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So many people are in a great position to get a home loan right now, they just don't realize it. Most people are too frightened to move forward with their perfectly valid financial plans because of the present economical situation. This is not a good thing, nor is it necessary. Low interest rates are amazing at the moment, so is the fact that house prices have stopped climbing. These two things combined may present people with the best mortgage opportunity you will ever have. Especially if you have some capital available to you or if you are a first home buyer.

So, what are your options in today's market? People keep going on about how dire things are but really the variety of options open to you is vast. Depending on your situation you may want to consider a First Home Owner loan or if that is not for you then a Low Doc home loan may be the answer to your needs. Perhaps you need to learn a little more about those options.

If you live in NSW and you are looking to purchase your first home with Australian home loans then you may be eligible for a first home buyers grant. This should come as extremely welcome news as it has a huge capability to save you cash. The best news about this is that it is not means tested. So long as this is your first ever purchase of a home then you are eligible. There is also no tax on it and it is accessible no matter what price range of house you are looking at. If you are buying an previously recognized home you could receive a increase of up to fourteen thousand dollars. A new build house could get you a cash injection of up to twenty one thousand. There are other first home loan options in other states so make sure you look into them.

If you are not buying your first home and you are self employed then there is a better option for you. It is called the Low Doc home loan. Self employed people and sometimes other types of individuals can sometimes have trouble providing all the documentation that is needed to complete a home loan. Evidence of their income can sometimes prove troublesome for these people. If this sounds like you then a low doc home loan is the option for you. You should be aware that some lenders charge higher interest rates due to risk on these types of loans so you need to check out all your options carefully.

If you are a bit lost as to which of the many options is for you then you need someone with some expertise to fill you in on all the details. DirectMoney Home Loans has all the answers for you because they have been helping people like you for years.