Saving for a deposit
If you are buying your first home, you may have a lot of questions, such as how much do you need to get started? Ideally, you want to be able to put down a reasonable deposit of around 20%. P&N Bank does offer to finance up to 95% of the property value (inclusive of Lenders Mortgage Insurance).
Budgeting is not an exciting word, but savings sure look good as they stack up and can help you get approved for a home loan. By getting a clear picture of where you’re spending your money, you can easily see where you can make savings.
For example, by giving up your daily take-away coffee you can save nearly $150 a month (the only upside to Perth coffee prices)!
A budget planner calculator will help you save and buy your first home sooner. Your deposit will grow even faster if you keep it in a high interest savings account — we can help you out with those too.
Try the budget planner calculator