NO DEPOSIT / LOW DEPOSIT HOME LOANS
No Deposit Home Loans
In this day and age with the cost of living rising, it is extremely difficult for a couple with children to save a reasonable amount for a deposit towards the purchase of a family home. We understand that living costs plus rental expenses put families into situations where buying a home is beyond their reach.
Low Deposit Home Loans
It will enable you to obtain a loan by demonstrating evidence of 5% genuine savings held in your current Savings Account and/or Term Deposit Statements or Share Registry Certificates for 3 months. (e.g. if you are seeking to purchase property worth $500,000; $500,000 x 5% = $25,000). Evidence of your 5% genuine savings will enable the lenders to determine your ability to manage your finances.
If you are borrowing from a lender, and your Loan-to-Value Ratio (LVR) is greater than 80%, by being able to demonstrate a 5% genuine savings, you are much better placed to obtain a better interest rate product.
Some lenders will also allow you to obtain a loan based on non-genuine savings, whereby you do not need to demonstrate 5% genuine savings being held in your Savings Account for a period of 3 months. Interest rates are marginally higher for non-genuine savings products in comparison to a genuine savings product. Our team of finance experts will be able to provide you with further details and updates on the current offerings available by various lenders.
Mortgage insurance is applicable on all borrowings over 80% lending ratio on a full documented loan application.
Why Choose Singh Finance?
It is always advisable to start the finance application process with Singh Finance as soon as possible, because:
- We know what the standard requirements for No Deposit/Low Deposit home loans are
- We can accommodate a much faster credit decision for you, provided that we receive from you all the required documents as soon as possible
- We can calculate how much you can borrow
- We can calculate your interest rate and the monthly loan repayment amount
- Our team of expert finance brokers has successfully helped a number of clients with No Deposit/Low Deposit home loan
- We know the numerous lenders credit policies and procedures, as we deal with them on a regular daily basis
While you concentrate on getting your home, our team of professionally qualified finance brokers will:
- Look at your overall financial position, and they will establish a budget for you
- Eliminate the stress and time it takes in running around trying to find your own finance package solution and at the right price
Our finance brokers will also provide you with a convenient pre-approval so that you will have the peace of mind knowing that:
- Your No Deposit/Low Deposit home finance application has already been assessed by an accredited finance broker and in accordance with the responsible lending criteria
- Your finance is already pre-approved, and you will also know the conditions of your pre-approval
- You have the upper hand when negotiating the sale price with the vendor
Customized No Deposit / Low Deposit Home Loan Solution
Our team of professionally qualified finance brokers is all experts, who pride themselves on their ability to structure and implement a customized finance and insurance package solution that meets your needs regardless of the size or complexity of the project. They will also:
- Structure your No Deposit/Low Deposit home finance and your insurance package to suit your individual needs, budget and circumstances
- Help get you the best No Deposit/Low Deposit home loan deal you want in the quickest possible time and without the hassle of running around trying to find your own finance
- Liaise with the lenders to give you the perfect No Deposit/Low deposit home finance package solution and at the right price
- Offer you the highest level of customer service
- Build a strong relationship with you
- Go out of their way to develop a long term customer loyalty with you and all our clients
Contact Singh Finance Today
For an obligation free assessment and, to arrange a pre-approval for you, please contact us today or visit our website and enquire on No Deposit/Low Deposit home loan by completing our "Contact Us" page, on the website, and one of our professionally qualified and expert finance brokers will contact you, to make an appointment to see you at a time and place convenient to you.