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Step 2
First Home Owners Grant = $10,000
Total Deposit $50,000
Step 7
Your Equity is now $130,000 less your Home Deposit Assist of $30,000
Net Gain $100,000
Step 3
Save $8,000 on Lenders Mortgage Insurance taking your mortgage to 90% loan value ratio
Step 8
Your started with $10,000 and have profited by way of home equity
Total Gain $100,000
Step 4
No Stamp Duty for First Home Buyers
Saving $10,000
Step 5
Save on Rental Payments by moving into your home 2.5 years sooner
Saving $60,000
This simulation model is based on the following conditions:
Initial deposit of $10,000
Buying a new home for $500,000
Based on mortgage loan of $450,000
Repayments of $2,300 per month
30 year term p+I
A mortgage of $450,000 , monthly rental at $2,000 and saving $1,000 per month for a home for 12 months
Refinancing in 2-5 years
Assumes 4% capital growth per annum for 5 years
ALL LOANS SUBJECT TO LENDER APPROVAL
Here’s how to do it:
Head to our web Page
Search for the info you want
Click on apply
Click on the button and complete
Select www.mumndad.com.au