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Can I get a home loan I don’t have a deposit,I rent at the moment and I pay $760.00,a fortnight rent.
Hello Patricia,
Thanks for the question.
While getting a home loan without a deposit is largely impossible today, there are circumstances where this may be possible with a family guarantor. This means that whoever guarantees your loan is responsible for it in the event that you can no longer make repayments. You may also learn more about home loan deposits, and a guide to how home loans without a deposit could work.
Remember that getting a home loan will involve a lender looking at your current debts, assets, and income to assess whether or not you are eligible for a loan. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
I hope this helps,
Marc
Just wanting to consolidate our personal loan and our loan. Our home loan is on a fixed interest rate and expires January 2015 just wondering if we pay that out early will there be cancelation fees?
Hi Nigel,
Thanks for your comment.
It is very likely that you will have to pay discharge fees and exit fees. If you’d like to discuss this with Aussie, please contact them directly.
Hope this helps,
Shirley
Interested in refinancing home loan. Currently with Commonwealth Bank
Hi Shannon. We’re a comparison service and offer information to our users. Please rephrase your question so we can help, or if you would like to speak to an Aussie mortgage broker, can you please click the enquiry button to find out more. Jacob.
We are considering the refinance to consolidate the credit cards & reno. We are both self-employed. Since 2007 our lender is Westpac.
Our house value is around 480K+.
Home loan from Westpac is 351K. Is there any chance to top up to 390K.? How much income needed for 390K loan? If you can send me a e-mail we will highly appreciated. I will contact you after discussion with my husband.
Hi Minie. Thanks for your question. It’s definitely possible to refinance your home loan and consolidate your credit card debt on to your mortgage. The entire amount will be considered when the lender assesses your income. You will need to factor in things like mortgage insurance and refinancing costs when you’re considered a refinance – be sure that the total amount you wish to borrow is less than 80% of the value of the property, as there’s no point in paying LMI on a property twice. You will need to talk it over with broker to find out how much you can borrow, you can get in touch with a broker through the enquire links on the review pages. Jacob.
I’m looking to repay credit cards, a personal loan and refinance existing home loan can you help?
Hi Steven. Please contact Aussie directly if you would like to discuss how they can help. Generally speaking, when you refinance a home loan, you will be able to consolidate / capitalise credit card and personal loan balances on to the home loan provided that it meets with the loan providers lending criteria. You can get in touch with Aussie through the enquiry link on their loan’s review pages. Jacob.