By Shane | Uncategorized
A third-party to a home loan is called a guarantor, which helps you get a loan by offering additional security support. Generally, guarantors are limited to spouses or immediate family members. A home loan guarantor can be your helping hand to buying your dream home. Many lenders will allow you to obtain a home loan given that your spouse or family member will help you buy by providing additional security support.Continue reading
By Shane | Uncategorized
Refinancing refers to the process of paying out your current home loan, either with your existing lender or through a different lender. You can get a lower interest rate and reduce your monthly repayments or you could fix your rate for certain period and have the security of fixed monthly repayments. If you would like to refinance your loan, below is a step-by-step guide.Continue reading
By Shane | Uncategorized
Are you looking to save money by reducing the balance of your home loan? A redraw facility is a useful tool that could help you pay off your mortgage sooner if used wisely. A redraw facility is offered by a large percentage of home loans– so how does it work, and how can it help save you money? Continue reading
By Shane | Uncategorized
On the first Tuesday of every month (except January) the Reserve Bank of Australia meet to make a decision on the cash rate. Depending on the economic conditions, the RBA may increase, decrease or leave the cash rate unchanged. Changes to the cash rate will affect the interest rate that banks and lenders will offer to borrowers.Continue reading
By Shane | Uncategorized
Refinancing your home loan can help you achieve important goals. It can be a great way to access home equity to invest in other areas such as investment property, shares, or managed funds. Refinancing can offer you the chance to take advantage of more flexible features if your circumstances have changed, or if you’ve had your home loan for a few years.Continue reading
By Shane | Uncategorized
Do you think that refinancing is too hard? Have you checked your mortgage recently? Whether you’re looking to lower your monthly repayments, restructure your loan or access more flexible options, refinancing may be a viable option.
With the general perception being that it’s complicated, expensive, and best left in the too-hard basket, there are many myths surrounding refinancing and here are three common myths about refinancing that you need to be aware of.Continue reading
By Shane | Uncategorized
So, you’re buying your dream home. First and foremost, that’s a great decision. It’s a smart investment; it’s a long term investment; and at the end of the day, for most people owning is better than renting. So, you’ve made a decision and it now comes down to the pre-approval process.
Pre-approval is a very important and critical step. It’s important to do that and make that the first step, prior to looking at any homes. Pre-approval is a critical step because what pre-approval allows you to do is to determine if you’re able to buy. It’s essentially important to get pre-approved before you begin looking for your dream home. Confused about pre-approvals? There are a few things to understand and get in order. You may follow these three steps to ensure that you get the home loan that’s right for you.Continue reading
By Shane | Uncategorized
On the first Tuesday of every month (except January) the Reserve Bank of Australia meet to make a decision on the cash rate. Depending on the economic conditions, the RBA may increase, decrease or leave the cash rate unchanged. Changes to the cash rate will affect the interest rate that banks and lenders will offer to borrowers.Continue reading
By Shane | Uncategorized
People sometimes use the terms investing in property and buying a home interchangeably. How is investing in property different from buying a home?Continue reading
By Shane | Uncategorized
It’s always important to get a good loan and it’s particularly a big deal for first time home buyers. First time home buyers are often just getting on their feet financially. So, how do you make sure that you’re ready for your first home loan?
There are five questions to help you find out. These are questions that will determine when you should venture into home ownership. If you can’t answer yes to each of these questions, you’re definitely not yet ready for your first home loan.Continue reading