Applying for a home loan

How much deposit do you need to buy a house?

How much deposit do you need to buy a house?

Most banks will not lend you the entire value of a property when you purchase a home. You're usually going to need a deposit of at least 5% of the purchase price, but there are caveats to how much deposit you'll actually need.

What you need to know about Lenders mortgage insurance (LMI)

What you need to know about Lenders mortgage insurance (LMI)

For most people, especially first-time home buyers, insurance on your home loan is a necessary evil when buying a home. It’s known as Lenders Mortgage Insurance, or LMI, and although you are the one who gets the insurance, it’s not to protect you; it’s there to protect the lender.

Lender's Mortgage Insurance

Lender's Mortgage Insurance

With my first home, I only saved 10% for the deposit and had a fairly large fee for Lenders mortgage insurance from my lender. Is there any way to avoid lenders mortgage insurance for my next home purchase?

Can you be too old to apply for a home loan?

Can you be too old to apply for a home loan?

If you wish to take out a home loan, but are over 50 years old, you may be required to provide more information about your future finances. It is no longer enough to have a steady career and a consistent income.