No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in MORNINGTON , 3931 is $635,000 this month which means that a mortgage for 80% of that value would be $508,000.
MORNINGTON 3931 has seen a high level of growth in it’s population over the last five years.
Mortgage brokers in MORNINGTON, 3931 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,300 to $1,738.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MORNINGTON, 3931 should have seen some difference. While the latest census median annual household figure income is now $53,300, it was $44,465 back in 2006, which is a net increase of $8,834 Subtract from that the median mortgage repayment increase of $5,256 and a mortgage broker’s clients could be up to $3,578 better off each year even without factoring in mortgage rate cuts.