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Your borrowing capacity depends on several factors, including your income, living expenses, existing debts, savings, credit history, and the size of your deposit. Lenders will assess your overall financial position to determine how much you may be eligible to borrow.

By providing us with your financial information, we can compare multiple lenders and help assess your borrowing capacity to find a loan option that best suits your needs and goals.

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In most cases, lenders require a deposit between 5% and 20% of the property’s purchase price. A larger deposit can help reduce your loan amount and may help you avoid paying Lenders Mortgage Insurance (LMI).

Our brokers can also guide you through available government schemes, first-home owner grants, and stamp duty costs to help make your home-buying journey more affordable and easier to understand.

📞 Speak with a local expert to explore your borrowing options and find out how much deposit you may need.

📲 1300 234 863
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Are you confused between an investment loan and a home loan? 🤔

While both are used to purchase property, they are designed for different purposes and come with different lending requirements.

A home loan is typically for a property you plan to live in as your primary residence.
An investment loan, on the other hand, is used to purchase a property intended to generate rental income or long-term capital growth.

📞 Thinking about buying a home or investing in property? Get in touch with us today, and let’s find the right loan option for your goals.

📲 1300 234 863
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Many borrowers use the equity built up in their existing home as a deposit for an investment property. Equity is the difference between the current value of the property and the remaining balance on the home loan.

Want to know how much equity you could use towards an investment property? Let’s discuss your borrowing options.

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The time period after signing a property purchase contract during which the buyer may cancel the agreement without facing legal penalties.

Reach out to us today!
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Are investment loan interest rates higher? Generally, yes, due to higher perceived risk by lenders.
Investment property loans often come with higher interest rates compared to owner-occupied home loans because lenders see them as a higher risk. If financial difficulties arise, borrowers are statistically more likely to prioritise repayments on the home they live in first, rather than an investment property.

Contact us today, and let’s make it happen.
📲 1300 234 863
🌐 mylocalbroker.com.au