First-Time Homebuyers: Become a Homeowner Sooner Through Mortgage House
As home prices continue to rise in Australia, it’s becoming more difficult for first-time homebuyers to become homeowners. Qualifying for a mortgage continues to become more challenging too.
Traditional mortgage qualifications require applicants to provide three months of bank statements and payslips. Plus, they require a 20% down payment.
Since it’s taking longer for the young generation to save a down payment and find gainful employment, they’re delaying several life milestones. Homeownership is one. However, the Australian government acknowledges that they should become homeowners sooner rather than later.
Of all the loan products, the mortgage receives the most security from government resources. It helps individuals start building wealth at a younger age.
Mortgage House provides mortgages that help first-time homebuyers achieve their homeownership goals. They include the low doc loan, interest-only loan, and no-fee mortgage, among several others.
Interest-only mortgages help keep repayments low the first one to five years. Mortgage House also provides introductory rates that last one to three years.
In addition, homeowners who experience financial hardship years into their mortgage can refinance it. Our loan specialists provide refinance home loan information among other strategies that keep monthly repayments affordable.
It’s OK to begin with a starter home. Then move into a larger home after building equity in the first one.
First-Time Homebuyers Mortgage House Solutions Conclusion
First-time homebuyers can become homeowners when they seek financing solutions through Mortgage House. Our loan specialists assess every application on a case-by-case basis. Then, they search for solutions that fit the applicant’s financial circumstances. Contact our team today.