Lenders Mortgage Insurance (LMI) is expensive, but there are several ways to avoid paying it.Saving a 20% deposit or using a guarantor loan are two common strategies to bypass LMI.If you are a first-home buyer, you may qualify for government schemes like the First Home Guarantee.Certain professionals (like doctors, lawyers and teachers) are eligible for […]| Eden Emerald Mortgages
A good credit score (usually 600 or higher) is necessary for securing a home loan in Australia.However, each lender will have their own thresholds of what credit score they accept.While credit scores are a key factor, other aspects like income, savings, and employment history also play a role.With a lower credit score, options such as […]| Eden Emerald Mortgages
Casual employees in Australia can obtain a home loan, though they may face additional challenges due to the perceived instability of their income.To improve their chances, casual workers should maintain detailed financial records, demonstrate a history of consistent employment, and consider saving for a larger deposit.Alternative financing options such as non-conforming loans and specialist lenders […]| Eden Emerald Mortgages
Find out how long you need to be in a job to get a home loan in Australia and boost your chances of approval.| Eden Emerald Mortgages
With the Australian Government's 'First Home Guarantee', first home buyers are able to access low deposit home loans home with only 5% needed and no LMI.The Government acts as a guarantor for your home, so you don't need to pay the LMI.You can save tens of thousands of dollars by avoiding LMI.Click here to learn […]| Eden Emerald Mortgages
