Not all banks are created equal. There can be a distinct difference between banking with a big four behemoth like CommBank compared to, say, an online-only non-bank lender, or a not-for-profit community bank in a surfing village.
Most people dream of buying their own home one day on a big block of land. But as property prices and the demand for inner-city housing rise, more people are choosing the apartment life, which raises the question: is it harder to get a mortgage for an apartment than a house?
Gone are the days of carelessly stamping home loan application forms without the forensic scrutiny of expenses. Now, banks want to know exactly what you’re spending your money on – right down to your daily morning latte.
Buying a property without a chunky deposit could see you whacked with the oft-dreaded cost of lenders mortgage insurance. But in a different sense, the time it takes to save up the deposit could also cost you.
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