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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? 

LVR stands for Loan to Value Ratio. This is calculated as the amount you want to borrow as a percentage of the value of the property you buy, or that will be used as security.

For example, if you borrow $540,000 to buy a property valued at $600,000, your LVR would be 90%.

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 can seem daunting, but our home loan specialists make it easy and will walk you through the process. 

We’ll ask for information about your income, your expenses and any assets that you own. We also need to know about any other loans, credit cards or other debts (e.g. pay day lenders) you may have. 

Our handy how to apply for a home loan guide can make things easier.

Get the ball rolling by calling 13 25 77 to speak with a  with a home loan specialist today.

Request an appointment online