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Follow on Google News | No Deposit - Low Deposit Home Loans - Buy a Home without any SavingsNo deposit (low deposit) home loans were introduced by lenders to help home buyers without adequate money for deposit. This is the ideal opportunity of getting home loans with higher LVR. But, remember to demonstrate stable income and lower DTI.
By: Singh Finance Pty Ltd Mortgage/Home Loan Products available Here is a list of no deposit (low deposit) mortgage home loan products for you to consider that will: >> Allow you to borrow up to 96% of the purchase price >> Allow you to capitalise the Lenders Mortgage Insurance (LMI) on top of your loan amount, which can bring the total (LVR) to 97 per cent or 98 per cent >> Allow you to borrow a maximum (LVR) of 100 per cent including LMI costs >> Allow a maximum (LVR) of 120 per cent with LMI capitalised. But a "guarantor" is required, and >> Even recognise 12 months continuous rental payments made by you as part of your genuine savings requirements It is important to remember that the risk to the specialised lender/credit provider is greater for no deposit (low deposit) loans. And so, you will pay a "premium" interest rate for the privilege, usually about 2% higher than the current market rate. Application Assessment Process When assessing your eligibility for a no deposit (low deposit) home loan ( http://www.singhfinance.com.au/ >> Ensure you can demonstrate a strong stable income >> Try to show at least some genuine savings or show your 12 months continuous rental payment statements, and >> Ensure your personal debts (credit cards and personal debts) are under control before committing to a no deposit (low deposit) home loan Seek Expert Advice As with any aspiring home owner, buying your first home at any stage of life can be an overwhelming process. Not to mention knowing which specialised lender/credit provider is willing and able to assist you can be daunting. So, having an expert finance broker on your side will save you lots of time and heartache. So, before you think it is too difficult to get a home loan, don't despair. The key to finding the right loan, comes down to employing the services of an expert and professionally qualified finance broker, who specialises in all loan products and finance solutions, said Mr. Singh of Singh Finance. He said, you need to sit down with an expert finance broker who will be able to explain that there are a number of specialised lenders/credit providers offering high "Loan-to-Value Ratio" (LVR) home loans that will allow you with no savings behind you to take on a mortgage home loan debt. So, don’t worry if you want to obtain a no deposit (low deposit) home loan. Contact a professionally qualified finance broker to help you. http://www.singhfinance.com.au is a reputed finance brokerage firm in Australia that employs a team of expert and professionally qualified finance brokers. The team will leave no stone unturned in obtaining a pre-approved low deposit home loan for you. It will even help you find suitable building and contents insurance for you. Call on 0424 190 908 today. End
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