Perth is a modern, vibrant city located on the Swan and Canning Rivers and, although it remains one of Australia’s most expensive capital city housing markets, demand for housing has stayed strong due to the state’s population growth and bumper economy flush with mining revenue.
Who uses a Your Local Finance mortgage broker?
Your Local Finance mortgage brokers are experienced in acquiring mortgages for all types of borrowers including:
- First Home Buyers
- Borrowers looking to refinance
Our mortgage brokers can be found in Perth, Mandurah, Joondalup, Bunbury,Fremantle, Kalgoorlie and throughout Western Australia.
What service does a Your Local Finance mortgage broker provide?
Your Perth mortgage broker assists you at every step of the home loan process. The first step is to arrange an initial appointment where your existing financial situation and future goals are discussed. Your mortgage broker will then draw on a panel of over 30 different lenders to research and select the best product to meet your needs, whether you require the lowest possible interest rate, less stringent credit criteria, debt consolidation, or low entry and exit fees.
How much deposit do I need?
Generally speaking, you need a deposit of at least 5% of the property’s value, but you also need to consider additional costs involved with your purchase such as legal fees, stamp duty and Lenders Mortgage Insurance (if you’re borrowing more than 80% of your property’s value). It you’re a First Home Buyer, you may be fortunate enough to have received a monetary gift from family or friends to help you on your way, however be aware that most lenders will require you to show 6 months’ regular savings history as part of your home loan application.