Low Deposit Home Loans in Gladstone
The common misconception in Gladstone is that all lenders require 30% deposit. This is simply not true; most banks and Lenders require a minimum deposit of 5 per cent of the value of the property you are purchasing, depending on the lender and your circumstances you may be able to fund your deposit from a wide range of sources, including genuine savings, gifts, inheritance, sale of an asset, government grants.
It is important to note however that most lenders will require at least a portion of your deposit to be genuine savings. If you don't have the deposit required, you may be able to make use of family equity, also known as a limited guarantor loan. The most common form of family equity is where a family member, usually your parents, offers their existing property as security for a portion of the home loan, generally around 20 per cent.
For the right advice about your personal circumstances complete the form to the right, alternatively, Call or Text Chris on 0432 389 388 to arrange an obligation free appointment.