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Deposits, Mortgage Fees & Funds To Complete

Most lenders are willing to finance home purchases of up to 95% of the value of the property, provided you have stable employment (in your current job for over 6 months), a clear credit file and evidence of genuine savings (proof that you have saved 5% of the purchase price, eg. 6 months savings statements). Some Lenders may even add an extra 2% to help cover lenders mortgage insurance meaning you may be able to get a 97% loan.

Need financing?

Working with a mortgage broker can help make the process easier and help you find the best products for your needs.


More FAQs.

When considering a mortgage, it's advisable to research different lenders and their product offerings to determine if they provide offset accounts as an option.

Several costs come with refinancing a home loan, although some of these costs are added to your new mortgage. You can get a rough estimate of the cost to refinance your mortgage by using a refinance calculator, or engaging a mortgage broker.

On settlement day, it's important to consider tasks such as reviewing the final settlement statement, ensuring funds are available for the down payment and closing costs, and conducting a final inspection of the property before completing the purchase.