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Deferred Deposit Home Loan
Suitable for applicants with an income but not the full cash-deposit.
Eligibility to secure a Low Deposit Home Loan is based on the applicants annual income and outgoings including payments under the Deferred Deposit Agreement (DDA).
Together with an AffordAssist accredited mortgage broker, AffordAssist may provide approval for a Deferred Deposit Home Loan within a few days.
Deferred Deposit Property Sale
AffordAssist deferred deposit solution is a community centric approach. Helping Our Next Generation.
Buy a property from willing property seller with an initial part-deposit, defer and pay the balance of the deposit without interest. Think of, ‘pay it forward’.
Applicable on established, brand new and off-the-plan.
AffordAssist offers optional services:
1) A buyer’s agency service to help buy an established property almost anywhere in Australia.
2) Showcases properties advertised by developers and real estate agents available to purchase with AffordAssist.
100% Title Ownership
Once a property is selected, approval from AffordAssist is confirmed and a 1st mortgage loan approval is obtained, you can then proceed to settlement.
At settlement you become the proprietor of the property.
Pay the deferred amount ‘Periodically’ within 60 months
AffordAssist
Intending Purchasers apply to AffordAssist for a “Deferred Deposit Agreement” (DDA).
The DDA is an arrangement where purchasers typically pay 10% of the purchase price over 60 equal monthly payments, without interest.
Think of, tap into the equity of property sellers willing to ‘pay it forward’.
This is achieved via an AffordAssist DDA with a willing property vendor whereby they typically defer receipt of 10% of the purchase price over a 5-year term, again without the vendor receiving any interest.
AffordAssist industry leading governance provides a proven system for managing risk, the Deferred Deposit Agreement (DDA), Settlements and the DDA payments. Thus protecting all the stakeholders.
