FAQs

May 9, 2016 @ 3:54 AM | Category:FAQs | Tags: No tags

Reasons for borrowing • Purchasing a home to live in • Purchasing an investment property • Consolidating debt • Building a new home • Renovating or extending your home • Holidays • Buying a new car • Building a granny flat

(Read more ...)
May 9, 2016 @ 3:52 AM | Category:FAQs | Tags: No tags

I want to borrow 95% of the purchase price of the property but the seller requires a 10% deposit. How do I pay the extra 5%? When buying a property, the seller usually requires a 10% deposit upfront or soon after. So what happens when you are borrowing 95% and only have a 5% deposit? […]

(Read more ...)
May 9, 2016 @ 3:51 AM | Category:FAQs | Tags: No tags

How can a mortgage broker help me? As a mortgage broker I can help find the right loan for you. Through our discussions I will ascertain exactly what it is you are looking for. With access to more than 35 lenders and thousands of loans, I can find the right loan at the right price. […]

(Read more ...)
May 9, 2016 @ 3:50 AM | Category:FAQs | Tags: No tags

I am only employed casually. Can I still get a home loan? Many lenders accept income from casual employment as long as it is regular and ongoing for more than 3 months. I have only been in my current job for a short time. Can I still get a home loan? You may still be […]

(Read more ...)
May 9, 2016 @ 3:50 AM | Category:FAQs | Tags: No tags

How much of a deposit will I need to buy an owner occupied property? When purchasing a home to live in you may be able to borrow up to 95% of the purchase price. This would however be subject to Lenders Mortgage Insurance. How much can I borrow for an investment property? When purchasing an […]

(Read more ...)
May 9, 2016 @ 3:47 AM | Category:FAQs | Tags: No tags

How much will I need to provide in genuine savings? For an owner occupied property you will need to provide at least 5% of the purchase price as genuine savings? What can I do if I don’t have genuine savings? Many lenders have other options if you can’t provide the 5% in genuine savings. You […]

(Read more ...)
May 9, 2016 @ 3:46 AM | Category:FAQs | Tags: No tags

What are genuine savings? Genuine savings are required when you are borrowing more than 85% of the purchase price of the property. This means you must show evidence of regular savings over a defined period of at least 3 months. This may also include: A savings pattern (established over a period of 3 months) Term […]

(Read more ...)
April 13, 2016 @ 9:11 AM | Category:FAQs | Tags: No tags

Medical Professionals Did you know that some Medical Professionals such as doctors may be able to borrow up to 90% against the value of the property without needing Lenders Mortgage Insurance? Ask me if you are eligible.

(Read more ...)
April 13, 2016 @ 9:11 AM | Category:FAQs | Tags: No tags

What is home loan equity? Home loan equity is the difference between the value of your property and the amount you owe to the bank. For example if you have a home valued at $500,000 and you owe (or will owe) the bank $100,000, your equity is ($500,000 minus $100,000) which equals $400,000. Knowing your […]

(Read more ...)
April 13, 2016 @ 9:11 AM | Category:FAQs | Tags: No tags

What is Lenders Mortgage Insurance (LMI)? LMI is an insurance policy that a lender may require if your loan to value ratio (LVR) is above 80%. This type of insurance protects the lender, rather than the borrower, in the event that the borrower is unable to make their loan repayments and there is a shortfall […]

(Read more ...)
Call Now Button