#Refinance
January 30, 2023
Unlocking the equity in your home
3 min
Using the built-up equity in your home is a very powerful way to grow your property portfolio or improve your current home.
November 30, 2022
5 benefits of refinancing
3 min
Refinancing your current home loan is something that you should be considering on a regular basis and there are a number of benefits to doing it.
August 31, 2022
When/how do you refinance
5 Min to Read
Refinancing your current home loan means you’re taking out a new loan to replace your current one. There are a number of advantages to doing this, like giving you more flexibility and saving money.
August 31, 2022
Gift as a deposit
2 Min to Read
For many first home buyers, saving for a home deposit can be tough, which is why you might need a helping hand from your parents. One way to do this is with a gifted deposit home loan.
August 31, 2022
How much can you borrow?
6 Min to Read
When applying for a home loan, lenders typically look at how much you earn and how much you spend to determine your overall borrowing capacity. However, they also assess the type of lender you are and what kind of risk you might present to them.
August 31, 2022
What is Building Insurance?
4 Min to Read
Building insurance is a type of home insurance that covers the building itself, along with the fixtures. Apart from giving you, as the owner, peace of mind and protection, having adequate building insurance in place might be one of the lender’s conditions of approval.
August 31, 2022
Different titles (Strata, Torrens, Family)
7 Min to Read
A property title contains the legal information about a property and includes details about the land and who the legal owner is, along with data on anyone who has a mortgage on it.In Australia, there are a range of different titles that give the owner different rights to the specific property, the house and the land components.
August 31, 2022
Types of Defaults & Bad Credit Loans
7 Min to Read
What is a Default and how does it impact your home loan? How to deal with the situation of bad credit or any bankruptcies? Let's unpack a few of them here.
August 31, 2022
What is a Credit Report and what is a Credit Score?
7 Min to Read
A Credit Report is a summary put together by a credit agency, outlining your track record of paying back money to lenders. You’ll have a credit report if you’ve previously applied for any type of finance or even access to utilities, such as electricity, gas or an internet service.
August 31, 2022
Ways to verify your identity
3 Min to Read
When you apply for a home loan, you will also need to verify your identity.In order to do so, you will need to provide 100 points of ID, which can consist of two primary identification documents, or one primary and one secondary document.
August 31, 2022
Different kinds of incomes: FTP, PTP, Casual, Contractors, Self-employed
8 Min to Read
Lenders are willing to offer finance to people with different types of employment, however, it is important to understand that the requirements vary for each employment type.
August 31, 2022
Government grants - FHOG, FHLDS, Reduced Stamp duty, Const grants
4 Min to Read
There are a range of government grants and exemptions that are available across Australia, which predominately target first-home buyers.
August 31, 2022
Genuine savings
3 Min to Read
When someone applies for a home loan, lenders like to see that the potential borrower has a deposit that stems from genuine savings. Lenders like to see that you have been able to save at least 5% of the purchase price for the property.
August 31, 2022
Family guarantee loans / pledges
3 Min to Read
A family guarantee allows you to purchase a home, by effectively using the equity in another person’s property as a deposit. The main consideration for you if you choose a guarantor loan is that the person providing the guarantee is liable in the event that you are not able to make your loan repayments.
August 31, 2022
What is the assessment rate?
4 Min to Read
When you apply for a home loan, lenders will look at both your income and your expenses when determining how much they are prepared to lend you. When you apply to a lender for a home loan, they will not use the actual interest rate on the home loan to do their serviceability calculations. They use what is called an assessment rate.
August 31, 2022
Home loan process
7 Min to Read
A short summary introduction to the home loan process.
August 31, 2022
What is a rate lock fee? How does it work?
2 Min to Read
A rate lock sets your interest rate, which will prevent the lender from hiking the rate prior to settlement, whilst giving the borrower even more surety at the same time. If interest rates fall, most lenders will still allow you to benefit from the lower rate, which is an added bonus.
August 31, 2022
Offset & Redraw
4 Min to Read
An offset account is just like your normal bank account. It works alongside your loan account. The beauty of an offset account is that it earns interest at a similar rate to your home loan, effectively saving you money. There is also a redraw option and it is a common question to ask: Offset or Redraw, which is best?
August 31, 2022
Fixed vs variable interest rates
5 Min Read
Fixed rates home loans allow your interest rate to be locked in or fixed for a certain period. With a variable interest rate home loan, the interest rate will change if either the bank or the lender adjusts their interest rates, or if we see a change from the RBA. Which one is right for you?
August 31, 2022
Interest only loans
4 Min to Read
With an interest only loan, you are not paying down any of the debt, however, you can significantly reduce your weekly repayments. An interest only loan is a good option for home buyers who need to keep their repayments as low as possible, because of either budget constraints or not wanting to tie up additional money each week.
