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Uncover the Options for Buying a Home Without a Full 20% Deposit
- 2024/11/05
- 再生時間： 49 分
- ポッドキャスト
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サマリー
あらすじ・解説
Wondering if you can buy a home without a full 20% deposit? You’re not alone. As property prices climb, saving that much can feel impossible, but there are other ways to get your foot in the door sooner. In this episode, we explore the range of options available to first-home buyers who are looking for alternatives to the traditional deposit size. Cara Haynes, a seasoned mortgage broker, joins us to shed light on strategies that could work for different situations. From family guarantees to lenders mortgage insurance (LMI), and even some government schemes—there’s more out there than you might think. These aren’t one-size-fits-all solutions, but they might be worth considering depending on your circumstances. We break down the potential benefits and trade-offs of these paths without making it complicated. Cara shares real-world examples and tips, giving you insights that could help you make sense of your options with more confidence. You’ll also hear about some banks offering perks like waived LMI for certain professions—a game changer for those eligible. This episode is packed with eye-opening details, designed to help you explore what could work for you. It’s not about quick fixes, but about understanding the landscape and weighing up what’s right for your home-buying journey. Episode Highlights: 00:00 - Introduction 02:33 - Who is Cara Haynes? 05:56 - Why banks typically require a 20% deposit from home buyers 10:32 - Key factors financiers consider when assessing a client's borrowing potential 12:42 - How can high earners prove their loan eligibility without sufficient savings? 13:48 - What alternatives exist for high-income buyers with insufficient savings? 17:37 - Bank of mum and dad 20:37 - Shared equity schemes 29:51 - Lender’s mortgage insurance 35:45 - Is pre-approval necessary? 37:31 - What do first home buyers need to know about pre-approval when buying at auction? 42:17 - Key takeaways from the conversation 44:45 - What Cara wishes she knew as a first home buyer About Our Guest: Cara Haynes is a seasoned mortgage broker at Loan Market, based in Northgate, Queensland. With over a decade of experience, Cara transitioned into mortgage broking from a background in legal administration and marketing, bringing a unique perspective to her role. Known for her clear communication and dedication to helping clients navigate the property market, she frequently receives high praise from clients for her professionalism and attentiveness. Her approach focuses on offering customized support, making her a popular choice for first-time home buyers and investors alike. Connect with Cara Haynes: Facebook https://www.facebook.com/CaraHaynesAtLoanMarket/ LinkedIn https://www.linkedin.com/in/cara-haynes-b59b1737/ Instagram https://www.instagram.com/carahaynes_loanmarket/ Website https://www.loanmarket.com.au/ Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers Visit our website https://www.homebuyeracademy.com.au/ Join our Facebook Group to get access to free monthly live Q&A sessions https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/ Work with Meighan: https://www.linkedin.com/in/meighanwells/ If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825 Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f See omnystudio.com/listener for privacy information.