At a very high level I think based on what your income is you would be pretty close to borrowing the amount you are after. While your deposit is a little light on because you will need to account for fees and charges there are low deposit options in the market. A guarantee could potentially be the way to go but will need to provide additional information to a broker so they can assess your situation.
Hi Jodie, if you are first home buyers you may be eligible for the first home buyers grant of $20000 which will assist in boosting your purchase price , check out. https://****itia****gov.au/ also with 2 dependants are you receiving any family payments and what would be the monthly commitment on your personal loan? Kind Regards Nikki
Thank you Jodie, for your question. Most lenders require 5% of the purchase price plus costs. In addition, they need to know if there are any dependent children and any other debts as this will impact on your serviceability. My recommendation is to speak with your local finance broker or perhaps a close friend can refer you to their broker. If you are in WA, please contact me via my profile link. Regards Andrew at Handle Wealth Management.
Jodie, I assume by your question that you are a first home buyer. There are incentives in a number of states in Australia that provide concessional stamp duty and also cash rebates to help first home buyers enter the market. I am happy to help further will will need aditional information. Kind regards Nick
Without divulging too much information,do you have any children and do you have an income? My number is 04****45 and I am free for a conversation if you would like to call me.
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Steven
Hi Jodie to purchase a house and land without knowing the price of the land the amount of savings you have as well as the Grant for first home owners you would have enough to cover the funds to purchase. Without having all your details I can't say if you would get the loan. Just make sure that the house and land package is a full turn key package. The reason I say this is that if the package doesn't include Fencing, driveway, stormwater, flooring etc. you will need to get actual quotes from companies for the bank to approve the loan for a completed house.