Mortgage Broker Penrith | Home Loans Penrith

Looking to purchase a property in Penrith?

Penrith offers a perfect array of facilities: a sports stadium, shopping centres, a museum and a performing arts complex, plus a national park. No matter what type of property you're looking for, Penrith has them all. Low-maintenance apartments, a house with views, a fixer-upper and so much more. The median property prices over the last year ranged from $760,000 for houses to $485,000 for units.

If you're ready to purchase a property in Penrith, then get in touch with Des McDaid to discuss your borrowing capacity.

Pre-approval home loans Penrith

While it’s not compulsory, a pre-approval gives you an indication of your borrowing power, so you know which properties are within your price range. It also lets sellers know you’re a serious buyer, especially if you’re buying at an auction. A pre-approved loan will give you:

A clear spending limit, so you’ll know how much you can borrow.
Extra negotiating power. This tells vendors you’re a serious buyer and in a position to act quickly.
Confidence to bid at auction.

Home Loan Myth

A lot of people hold off taking out a home loan because they think they need a 20% deposit when this is not the case.

Some lenders allow you to borrow up to 95% of the value of a property, meaning you only have to pay a 5% deposit. Also, if you are eligible for the First Home Loan Deposit scheme, an additional 10,000 places have been allocated for first-home buyers to secure their purchase with a 5% deposit.

If you would like to discuss your borrowing capacity, feel free to get in touch with our team this week.