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Need a Home Loan but the Banks have said No?
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Fill in the form online or phone 1300 856 390 and one of our qualified consultants will be in contact with you.
Low deposit home loans have changed since the GFC which means they are only available with the help of a family member going guarantor. This is where they allow some of your loan to be secured against their home for a short period of time. If this is not possible there are a few options. Even though no deposit home loans are no longer available, we are still able to access loans up to 97% to 98% of the property purchase price. The small deposit can come from any source which can include a gift, sale of an asset, savings, tax refund etc.
Although some banks require you to show 5% genuine savings over 3 months, we have banks that can use rent paid over the last 12 months to a property manager in lieu of this genuine savings requirement. If you are a first home buyer you can even use your First Home Owners Grant to cover some of the purchase cost such as conveyancing fees, government registration and transfer fees. If you are not a first home buyer you will need additional funds to cover stamp duty, legals plus mortgage insurance.
If you have some savings or able to sell an asset, obtain a gift or have a willing guarantor, we encourage you to make an enquiry now to let us help you get into your own home.
6 Good Reasons To Choose ABC Mortgages
1. Super Fast Approvals: ABC Mortgages are now able to access super fast conditional approvals for a full range of loan products available in Australia including standard variable, line of credit, construction, Lo-Doc (80% LVR now available for Lo-Doc) and fully verified. The whole process can be completed in less than 60 minutes in your home or our office. Once your details are entered into the computer, an indicative decision can be given in 60 seconds!
2. Choice: We can offer you far greater choice. Your bank can only offer you their own products (on average about 6-10). We have a choice of 30 lenders and 400 different loans. Our advanced software instantly selects the most appropriate loan for your circumstances.
3. Accessibility: You can call us any time, even outside of office hours to check on the progress of your loan application.
4. Protect Your Credit Rating: Banks and lending institutions can be “quirky”. You may be in a solid financial position but fall just outside a particular lenders loan requirements and have your loan declined on a technicality. This will appear on your credit report and may have adverse consequences for your next loan application. Our state of the art software can determine which lender will lend to you and how much (the amounts vary dramatically). We are also able to run a detailed scenario by a lender to gain an “approved in principle” for your loan application without affecting your credit rating.
5. Fully Accredited: ABC Mortgages is fully accredited with 30 major banks in Australia and lending institutions and our mortgage planners are Accredited Mortgage Consultants with the MFAA (Mortgage and Finance Association of Australia) or the FBAA (Finance Brokers Association of Australia). You can be assured that you are dealing with fully qualified and accredited mortgage professionals.
6. Service: We’re on your side and we are just as keen to get your loan approved as you are. We try harder to get your loan across the line!