Wednesday 23rd February 2011
Local home buyers will now benefit greatly from the associations of Tropical Homes in the financial lending industry, bringing people closer to their dream of home ownership
For many people who dream of home ownership, obtaining a home loan has been excruciatingly difficult over the past 12 months, making it almost impossible to enter the property market – and this hasn’t stopped at new home buyers, it has extended to second and third home buyers and even investors in many circumstances.
But that’s about to change, with a recent release of relaxed lending criteria. In particular, two of Tropical Home’s associates’ lenders have relaxed their genuine savings requirements and are now prepared to consider all loan proposals where the deposit funds are sourced from genuine sources, although have not been held for 6 months.
For example, a first home buyer who is looking to purchase a new home at $350k would need a $18,000 deposit in total. The FHOG consisting of $7,000 plus the Government Boost of $10,000 client’s savings of say $3,000, or with the sale of a motorbike of $2,000 or a tax return of $2,000, under two of our associates’ lenders this would now be approved with a strong credit score. Similar equations also calculate out for second and third home buyers, and for investors.
Another lender, although firm on the 5% genuine savings deposit will now consider short term employment, applicants on probation and casual employees.
And it doesn’t stop at the finance. Due to the enviable size of Tropical Homes they not only have access to assist you with obtaining finance approval for your new home, they also have a great range of homes that are already built and ready for immediate occupancy, pending your finance approval; you could be living in your brand new home in just 3 weeks time.
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We're more than happy to assist in any way we can - especially if it means helping you move into your brand new home sooner. You can contact us here.