Getting your home loan deposit – Loans for first time buyers

Getting your home loan deposit – Loans for first time buyers

Starting out on the home buying journey is exciting, but it can also be a bit daunting. Here are some tips for getting a deposit together for your home.

Start saving a regular for your home loan deposit

Save a regular amount of your income as you get paid. You can start by setting up an automatic payment to transfer money from your transaction account to your savings every pay day.

A good savings history could help when applying for a home loan. Establishing a budget, and sticking to it, may also help you to save regularly and figure out what level of home loan repayment you are comfortable with.

Choose a savings account

Once you’ve worked out how much you can afford to save and what your savings goal is, the next step is to determine the best savings account to help you achieve your goal.

Tips to help boost your savings

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