Home Deposit Finance
Don’t have enough savings yet to buy a home? Don’t worry, we can help!
We know it’s hard to get on the property ladder! Saving up for a deposit can take years and while you are saving properties keep getting more expensive putting that goal further out of reach and creating sometimes an endless race to the finishing line. With every year you spend saving, another year goes by where you don’t have a property accumulating value for you.
We get it, and we are here to help with a revolutionary new finance product – Home Deposit Finance.
Warning: Invalid argument supplied for foreach() in /home/customer/www/moneyforjam.com.au/public_html/wp-content/themes/finance-child/templates/content_blocks.php on line 34
We can lend up to a maximum of $140,000 for a couple depending on their circumstances. Usually, that large an amount is not required as for people looking to buy a home to live in they only need between 6-8% of the property price set aside.
This is entirely separate, these funds are to be used as a deposit on a home of your choosing and the home loan will be done separately after you have picked a home and signed a contract. We can help you with the mortgage too.
Even better! We can 'top up' your savings to speed up your journey to your chosen home. Give us a call to see how much you would need.
This depends on a lot of factors, such as your income and overall situation, but as a general rule, you can get a home that is worth roughly 10-11 times your total deposit (this includes the funds we get for you) This is a rough estimate so if you want an exact figure get in touch and we can let you know an exact number.
Depending on how much you need to borrow and your circumstances this will change, but your repayment could be as low as $110 per week for a $30,000 loan.**
** This is an estimate only and does not constitute a Finance Quote, we will provide the exact repayment amount before you apply for a loan, this estimate is based off a 7-year loan term