The property will be held as security for the home loan
Buyers cannot borrow more than the house is worth
There will be some government fees to pay for the purchase which depends on the property price and state
The minimum deposit most banks require is five per cent of the purchase price
Lender’s Mortgage Insurance or risk fees are payable if buyers have less than 20 per cent of the purchase price to go towards the purchase
Lender’s Mortgage Insurance covers the bank NOT the customer
Conveyancing fees are approximately $1500 plus utility adjustments
Pre-purchase building and pest inspections cost approximately $300 each
Pre-approvals or homeseeker loans are available before you find a property
If you are considering purchasing a home for the first time, it is best to speak with a professional about your individual circumstances and needs to get you on the right track to owning a home.
Disclaimer: These policies are general in nature and may differ slightly from bank to bank.
Aussie Dream Home Loans
Phone: 0439 772 373aussiedreamhomeloans.com]]>