We are a Large Family looking for a house with at least 4 bedrooms… South East suburbs of Melbourne… We currently have a dposit of $10,000, but may have more than that in next few weeks..
Any information of were we can look to find a home, would be greatly appreciated..
Rachael
You could advertise that you want to rent-to-buy a home or ask the vendor to leave some money in for you. I don't know Melbourne, but a general advert in a local free? trader magazine type publication might yield you something.
Good luck,
VickyThanx for the reply…Might look into that further…Appreciate the reply..
Rachael
Racheal Do you qualify for the First Home Owners Grant ?
Richard Taylor | Australia's leading private lender
yes we qualify but my partner has a bad credit history…Therefore we need to pursue other avenues to obtain a home loan..
No its ok you will still receive the FHOG even if you buy the property on Vendor Finance.
Only thing you are likely to pay probably another 20% mark up over and above the purchase price and 1-5 – 2% more than the standard variable rate of interest.
If you now the sort of purchase price you are looking for I can give you some indication on the repayments.
Richard Taylor | Australia's leading private lender
Thanks heaps Richard for the advice. We are looking at a purchase price of about $400,000. We have been quoted weekly repayments at $595 on a house at this price. At the moment the vendour is a little unsure about our application because of a rental dispute. We have been in the same rental property for 5 years, and had nothing but praise from the real estate, yet now they are branding us as bad tenants.
Just wondering if you do business in Melbourne at all???Thanks again for the help. We are new to this all and it all can be a little daunting.
Rachael
no advertising here??
Hi Rachel,
I have something that you might be interested. let me know if you still interested. I will forward you the details and we'll go from there.
just beware of spruikerssssss
Hi globalguru we are in that area – would be interested in hearing more: [email protected]
why not ask the poster of the posting link below
https://www.propertyinvesting.com/forums/property-investing/general-property/4327351if they can help you with vendor finance
you never know unless you ask.You may be able to get a low doc type loan from a non bank at a higher interest rate and then convert it later to a normal loan when the credit rating is better.
Do a google search on the search term of
non conforming home loan.blairach,
Are you still looking for a house on a vendor finance deal? If so, please email me to discuss further.
Mccoz
Hi Rachael
I have a 5 bedroom home in Cranbourne that is available on vendor finance. The repayments are $477 for the first 12 months and then $577 after that. Give me a call on 0413 608 388 if your interested.
Tim Hart
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