Single parent home loans in Bendigo, VIC

Single Parent Support

Home loans for single parents in Bendigo

Bendigo, VIC offers family-friendly amenities and a supportive community, making it a popular choice for single parents looking for stability and access to schools, parks, and services.

Ding Financial is a mortgage broking business. We compare home loans from a wide panel of lenders so you can see multiple options in one place. If you're a single parent considering buying or refinancing in Bendigo, we can help you understand your options and find a loan that fits your situation.

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Home loan options for single parents

As a single parent in Bendigo, you have several pathways to homeownership or refinancing.

Income considerations

Lenders can assess various income sources including employment, child support, family tax benefits, and Centrelink payments. We help you present your full financial picture to lenders who understand single parent situations.

Deposit options

Whether you have 5%, 10%, or 20% deposit, we can explore options with lenders who work with single parents. Some lenders offer flexible LMI terms or lower deposit requirements.

Family guarantees

If a family member can act as guarantor, you may be able to buy sooner or with a smaller deposit. We\'ll explain how guarantees work and whether this option suits your situation.

Refinancing for single parents

If you\'re already a homeowner, refinancing can help you lower your repayments, access equity for home improvements, or restructure your loan to better fit your current situation.

Your home loan journey

We guide you through each step, from understanding your options to settlement.

Free Consultation

Discuss your situation, income sources, and goals with your broker.

Assess Options

We compare lenders and loan products that suit single parent applications.

Submit Application

We help you gather documents and submit a strong application.

Settlement

We guide you through approval and settlement into your new home.

Why single parents choose Ding Financial

Understanding brokers

We understand single parent finances and can help you explore home loan options that fit your unique situation.

Wide lender panel

Access to 30+ lenders means we can find options from lenders who understand single parent applications.

Not owned by a bank

We're privately owned and work for you, not a banking group.

Single parent home loan FAQs

Can single parents get home loans?

Yes. Many single parents successfully obtain home loans. Lenders assess your income (including child support, Centrelink, and employment income), expenses, and deposit. We work with lenders who understand single parent applications and can help you present your finances in the best light.

What income sources can be used?

Lenders can consider employment income, child support, family tax benefits, Centrelink payments (such as parenting payment), and rental income. Each lender has different policies, so we compare options to find lenders who accept your income sources.

How much deposit do I need?

Deposit requirements vary by lender and your situation. Some single parents buy with 5-10% deposit (with LMI), while others aim for 20% to avoid LMI. We can explore options based on your savings and help you understand the trade-offs.

Can I use a family guarantee?

Yes, if a family member can act as guarantor using their property as security, you may be able to buy with a smaller deposit or no LMI. We'll explain how guarantees work and help you decide if this option suits your situation.

Will child support count as income?

Many lenders accept child support as income, usually requiring 3-6 months of consistent payment history. We work with lenders who consider child support and can help you provide the right documentation.

What if I receive Centrelink payments?

Some lenders accept Centrelink payments (such as parenting payment or family tax benefits) as part of your income assessment. We'll connect you with lenders who have policies that suit your situation.