If you are finding it difficult to save up a 20% home loan deposit, you may still be able to borrow from a lender to buy a home - However, you may have to pay Lenders Mortgage Insurance.
Yes but what is Lenders Mortgage Insurance? and why is it needed?
Here are 8 smart strategies that could improve your chances of winning:
1.Obtain a Pre-approval
When you buy at auction you commit to the purchase then and there. This means that you need to be certain about having access to the money in time for settlement.
Purchasing at Auction without either the cash already in the bank or a finance pre-approval can be finanical suicide.
if you're unsure how to go about this contact us now.
Morningstar has outlined the likely action APRA will take to curb investor lending after the impact of its initial efforts to cool the market appear to be fading.
In a research report on Commonwealth Bank of Australia (CBA) late last week, Morningstar analyst David Ellis explored the potential impact of further regulatory action on Australia’s largest mortgage provider.
Morningstar warned that APRA could raise the minimum serviceability buffer