Lenders have been improving their offerings to attract First Home Buyers.
Examples of this are:
Genuine Savings
- Required if the Loan to Valuation (LVR) ratio is above 90%
- 6 months of paying rent will meet this requirement
- Funds held in an Other Financial Institution, Sale of Shares and Equity are acceptable genuine savings
- Funds can be generated over three months
Funds to complete
- Required for all loans
- Gifted funds are acceptable from direct family
- Borrowed funds cannot be used
- Cash in a business may be acceptable
- First Home Owners Grant is acceptable
We are also seeing the return of the high LVR, up to 98%.
For more information on a Mortgage Broker for a Home Loan in Darwin call Nick Kirlew today on 0447 499 794. You can access our Mortgage Calculator here.
