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April 25, 2006
Higher Down Payment, Lower Requirements
A word on mortgage insurance from the Commonwealth.
Whilst I was there I got talking to the mortgage consultant. Seems that in this country there are 100% no deposit mortgages, though the interest rate is higher for these. For a 5% deposit, the interest rate is reduced or for the best interest rate, a 10% deposit. Beats Australia where its 10% minimum and you still have to pay for someone elses risk i.e. mortgage insurance.
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Posted on April 25, 2006 09:42 AM by mortga184.
Filed in Mortgage Calculator under mortgage insurance.
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