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I have a great job, earning near $85k a year on paper. I have a car loan of $15k on finance. I also have a poor credit rating due to a couple of defaults. I want to buy a unit for my daughter and I, and I am looking at about $250k – $300k. I only have a small deposit of $5k-$10k. I currently pay private rent of $1500 a month and afford that easily. I am needing help to get into my own home due to little deposit and low credit score, who can help me, is a mortgage broker free of charges?
Hi Kylie,
Thank you for getting in touch with Finder.
They are free of charge because mortgage brokers receive a commission from lenders. This compensation will vary depending on the lender as well as the size of the transaction.
Basically, low deposit home loans require 5% deposit. In your case if you need to apply for a low deposit home loan of $250,000 your deposit must be at $12,500. You may refer to our guide in applying and getting approved for a home loan for bad credit. Please make sure that you seek professional help from a mortgage broker regarding your home loan application.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
Hi I am enquiring about a loan to complete the construction of a home. We are owner builders with $100k in a savings account but would like to borrow another 350k to finish the build. We own the land valued at $350,000 We have an annual gross income of 124,649 no personal loans or credit card debt or dependants. We have a $201,000 mortgage with Combank which we are comfortable repaying at $500 per month.
Hi Polly,
Thanks for your inquiry.
If you are looking to apply for a loan to finish the construction of your home, a construction loan may be the right loan for you. This loan is for making major renovations to your existing home or to a property you have bought but which needs a bit (or a lot) of work before you call it home.
You can click the link above to compare your options. Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this information helps
Cheers,
Arnold
I want to make face to face appointment with a broker today. Postcode 2256
Hi Elaine,
Thank you for getting in touch with finder.
In this page, please enter your full name, phone number, postcode or suburb and email address then you’ll get a call from a mortgage broker.
Since you want to have a face-to-face appointment then you can let them know while on the phone and they’d certainly give you options on your request.
I hope this helps.
Have a great day!
Cheers,
Jeni
I earn about $40,000, and would like to buy a home. No debts.
Hi Mic,
Thank you for reaching out. If you like to get advice from Aussie Mortgage Brokers, please fill out the form above and someone will in touch. Otherwise, you can also speak to other mortgage brokers who can take all your circumstance into account and offer you a range of lending options.
Meantime, if you like to check and compare home loans offered in the market, you may refer to our comparison table to help you find the insurer that suits you. Please review the criteria, details of the loan product and contact the lender directly to discuss your loan options and eligibility. When you are ready, press the “Go to site” button to be redirected to the lender’s website where you can proceed with your application.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
May
Hi,
I am looking into renovations for my home….. I have estimated I will need around 25,000 for the renovations. My current home loan is with Westpac and my interest rate is 3.96%. I owe 169,000 on the loan and my home is valued at a little over 195,000 without the renovations. My loan repayments are 400.00 per month I could afford to pay around 480.00 per month if required. It appears that my best option is to refinance, I would really appreciate any advice you could offer.
Thank you
Hi Susan,
Thanks for getting in touch with Finder.
Indeed, one of the options that you have is to refinance your home loan. Please refer to our comparison table to find lenders who can help you do home loan refinancing.
Moreover, another option you can explore is to look for home improvement and renovation loans.
Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
If you need a more personalised answer, please feel free to contact Aussie Home Loan brokers by using the form above or consider other mortgage brokers.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua