There are 2 potential answers to this question …
Answer 1
$Nil – If your parents are able to provide a Limited Guarantee.
Answer 2
5% of the purchase price. Please note that if you are not eligible to receive the First Home Owners Grant you will also require additional funds to cover the “other costs” associated with purchasing a home / unit (e.g. Legal Fees, Insurance, Body Corp, Council Rates, etc).
Avoid being disappointed … Talk to our Mortgage Specialists to learn how to improve your chances of being approved when applying for your new Home Loan.
