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How Much Deposit Do I Need?
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The amount of deposit you need, depends a lot on what lender you get your home loan through.
There is no question about it, the more money you have to put toward your deposit, the better off you are; however, in recent months, lenders have become more aggressive in the quest to obtain your business, with more options than ever before!
Traditionally, most lenders have preferred their clients to have a 20% deposit. However, with many lenders competing for business, Lending to 90%, - 95% is becoming very popular and widely accepted by most lenders. Some even offer 100%!
If you are in the process of saving up toward your deposit, you may find the offer of a 100% home loan very attractive. Lenders are offering these loans at very competitive rates, with no need to prove any genuine savings!
With offers such as this, it may be possible to start looking for your own home today.
Give us a call today and one of our friendly consultants can work through the finer details with you.
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