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Five easy steps to online pre-approval
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There are many factors which determine your eligibility for a home loan approval, most importantly your income and deposit.
As a general rule, you’ll need to put down at least 5% of the purchase price for both owner occupied properties or investment properties. Then you’ll need 5% for upfront costs, although this figure varies from state to state.
Take a look at the quick reference table to get an idea of your price range, based on your deposit. Then complete steps 1 to 5 to check your eligibility for a home loan with us.
If you’re eligible, we’ll issue you with a pre-approval certificate which you can use as a guide when looking for a property.
Step 1: Gives you an estimate of how much you can borrow based on your income only.
Step 2: Works out your minimum deposit for the amount shown in Step 1.
Step 3: Calculates your ongoing loan repayments.
Step 4: Provides details of upfront costs you can expect to pay.
Step 5: Provides a printable, easy to read summary of all your calculations.
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Quick reference |
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| Mortgage Insurance lets you borrow more against a property than you could otherwise borrow. Generally, you'll need to demonstrate ability to establish genuine equity of at least 5% of the purchase price and contribute a minimum of 3% as your deposit with mortgage insurance. |
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Maximum loan amount with
Mortgage insurance |
| Purchase price |
Your Contribution |
Home / Investment Loan |
| $100,000 |
$3,000 |
$97,000 |
| $150,000 |
$4,500 |
$145,500 |
| $200,000 |
$6,000 |
$194,000 |
| $250,000 |
$7,500 |
$242,500 |
| $300,000 |
$9,000 |
$291,000 |
| $400,000 |
$12,000 |
$388,000 |
| $500,000 |
$15,000 |
$485,000 |
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