You have found the house of your dreams, and you are ready to take your first step into the daunting world of obtaining a home loan. As you prepare to take your first leap, let SR Finance help you navigate the process.
SR Finance has helped many first home buyers get on the property ladder a little quicker. In some circumstances Susi can arrange a home loan that lets you borrow up to 100% of the property value.
The first thing Susi needs to do is determine your needs and long term goals – what you hope to achieve. Then Susi can find the right loan from the panel of lenders to suit your individual requirements; looking out for your best interests.
Do I need a deposit?
Yes, most lenders want to see at least 5% genuine savings towards your loan. Genuine savings means funds that have accumulated over a period of 3 months or longer in a nominated account.
However, there are circumstances where a deposit is not needed; in the instance when a parent or family member becomes Guarantor over your loan. See the SR Finance fact sheet ‘Family Equity Loan Explained’ in the download section for more detail on this loan, or contact Susi.
How much can I borrow?
Your borrowing capacity depends upon your income and other loan obligations you may have. The lenders have an assessment rate that they apply to ensure they have taken reasonable steps to avoid over-committing you.
What’s next?
Contact Susi from SR Finance, for a no-obligation consultation. You have nothing to lose and everything to gain.