When you want to invest in real estate, you should save up for the deposit. After all, every lender will ask you for a down payment before they can approve your mortgage application. The deposit is usually anything from 5% to 20% depending on your choice of lender. To get the best mortgages Melbourne residents should consult local mortgage brokers. This is because they have better knowledge of the industry than the average person.
The ideal broker should help you find a low interest mortgage that is large enough to meet your home or commercial property acquisition needs. You will also need to check the repayment period before committing yourself because the longer the repayment period, the more affordable your home will be. After all, the monthly installments you will be required to pay will be much lower and much more affordable.