10% Deposit Home Loans from Mortgage House
It’s possible to obtain 10% deposit home loans. If you obtain the mortgage through Mortgage House, you will apply for a low deposit home loan.
Mortgage House low deposit loans offer several benefits. Namely, a homebuyer becomes a homeowner much quicker. The trade-off is higher interest rates. However, the benefits of homeownership outweigh the interest rate.
As a homeowner, your monthly repayment goes toward a property that you own. When you rent, you pay almost the same amount in many cases. The downside is that when your lease expires, you have nothing of your own to show for it.
Even though you pay a higher interest rate with a low deposit mortgage, you start building home equity. Home equity is how you start building wealth too. Industry insiders believe that it takes five years to build meaningful home equity. Nonetheless, you’re on your way.
Once you own property, you have a mechanism at your disposal that hedges against inflation. You can also leverage the property into more favourable loan terms after at least one year of positive repayments.
Loan specialists at Mortgage House have the knowledge and tools to walk applicants through the application process. They also cover current home loan rates attached to this mortgage.
10% Deposit Home Loans Conclusion
10% deposit home loans have several advantages. The Mortgage House low deposit offers several benefits. Namely, a homebuyer can become a homeowner even though they haven’t saved a 20% deposit. To start the application process, contact our loan specialists.