No Deposit? ....No Problem!
Below is the general information we have been giving clients about our 100% loan products.
Unfortunately at this very moment, it is not possible to get 100% lending. the various suppliers have pulled out.
We are expecting this to change at some point this year all going well. so if you are wanting to get into a home with no deposit, please drop me an email at alan@mortgagemax.co.nz so i can give you some hints and tips on how to get ready for when the products are ready again.
>>>>>>
The 100% home loan or No Deposit Home Loan is a great way of getting into your own property now rather than waiting till you have scraped together a deposit. By the time you have saved a deposit, you could find house prices have increased more than your savings!
100% home loans are a complex product so it pays to talk to us first so we can discuss the options. We can even obtain 100% lending for buying an investment property.
The key criteria are:
- Good stable employment
- Solid regular income
- Clear credit history is desirable
- Minimal outside debt like HP’s and personal loans
There is no limit to how much you can borrow on a 100% home loan and the loan amount is directly related to what your income and expenditure is. Mortgagemax can access 100% home loans through major banks and non bank lenders. Bank's 100% products can sometimes be slightly cheaper but tend to be stricter with eligibility criteria.
A non-bank lender can be helpful if you have some extra consumer debt repayments, you may have some adverse credit history or we need a bigger loan amount. Mortgagemax will explore all the options and come up with cost effective options for you to choose from.
If you have got some cash saved but not quite enough for a 5% deposit, we may clear any consumer debts you have (like HP’s) before obtaining a 100% loan. This means we can now use your additional surplus income in the affordability calculations. It’s all about lateral thinking to come up with a solution.
There is the option to have parents or a family member as guarantor or co-borrower. This option has negatives and positives and it pays to discuss these with us.
At Mortgagemax we do many no deposit 100% home loans and our clients are always elated at getting into a home with no deposit and often at standard mortgage rates. We make the process as simple as possible and enjoy advising you through the home buying process. Our recent 100% home loan clients include a couple on combined income of $92,000 buying a home of $345,000. Another bought an apartment of $325,000 on a single income. We have also been able to help people aged in their 50's buy a home with no deposit.
By using a no deposit 100% home loan you will be better off by paying yourself ‘rent’ rather than your landlord! Home prices in Wellington have climbed 10-15% in the last year so it makes good sense to do it if your situation allows.
Our FREE unique 3-Step Plan will help get you into your first home with no deposit. Or call us now to find out if a 100% home loan will work for you.
No Deposit? ....No Problem!
Below is the general information we have been giving clients about our 100% loan products.
Unfortunately at this very moment, it is not possible to get 100% lending. the various suppliers have pulled out.
We are expecting this to change at some point this year all going well. so if you are wanting to get into a home with no deposit, please drop me an email at alan@mortgagemax.co.nz so i can give you some hints and tips on how to get ready for when the products are ready again.
>>>>>>
The 100% home loan or No Deposit Home Loan is a great way of getting into your own property now rather than waiting till you have scraped together a deposit. By the time you have saved a deposit, you could find house prices have increased more than your savings!
100% home loans are a complex product so it pays to talk to us first so we can discuss the options. We can even obtain 100% lending for buying an investment property.
The key criteria are:
- Good stable employment
- Solid regular income
- Clear credit history is desirable
- Minimal outside debt like HP’s and personal loans
There is no limit to how much you can borrow on a 100% home loan and the loan amount is directly related to what your income and expenditure is. Mortgagemax can access 100% home loans through major banks and non bank lenders. Bank's 100% products can sometimes be slightly cheaper but tend to be stricter with eligibility criteria.
A non-bank lender can be helpful if you have some extra consumer debt repayments, you may have some adverse credit history or we need a bigger loan amount. Mortgagemax will explore all the options and come up with cost effective options for you to choose from.
If you have got some cash saved but not quite enough for a 5% deposit, we may clear any consumer debts you have (like HP’s) before obtaining a 100% loan. This means we can now use your additional surplus income in the affordability calculations. It’s all about lateral thinking to come up with a solution.
There is the option to have parents or a family member as guarantor or co-borrower. This option has negatives and positives and it pays to discuss these with us.
At Mortgagemax we do many no deposit 100% home loans and our clients are always elated at getting into a home with no deposit and often at standard mortgage rates. We make the process as simple as possible and enjoy advising you through the home buying process. Our recent 100% home loan clients include a couple on combined income of $92,000 buying a home of $345,000. Another bought an apartment of $325,000 on a single income. We have also been able to help people aged in their 50's buy a home with no deposit.
By using a no deposit 100% home loan you will be better off by paying yourself ‘rent’ rather than your landlord! Home prices in Wellington have climbed 10-15% in the last year so it makes good sense to do it if your situation allows.
Our FREE unique 3-Step Plan will help get you into your first home with no deposit. Or call us now to find out if a 100% home loan will work for you.