FINANCE YOUR DREAM HOME
Home ownership gives an individual a sense of stability and security. The pride of ownership that comes from having an own home is unparalleled. It is mostly a dream due to the huge costs in buying or constructing an own home.
You strive your entire life to work towards building your Dream Home. Many a time it happens that our accumulated Savings are not enough to meet the initial deposit that is required to secure a Home Loan from the Banks. Should you postpone your dream by a few years and continue spending on your weekly home rentals? Is there an alternative?
Consider that you spend $525 as weekly rentals. This means your average annual spend on rentals would be $27,300 or over a 25-year period $682,500. Now imagine if you keep aside this amount for your initial deposit and your annual EMIs.
Once you have decided to own a house , the first step is to plan your initial deposit. The initial deposit (if you are looking for a mortgage) usually consists of a percentage of the total cost, lawyer fees, insurance and taxes.
At DH we understand the problems that families might face in raising the complete initial deposit. If you have a similar problem, be assured that there is no need to postpone your dreams. We believe that having just 50% or 60% of the Initial Deposit should not become a stumbling block or a barrier towards realising your Dream Home. Our In-House Finance Advisory Team will support and guide you to choose the right Home Loan and give wings to your dreams.
For the most recent updates and information on LVR guidelines please visit https://www.rbnz.govt.nz/faqs/loan-to-value-restrictions-faqs.