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If you’re looking to buy your very first home, with P&N Bank you can borrow up to a loan to value ratio (LVR) of 95%. 

As a general guide you'll need a minimum 5% deposit plus your settlement fees and Lenders Mortgage Insurance (LMI) fees. LMI fees will apply if you don’t have a 20% deposit plus settlement fees.

You may qualify to take out (LMI) for deposits less than 20% of the property value. 

Get tips for saving for a home deposit? 

Your loan-to-value ratio (LVR) is the loan amount divided by the value of the property you’re buying or refinancing as determined by the bank, shown as a percentage.

For example, if you're borrowing $640,000 to buy a property worth $800,000, your LVR would be 80%.

Depending on your application, we can provide loan approval in as little as 24-48 hours, and are doing so for many of our customers. For more complex applications, unconditional finance approval or where a valuation of your property is required, it can take between five and seven days to process all the documentation.

Applying for a home loan doesn't have to be complicated. Our home loan specialists will walk you through the process and let you know exactly what information is needed. 

We'll typically ask for details about: 

• Your income and employment details 
• Your living arrangements, monthly expenses and other regular commitments 
• Assets you own, such as savings, vehicles, investments, or property 
• Any existing loans, credit cards, or other debts 

You may also need to provide supporting documents as part of your application. 

For more information, read our how to apply for a home loan guide.