Thinking about a new home but cant save as yet ?
Updated: Jan 2, 2020
see our examples : like Jane !
Jane earns $75,000 per annum and had a $10,000 deposit saved. She had been to the bank but they said she needed 10% deposit which is around $50,000. We provided her with $30,000 equity and she agreed to save a further $10,000 over the next 12 months until the home starts being
built. She obtained the loan from one of our lenders and she secured one of our packages. She sold her car for $20,000 and bought one for $10,000 during this time to get her savings up to 10%. She had paid off her credit card of $3,000 during this time. She is now looking forward to moving into her new home in the southeast of Melbourne. Once her home is completed, she will refinance in 2-3 years' to pay back her equity deposit of $30,000. As her home is in a great location and it was a turn-key investment, we are expecting it will have good capital growth well above $550,000 in the next few years. That $50,000 her home has gained in value, she would not have been able to save in the 2 years if she continued renting. go to www.mumndad.com.au