RateCity found increase in home loans requiring smaller deposits for bigger home loans. Borrowing capacities can range by almost $1M with the same $40K deposit. First home buyers warned of the dangers with a low deposit home loan.
watch out for low deposit home loans this mortgage season!
Borrowing cheaper but now more difficult
Home loan rates continue to drive lower in September with more than 220 rate cuts made in the past week, despite today’s RBA decision to leave interest rates on hold at 1.50 per cent.
Singles priced out of the property market Australia wide
Only two of Australia’s eight capital cities have a median house price that can be afforded by an average single income, new analysis by Australia’s leading financial comparison website, RateCity.com.au, shows.
Cash rate holds at 1.5%, yet mortgage stress on the rise
The RBA has left the cash rate on hold at the historical low of 1.5 per cent today. Yet, new research shows that the financial pressures of paying off a home loan are increasing.
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.