Your Zuu Money Finance Specialist is available to guide you through your lending options based on your individual needs. We can assess what income documents you have available and provide you with specialist advice on the best way to proceed. There are hundreds of different home loans available, so talk to us today about the right solution for you.

A minimum 5% deposit is usually acceptable for a full doc loan however you can expect a minimum 20% deposit for a low doc loan. You may be able to borrow against the equity in your existing home or an investment property.

There are many different types of loan products with varying interests which will impact your repayment amount. Talk to us today about the products currently available that suit your lending needs, and we’ll calculate the repayments for you.

Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan.

There are a number of fees and costs involved when buying a property. To help avoid any surprises, the list below sets out many of the usual costs:

> Stamp duty — If purchasing this is the big one. All other costs are relatively small by comparison. Stamp duty rates vary between state and territory governments and also depend on the value of the property you buy. You may also have to pay stamp duty on the mortgage itself.

> Legal/conveyancing fees — If purchasing generally around $1,250 – $2000, these fees cover all the legal requirements around your property purchase, including title searches.

> Building inspection — This should be carried out by a qualified expert, such as a building inspector, before you purchase the property. Your Contract of Sale should be subject to the building inspection, so if there are any structural problems you have the option to withdraw from the purchase without any significant financial penalties. A building inspection and report can cost up to $1,000, depending on the size of the property.

> Pest inspection — Also to be carried out before purchase to ensure the property is free of problems, such as white ants. Your Contract of Sale should be subject to the pest inspection, so if any unwanted crawlies are found you may have the option to withdraw from the purchase without any significant financial penalties. Allow up to $800 depending on the size of the property.

> Lender costs — Most lenders charge establishment fees to help cover the costs of their own valuation as well as administration fees. We will let you know what your lender charges but allow about $200 to $1500.

> Moving costs — Don’t forget to factor in the cost of a removalist if you plan on using one.

> Mortgage Insurance costs — If you borrow more than 80% of the purchase price of the property, you may also need to pay Lender Mortgage Insurance. Some lenders may charge additional risk fees for low doc loans.

> Ongoing costs — You will need to include council and water rates along with regular loan repayments. It is important to also consider building insurance and contents insurance. Your lender will likely require a minimum sum insured for the building to cover the loan.