Accessible home loans for Melbourne buyers
Saving up a deposit to purchase a home can be a significant hurdle, especially for first home buyers or young people renting whilst trying to enter the property market. For many borrowers who do not have the funds to contribute towards a mortgage or a deposit amount, a low deposit or no deposit home loan is an attractive option. Providing greater accessibility to the property market, these no deposit and low deposit home loans Melbourne can get you into a new home sooner.
Low deposit home loans Melbourne
Most lenders will require a minimum of 5% genuine savings as a deposit in order to purchase your first home. This means that you must have the 5% deposit amount in your bank account for a period of time in order to prove your ability to save money. But here at Bird & Young, we understand that it is not always possible to demonstrate genuine savings or to have the full 5% deposit saved. That’s why we work together with you and our extensive group of lenders to find a home loan that’s right for your situation. We even have access to a number of products that may allow you to get into your new home with less than the full 5% deposit or genuine savings.
Who do low deposit home loans suit?
Are you looking for a way to enter into housing market? Low deposit home loans Melbourne might just be your ticket to home ownership. Low deposit home loans are popular among first-home buyers and next home buyers who are unable to save the large deposit that is usually necessary in order to purchase a home. The main advantage of a low deposit home loan is that it offers an opportunity to purchase your own home sooner, without wasting money on rent — or having to live with your parents!
No deposit home loans Melbourne
A home loan with no deposit might sound impossible, but it is more than achievable. With Bird & Young, you can be approved for a loan of 100% of the purchase price of a home if you can meet certain conditions such as having a suitable loan guarantor. No deposit home loans Melbourne allow you to borrow the full purchase price of a property without the need to save for a deposit. As your lender, we will not require you to demonstrate a savings history, and we will only request funds to cover transactional costs such as legal fees and statutory charges like stamp duty.
Do I qualify?
To find out if you qualify for low deposit or no deposit home loans Melbourne, please call 1300 469 667 and speak with one of our qualified mortgage brokers. You’ll not only receive objective answers to your questions, but you’ll enjoy personable service too.