- By admin
- In Bee Savvy - Getting the most out of your loan, Building wealth - Finance for investors, Home sweet home - first home owner finance
It can take years to save up a deposit for your new home or investment property. And steeply rising property prices aren’t helping. Mortgage insurance allows you to purchase a property with a smaller deposit.
This can put you in a position to apply for a 95% home loan. However you will still need to cover the cost of stamp duty.
Can’t I just borrow the mortgage insurance?
Finding a lender who will lend you mortgage insurance on top of your home loan can be tough in today’s market.
A lot of lenders have recently stopped allowing this completely. These policy changes can make it harder to save up if you need to need to pay for your own mortgage insurance.
Not all hope is lost however. There are a select few lenders who will lend you 95% of your property purchase price, and still allow you to borrow the mortgage insurance on top.
This can put you on the fast track to buying your desired property. In addition, it can potentially cut years off your saving time.
How Bee Finance Savvy can help
At Bee Finance Savvy, we have access to over 30 lenders. Therefore we can match you with a lender who will allow you to borrow mortgage insurance, in addition to a 95% home loan. This is available for both owner occupied and investment properties!
For a no obligation discussion on your property finance needs, call Sydney based finance broker Desiree today on 0455 131 937, 1300 140 554. You can also email Desiree at firstname.lastname@example.org .
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You may also enjoy reading this article: https://beefinancesavvy.com.au/home-loan-approval/