Mini Deposit Home Loans - Townsville 67-75 Denham Street, Townsville City, Queensland 4810

Welcome to Mini Deposit Home Loans - Townsville! Located at 67-75 Denham Street in Townsville City, our institution is a finance establishment that offers a unique solution for homebuyers looking to save on rent and lenders mortgage insurance.

In partnership with Network HQ, we have developed the MINI D Loan, a groundbreaking strategy that allows you to combine borrowing your deposit shortfall with a traditional home loan. This innovative approach reduces the need for traditional options like Parental Guarantee, Family Pledge, or Lenders Mortgage Insurance (LMI).

With the MINI D Loan, you can purchase a property without the challenges and lengthy process of saving for a full deposit and purchase costs. This loan is particularly suitable for borrowers with a small deposit or those who qualify as "First Home Owners" and are eager to move into their own home as soon as possible.

One of the main obstacles many people face when buying a home is the requirement from traditional banks to provide a 20% deposit plus purchase costs. If this amount cannot be achieved, the alternative is often paying high premiums for Lenders Mortgage Insurance (LMI). However, our MINI D Loan option can help you raise your home loan deposit sooner, saving you thousands of dollars in the long run and giving you more negotiating power with lenders.

Having a larger deposit not only reduces excessive LMI costs but also provides flexibility when it comes to refinancing or transferring your home loan in the future. The benefits of a MINI D Loan are numerous, including the ability to borrow the shortfall amount between your savings and the required deposit for your new home.

Once you are accepted for a MINI D Loan, you will be presented with a range of loan offers, including different loan amounts, terms, and interest rates. You can then choose the loan options that best suit your individual needs. While you make your selections, our team will handle your home loan applications, allowing you to focus on packing and preparing to move into your new home.

Please note that the minimum household income required may vary depending on property prices in your preferred area and your current debts.

At Mini Deposit Home Loans - Townsville, we are dedicated to helping you achieve your dream of homeownership while saving you money and streamlining the process. Contact us today to learn more about our MINI D Loan and how it can benefit you.