24 Apr 2022
How Can I Make My Repayments to My Mortgage House Home Loan?
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If you are purchasing a home in a flood zone, it may be challenging for you to secure a home loan. However, depending on the flooding history of your property and your current financial situation, the brokers at Mortgage House may be able to help you secure a home loan.
If you are applying for a home loan for a flood-affected property, your lender may require you and your property to meet certain criteria. These criteria help lower the risk for lenders, and include:
Most traditional lenders consider flood-affected properties to be high risk. Due to the risk, they may deny your home loan application, or they may require additional documentation. This documentation may include flood records and property valuation reports. At Mortgage House, we may be able to help you secure a home loan for a flood-affected property using the following guidelines:
If you are purchasing a flood-affected home, contact the brokers at Mortgage House. We are a non-bank lender, meaning we have fewer lending requirements and offer home loans for higher-risk properties.