Can I Get a Mortgage Loan for Dual or Multiple-Occupancy Dwellings?
Potential borrowers who are researching the various aspects of purchasing residential properties may want to learn more about the various types of mortgage loans available to them. Mortgage loans for dual or multiple occupancy dwellings are available for potential borrowers to research and compare. However, these types of loans are more common these days.
Dual-occupancy homes refer to a single property consisting of two separate homes, dwellings, or living spaces. Dual-occupancy homes, including duplexes, are seen as more acceptable to most mortgage providers in Australia. Most banks and traditional mortgage providers will accommodate these mortgage applications.
Non-traditional mortgage providers have the potential of offering dual-occupancy loans with better rates than banks and traditional mortgage providers, such as the following examples:
- 100% if the borrower is using a guarantor
- 95% if the borrower is a first-time buyer
- 95% if the borrower is an investor
- 95% of the project and land cost if the borrower applies for a construction loan
- 80% if the borrower is applying for a low document loan
Mortgage House specialises in a vast number of loans as a seasoned mortgage lender. If you are interested in learning more about our loan offerings for dual or multiple-occupancy dwellings, reach out to our team of professionals for additional information as well as specialized assistance and advice.