I'm recently single and looked at a little unit today that I really liked. I had a quick chat to the agent and told her my current situation, only working casually but can get perm part time (nurse, lucky!) And have $50000 deposit saved. She said I should be able to get a loan based on my deposit, saving history, mortgage insurance and income potential.
Has anyone been in a similar situation before and managed to get a loan? I really liked this unit lol!
Hi Rooey5,
I used to work at a big bank, as long as your saving have been in your account for min 3mths, your employer can provide a letter to confirm casual but ongoing employment and your credit history ok, you should be ok.
It's not the size of your deposit that devotees the loan, it's usually based on how much if tote income will go on the loan per mth. Most banks cannot lend more than - its been a while - but it was around 60-75%.
But your prob best to book an appt with a broker like mortgage choice, or go to your bank where you have accounts now, as your current bank can lend a bit more to those who are current customers.
GL - hope you get a place soon!!
Single mum buying first home?
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