How do you save for that elusive deposit? What if we had a plan and provided a clear path to your goal?
Our Finance Partner offers a no savings solution, simple as that! Through our partnership, we have solutions to move you forward on your journey to your brand new home.
HOW IT WORKS?
The Joii Finance Deposit Boost is essentially an upfront
contribution towards the cost of buying your home in the form of a low-interest
secured loan, repayable over a 10-20 year term. This method is designed to help
people (with good borrowing capacities) who otherwise find it difficult to save
for a deposit in the traditional way.
The loan can also incorporate other costs such as stamp duty,
legal fees and other borrowing costs. The repayments and interest accruing
nature of this secured loan are no different to any other loan, therefore
naturally subject to an application process and credit approval. However, the
distinctive difference to other conventional loans is the availability of a
longer term, thus allowing borrowers to achieve home ownership immediately.
WHO CAN QUALIFY?
To be eligible for assistance we typically look for, but are not limited to the following conditions:
be over 18 years or age
consistent employment and income
favourable credit history
currently renting and have a 6 month rental history
be an Australian resident / citizen
currently not a home owner
agree to participate in the Joii Financial Mentoring Program