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The First Home Loan, LEM's and LEP's, Valuations, Servicing requirements & the factors that influence agreements

My Mortgage Podcast - Season 1 - Episode 3

In this episode, we cover what you need to know if you’ve got less than a 20% deposit for your home loan. Including:

  • The criteria for the First Home Loan.

  • Some of the general principles and policies around ‘over 80% lending’.

  • The meaning of low equity margins and premiums, the difference between them, and how much should you expect to pay.

  • Registered valuations, how they work, and what it means for how much the bank will loan you.

  • How servicing requirements change depending on your deposit amount, including how other factors like boarders and debt are taken into consideration if you have less than a 20% deposit.

  • We dive a bit deeper into how debt, including student loans, Afterpay, and credit cards, will affect your home loan.

Find Podcast here


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