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Just wanted to enquire about a equity loan to build a new shed on my property
Hi Michael, This is Finder, a comparison site, not Aussie itself. You can contact Aussie by phone on 13 13 33.
Hi guys so I own my unit outright no money owing paid for bought in 2020 I would like to sell / rent out and borrow on it to purchase myself another home but I’m not working as yet can I still have a chance
Hi Annmarie,
Lenders assess your loan application based on a number of factors, include your ability to repay the loan. Without any income, it may be difficult to get loan approval as the banks have a regulatory obligation to ensure you’re in a position to repay the loan.
The amount of savings you have, along with any investments from shares, bonds or other sources, can also play a role, so it’s worth contacting a bank or broker to see what your options are and what your borrowing power might be.
Hope this helps!
I am a single mum of 2 kids (7-4), never owned a house before and getting centrelink parenting payment of 26k and work part time permanent 30k, child support 6k and i was thinking to increase abit my income with a casual job, ( if this helps?), any chance i have to get a home loan in perth? around 350-400k?.. thank you
Hi Liz,
It may be harder but not necessarily impossible to get a home loan. It is best to speak to a mortgage broker who can help you with your specific circumstances. They will be able to guide you with what documents you need and what your options are.
When receiving child support, you will need to provide documentation including the Family Law Court Order, bank statements showing a steady deposit history, a letter from your solicitor, and a letter obtained from the Child Support Agency (CSA).
You can also see here for a guide on getting a home loan while receiving Centrelink payments.
Kind regards,
Rebecca
who provides the optimum Reverse Mortgage for Old Aged Pensioners?
Hi Stephen,
We have a list of lenders that offer reverse mortgages here.
For the majority of age pension recipients, the use of a reverse mortgage will have no effect on current entitlements; it’s still advisable to reach out to the Department of Human Services to see if a reverse mortgage can be structured in a way that it does not get in the way of your pension benefit.
Kind regards,
Richard
Hi, I am in Sydney at the moment and want to move to Brisbane in my first home. Would I be able to buy home in 5% deposit? I have balance of 40k
Hi Violet,
Yes, it is possible to get a home loan with as little as just a 5% deposit saved. However, you may be required to pay Lender’s Mortgage Insurance (LMI). If you are a first home buyer, you may also be able to borrow 95% of your home’s value under the First Home Loan Deposit Scheme and you can avoid paying an LMI premium.
And don’t forget you may have to pay stamp duty as well.
Kind regards,
Richard