Are you looking to buy a home in Perth but feel you don’t have enough savings for a large deposit? Low-deposit home loans can help you get into the market sooner. The great news is that with a low-deposit home loan, you can buy a home in Perth with only a small deposit. In some cases, you may need as little as 5% of the purchase price.
This means you could be on your way to owning your own property with just a fraction of the amount you would need for a regular home loan. If you are looking for low-deposit home loans in Perth you can contact Osinski Finance.
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When it comes to low-deposit home loans, the lender will need to be satisfied that you are a responsible borrower. This means that you should have a good credit score and a steady income. You will also need to show that you can meet the loan repayments.
Once you have been approved for a low-deposit home loan, you will need a guarantor, such as a family member or friend, to back your loan. This provides the lender with extra security, which helps to offset the risk of lending to someone with a small deposit.
Be aware that if you do not have sufficient savings for a deposit, you will need to factor in additional costs such as mortgage insurance and stamp duty. However, this doesn’t mean you can’t get on the property ladder.
Low-deposit home loans provide an opportunity for those with limited savings to get into the property market in Perth. It is a great way to start your journey to home ownership.
So if you’re looking to buy a property in Perth but don’t have enough savings for a large deposit, a low-deposit home loan could be your ticket to owning your own home.
