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Breaking down the 20% deposit myth

Breaking down the 20% deposit myth

A lot of Australians have misconceptions about home loans.  A recent housing affordability survey by Core Logic has highlighted some of those myths. Many Aussies are worried about their ability to save up a deposit. But a whooping 58% of people surveyed think that a 20% deposit is required for a home loan.

Australians are in the dark

Of those surveyed by Core Logic, 35% of people stated that they would only be able to save a 9% deposit. This is quite concerning, when you also consider that more than half of the participants thought that a deposit needed to be 20%.

In all likelihood, this means that there are huge numbers of Australians who mistakenly think that they can’t get a home loan.

Bee Finance Savvy can help if you don’t have a 20% deposit 20 percent home loan myth small deposit mortgage broker finance broker Sutherland Shire Bee Finance Savvy

Bee Finance Savvy has an extensive panel of over thirty different lenders. We have access to lenders who will provide finance to eligible applicants with deposits of less than 20%. These lenders will lend above 80% LVR. This can make it significantly easier for people to get a home loan.

A small deposit can make the difference between buying a property being a dream, and becoming a reality.

Obligation free consult

Would you like an obligation free consult about your situation? Our friendly broker Desiree is here to help. Desiree can provide you with a free assessment over the phone, to discuss what size deposit you would need to make your property owning dreams a reality. We can also help you determine what your borrowing capacity is with a small deposit – all without marking your credit file.

So get in touch today. You can call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at enquiries@beefinancesavvy.com.au .

If you would like to hear some of happy customers, check out our reviews on WOMO. https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda

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