How Much Deposit Do I Need to Buy a House

How much deposit do I need to buy a house is a question we get asked daily here at Go Mortgage. The answer is simple. It depends who you ask. Walk down to the local bank and you will find you may be required to pay way too much deposit. Here at go mortgage we have helped hundreds of clients get into a house with little to no deposit at all. If you need more information about how much deposit you need to buy a house with no deposit call 1300 855 244.

 

First Home Buy Fears

First home buyers are worried about getting into the property market. A new survey has revealed that more than half of first home buyers are concerned about being able to qualify for a home loan.
According to the survey by comparison website finder.com.au, 56 per cent of first home buyers surveyed said one of their biggest worries about entering the property market was the prospect of gaining a home loan.

Millenials Hit the Hardest

The highest proportion of people worried about buying their first home are aged 30-35.
“Buying your first property can be an overwhelming process and these fears can become both emotional and financial hurdles for those trying to get onto the property ladder. One in three Australian first home buyers admitted to needing help from their parents in order to break into the property market, whether this be financially, or whether it means having them as a landlord.”
The survey found the biggest fear for first home buyers is missing out on their dream location, with 72 per cent of participants selecting this option.
Almost one in five participants are looking to purchase property within the next six months.

The Deposit Problem

It is also found that the biggest hurdle is saving or coming up with a deposit
The question of ‘how much deposit do I need to buy a house?’ is often easily answered in real life however it does not mean that the banks are happy with the answers. Gifts from relatives, sale of cars or possessions are often not good enough to meet their ‘genuine savings requirements’

No Deposit Needed

Luckily, at Go Mortgage, we are ahead of the game and not only know how to present applications to the lenders but also have partnered with prominent players in the finance and building industry so that we are able to offer our ‘First Home Buyers Integral Solution’… This a ‘No Deposit’ offer which enables First home Buyers to purchase a home without a deposit as long as they meet a handful of simple criteria.

Click here to do the X questions TEST & see if you qualify to get your first home with no deposit needed or Call Go Mortgage on 1300 855 244

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