I want to get on to the property scene, i have $10000 saving and no debts at all, can any one put me on the right path in the best mortgage to get?
Do you have any income?
Funny IP!
I think you will need a bit more than $10k these days – unless buying a really cheap property (and then you may not qualify because of the location!).
You will generally be required to have 5 to 10% (more likely) deposit and money for costs.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi mccrills, if you are in WA there is one lender that you can go through straight away however you would have a limit of $412k.
Hi Mccrills
Where are you looking at purchasing and what sort of price range?
Richard Taylor | Australia's leading private lender
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Mccrills,
I think you will need to disclose a little bit more information in order to assist.
I don’t think it’s impossible to get into the property market with savings of $10K.
With the federal first home owners grant + federal first home owner boost + (if you are in victoria) state first home owner bonus + state regional bonus, eligible applicants can get up to $36,500 for new properties in the regional area in Victoria.However, I do agree with a saving history of 10K, it would be difficult to obtain a suitable loan – unless you have support from family in the form of guarantor. So i don’t think it’s absolutely impossible.
Again, more information is required
Cheers
Kenny
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