the establishment fees required for the purchase of a property must be shown in the form of consistent savings. Although most lenders do not make this a stipulation nowadays, you may be able to obtain a better loan rate by showing Genuine Savings.
3) 106% Home Loan whereby the applicant can borrow the establishment fees thus you can pocket the FHOG Grant or retain any savings you may have, for any other worthwhile purpose.
See More Info spec page for Home Loan 106%.
See More Info spec page for Investment Loan 106%.
No Deposit Home Loans do require that you have a clean credit history plus you must have proof of income.
Key Points for First Home Buyers
Buying your first home is an important step. The right preparation plus understanding your obligations and commitments is crucial. A small amount of leg work could save you unnecessary grief and huge amounts of money.
- Set a budget and work out how much you can afford
- Think about the initial deposit and mortgage repayments
- Research fees such as stamp duty & mortgage insurance
- Get your finance sorted
- Do a pest and building inspection before you buy
- Don't be swayed by beautiful furniture in the property
- Purchase at an affordable level
- If it's not in writing, it doesn't exist
More info
FHOG
Get your entitlements
If you qualify, you will receive the federal government's $7000 First Home Owner's Grant. To find out if you are eligible check www.firsthome.gov.au. There are also state bonuses that provide concessions on stamp duty and some states also offer additional bonuses.You can find out about by checking with your office of state revenue.
Mortgage Buddy will assist you with the preparing and lodgment of your First Home Owners Grant
Find your new home
There are many options available to finding your first home. You can buy a pre loved home or select a builder or property developer that will offer you a brand new home of your design. Walk the streets of the suburbs of your preference or surf the web for property sites. www.propertycatalogue.com.au
Owners Own Property listings and Real Estate Property listings.
