01 Jun 2022

Can a Mortgage Cover My Stamp Duty?

Mortgage And Stamp Duty

Although it would make the home buying process easier, you cannot add your stamp duty to your monthly mortgage payment. Instead, the stamp duty is expected to be paid as soon as a home is bought. Mortgage House lenders and specialists can help you find unique and innovative ways to pay your Stamp Duty.

Instead of a mortgage, however, you will need to pay your stamp duty with your initial deposit. It is good to have an estimate, and the best way to do so is by using an easy and free online stamp duty calculator. With the calculator, you need at least the property value estimate for your future or dream home and the state that the property resides in. The calculator will produce an estimated number. It is important to consider that a stamp duty calculator is subject to change. 

Since the percentage taxed on a home can change, the number may increase or decrease in a short span of time. Mortgage House can provide a budgeting tool and response through its specialists to help you achieve your homeownership dreams!

Mortgage And Stamp Duty Conclusion

Although it is true that you cannot pay your stamp duty by using your monthly mortgage payments, there are many methods you can use to save money for a large deposit. Mortgage House lenders can happily assist you in finding the estimated stamp duty on a home after its purchase. Our experts are ready to assist and come with decades of experience and knowledge.

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