Is your rent holding you back from buying?
For the first time in a while, a home loan is available that allows you to buy a home with a deposit as low as 2.2%.
How does it work?
This process involves two loans:
- Primary Home Loan: Provided by a mainstream lender, this loan covers 80% of the purchase price.
- Secondary Loan: This loan depends on the deposit you have saved. It covers the cost of Lenders Mortgage Insurance and the remaining amount needed for the purchase.
Asa general rule, you can borrow up to 100% of the purchase price with a minimal deposit as low as 2.2%.
Who is this loan suitable for?
This type of loan is ideal for individuals or couples with high incomes who have the capacity to borrow the full amount but may find it challenging to save for a deposit due to rental costs.
How do I qualify?
The process is quite simple. Book in a no obligation free appointment so one of our brokers can assess your borrowing capacity. If you can borrow the required amount we can then progress your enquiry to a pre-approval. This is all free and there are no application processing fees from Westlend.
Once you have obtained a pre-approval you can start looking for a home.
Contact Us today by booking below: