Will Open Market HomeBuy – 25% government and lender equity loan be more expensive than other mortgage products?
The Mortgage Lenders may charge a small premium on the interest rate of a standard mortgage but they will be competing for your custom and market forces will determine their rates. It should be comparable to or cheaper than other low cost home ownership products, or purchasing a property on the open market without assistance. Open Market HomeBuy – 25% government and lender equity loan is intended to help those who are unable to purchase without assistance. If you can afford to purchase a property without Open Market HomeBuy – 25% government and lender equity loan, then you should do so.
Related Questions
- How should we report an Open Market HomeBuy scheme, where the loan consists of both a conventional mortgage loan and an equity loan?
- How much will I get if I purchase through Open Market HomeBuy – 25% government and lender equity loan?
- How does Open Market HomeBuy – 25% government and lender equity loan Work?
