Hi,
I am keen to buy my first property in Sydney to live in, preferably near Brighton le sands, Rockdale, Maroubra.
Our target price is up to 850K. I can only pay 5% as a deposit.
Looking for a 2bhk, 1-2 bath, parking
1) Is this the best time to buy now as the interest rate is too low?
2) Is there any Government concession for the FH buyers?
3) Which is the best bank (with least interest rate ) for home-loan at the moment?
4) Should I go to a mortgage broker other than a bank?
4) Taking the LMI would be a good option or waiting for 20% saving?
5) Is it recommended to get help from a solicitor also?Thanks
Hi Tanmoy,
I think its worth having a chat with a lender or broker to see if you can get finance to stack up and to what amount you can borrow. 95% loans at the moment might be challenging depending on your circumstances.
To help with your research, I’d suggest taking a look at whatsuburb.com.au
this site is great for breaking down the performance of areas, against their rental yield and price range. It will quickly help narrow down what areas could make sense for your situation.
Good luck!
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