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  • Profile photo of tommyleeannietommyleeannie
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    @tommyleeannie
    Join Date: 2006
    Post Count: 1
    May 30, 2006 - 6:09 am

    Argie:

    4For a loan over 80% LVR, insurance is needed, some lender 2offers 85%.

    1So, 20%(15%) deposit is a must to avoid mortgage insurance, 4but the insurance can be borrowed to add up to your 3loan.Difference is a little bit more repayment, interest only is also 1possible.

    0clean credit history is always a must if you want a normal rate 5and HIGH LVR. Income is OK as long as you can service your 2laon.

    If you arwe first home buyer, a grant is available for settlement.

    Your saving enable you to buy a 250k property without insurance (fhog factored in).

    Hope it helps

    Tommy

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