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I am a first home buyer

Whether you're renting or living with the folks, the prospect of buying your very own home is as exciting as it is daunting. The mortgage market is one of the most confusing markets in Australia today.

Use this checklist to see if you may qualify for a MyRate loan:
I am at least 18 years of age.
I am an Australian resident or permanent resident.
I am looking to buy a property located in Australia.
I have at least 10% of price of the property to put towards a deposit.
Eg. If you're thinking of buying a property worth $350 000, you need at least $35 000 to put forward as a deposit.
Of the 10% deposit, I have genuinely saved at least 5%.
Eg. from the $35 000 (10% deposit), you must be able to show you have saved up $17 500 (5% of the property price) over 3 or more months.
I have a steady employment history, and am not currently in a probation period at work.

If you have ticked all the items above, you may be eligible for a MyRate home loan. Enquire Now to speak to a MyRate consultant or complete our online pre-approval to calculate how much you can borrow.

MyRate can provide First Home Buyers with:

A great product

  • one of the lowest interest rates in Australia
  • a range of great products and great features (eg. free unlimited redraws)
  • no fees on standard applications*
  • a 5 day approval guarantee


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how much can i borrow
MyRate Update
Thursday 8th January 2015

Borrow up to 97%?

MyRate can offer a 97% LVR on purchases including capitalised LMI. Available at 5.17% variable and comparison rate.

Enquire now to find out more.

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