The most common type of loan for first home buyers buying a property is a 90% home loan. Lenders are less conservative with this type of home loan because there is some equity in the property right from the beginning. You will still have to meet normal credit guidelines & serviceability requirements to get your loan approved. A selection of lenders still offer loans for 90% of the purchase price, otherwise known as a 90% Loan to Valuation Ratio (LVR) loan. Borrowing a high percentage of the purchase price isn’t easy, lenders are far more conservative when assessing your loan application.
So how do you get approved for a 90% home loan? And which lender has the cheapest rates and fees?
This is also a relatively difficult home loan to get approved and a Trusted Mortgage Broker will be able to help you.
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