Buying a home is a big step! There’s a lot to consider, from the merits of buying over renting, doing your research, inspecting a property, making an offer, contracts and settlement. We want to take the mystery out of the home buying experience, so the Harcourt’s Buyers’ Guide will cover everything you need to know from start to finish.
How much deposit will you need to buy your home?
Most lenders will require you to have a 20% deposit for your home loan. For example, if you wish to purchase a home worth $400,000, you would require an $80,000 deposit. However, some lenders have loan products to borrow up to 90% of the property value.
If you don’t have a 20% deposit and need to borrow more than the 80%threshold you should speak to a mortgage adviser who can talk you through your options. At Harcourts, we’re thrilled to be able to provide you with a complete service, from sorting out your finances, arranging your home, contents and personal risk insurance, to moving into your brand new home. Our partner Mortgage Express o.ers a comphrehesive range of financial and insurance products and services. For more information please talk to your local Harcourts sales consultant about Mortgage Express.