This could possibly be the best home loan offer of 2014 (and even into 2015)! One of our lenders has launched a new home loan (for your principle place of residence) product whereby they are reducing the lender’s mortgage insurance premium (LMI) from several thousand dollars to $1! Standard bank criteria, credit assessment and verification of documentation is still required.
As an example, I’ve included a few scenarios below to show how much you could be saving – a pretty massive amount which you keep in your pocket!!
- $300,000 purchase price @ 90% = $3,885, now $1
- $500,000 purchase price @ 90% = $8,440, now $1
- $700,000 purchase price @ 90% = $14,970, now $1
There are a few terms and conditions that will apply, including standard lending assessment and the loan needs to be to purchase an owner occupied property but contact our team for further information. A terrific mortgage product offering, if you would like further information contact our team or call us on 1300 88 73 28.