Case Study

Case Study

How Sucasa Changes Lives

Sucasa supports deposit-constrained Australian's who've been forced to choose between expensive LMI, or being locked out of the property market entirely.

We give young Australian families a fairer option for low deposit home loans, no LMI, no catch.

Meet Pete...

...and Nicole

*This is an example situation and is used for demonstration purposes only.

They’re recently married, in their early 30s with great jobs and a combined household income of...

...$250,000

They pay $1,000 a week in rent, and have $4,000 of other expenses a month.

This means they’re able to save roughly $6,850 a month after rent

They’ve been saving for 12 months and have $90,000 in savings.

Their goal is to buy an apartment, like the one they rent, a 2 bedroom in Sydney that costs

~$1,200,000

To do this with a 95% LVR LMI loan, they would need $160,000 in upfront deposit. That means saving an additional $75,000 which would take them 11 months* based on their current monthly savings of $6,850 a month

* This assumes no change in their circumstances - and as we all know, circumstances change!

It’s worth noting that this estimate assumes house prices don’t grow while Pete and Nicole are saving. If house prices grow at 7% p.a.* they would actually need to save $180,000, a further $20,000, taking their total time to save up to 14 months in order to buy the same house that is now cost $1,291,000

* This assumes no change in their circumstances - and as we all know, circumstances change!

If they’d used Sucasa they would have been able to buy that home today. They could choose to contribute the full $90,000 or as little as $60,000 and keep the additional $30,000 for a rainy day.

Assuming they choose to contribute $90,000

Their mortgage repayments would be* $7,850 leaving them with $3,000 a month in savings.

* This assumes no change in their circumstances - and as we all know, circumstances change!

If they use that additional savings to pay down their Sucasa Accelerator Loan faster, they’ll pay off the Accelerator Loan in 36 months.

However, if the house price grows at 7%p.a. Then they may be eligible to refinance to an 80% LVR loan in
20 months

See how much you can borrow (and save) with Sucasa.

Estimate Your Borrowing Capacity

Sucasa Loans Pty Ltd ACN 106 968 370 Australian Credit Licence 443249. Australian Financial Complaints Association (AFCA) 93243. Copyright Sucasa Finance Pty Ltd.‍

**Comparison rates: All comparison rate examples shown are for a loan amount of $150k and a term of 25 years at a 98% LVR. WARNING: Sucasa’s rates currently vary based on the value of a property. Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. The actual rate offered may be higher or lower than the comparison example above‍.

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. You must consider whether a Sucasa Loan is appropriate for your circumstances and needs. If necessary, seek your own professional advice. Credit criteria, fees, charges, terms and conditions apply. Information correct as at 30th November 2023.