According to a recent study by Digital Finance Analytics, 4 in 10 home loans are declined. At Bee Finance Savvy, we found this statistic quite shocking. Almost half of Aussie home loan applicants are declined These statistics surprised us for two reasons. It’s shocking that nearly half of Aussie home loan applicants are going though
Saving up a 20% deposit to buy a home can be difficult for some people. Luckily there are options out there for home buyers if their deposit is less than 20%. However, lenders don’t tend to advertise the requirements for small deposits. This leaves people in a situation where they apply for a home loan,
LMI or lenders mortgage insurance is something that is often heard of in relation to home loans. But many people don’t know what this kind of insurance is actually for, or who it protects. So what exactly is lenders mortgage insurance?
Most people realise their bank statements are an important part of their home loan application. But what they don’t realise is what lenders are looking for in their statements. Lenders aren’t just looking for regular paychecks, or a good history of saving. There are lot of things lenders look for your statements – and they can cause big problems.
When people think about budgeting for a property purchase, they usually just think about the sale price. But this isn’t the only thing you need to budget for. You need to consider additional costs, like LMI, stamp duty, your deposit, and more.
We provide expert advice to help you purchase your next home, or to refinance when your needs have changed. We stay up to date with dozens of lender policies. This can save you hours of hunting around, looking for the best options. Leave that to us!