Your Pathway to Buying Your First Home: Equity & LVR Demystified!

Your Pathway to Buying Your First Home: Equity & LVR Demystified! Are you ready to take the exciting step toward buying your first home? Understanding some of the common banking terms can make all the difference! In this newsletter, we’ll break down two key terms that often come up when you’re applying for a mortgage: Equity and LVR (Loan-to-Value Ratio). 💡 What is Equity? Equity is simply how much of your home you truly own. Example: Purchase Price: $500,000 Deposit: $100,000 That means you...