Borrowers who want to buy a home they can live in might apply for owner-occupied home loans. Owner-occupied home loans can be used to buy a pre-existing residence, construct a new home (land & building), or renovate an existing one.
You may borrow up to 95% of the purchase price of an owner-occupied property, including LMI. Few banks will lend up to 98 percent inclusive LMI; however, the higher interest rate will be in effect.
Knowing how much you need to borrow is always vital before making a purchase. Your ability to borrow money will be influenced by several circumstances, such as your income, your eligibility for homeowner grants, the amount of the required down payment, and other loan obligations.
Meeting with our dependable lending expert will guarantee that you are aware of your possibilities.
