With interest rates rising back to long term levels there is a huge demand for low deposit home loans. Buyers who have saved $100,000 over a few years are resticitd from buying a house in excess of $500,000 unles they pay for lenders mortgage insurance. The insurance costs roughly about 2% of the loan amount or $8,000 on a $400,000 loan. Low Deposit home loan co can reduce the LMI to $3000 on a $400.000 loan and NIL ion a $250,000 loan. Talk to the mortgage brokers and get your low deposit home loan today.
Lenders Mortgage insurance wotks to protect the bank not the borrower and is nothing but a wasteful expense as far as borrowers are concerned.
How do low interest rates affect property prices?
Generally when interest rates are low there is an increase in affordability and people are buy a house to live in. The loan repayments will be lower and oftend cheaper than renting out a property. The advantage of borrowing to buty a hiouse in a rising property market is related to the cappital gain that can be derived from holding on to property.
