Home Loan

  Home loan is not only about the interest rate you’re paying or about to pay. It’s also important to look at other features to make it affordable and save money. Redraw and Offset are among the popular features and almost work similar ways. The idea is to allow you to reduce the balance of your home loans. Therefore the interest charged, by applying extra money to your debt.   Redraw: With the redraw option, you can deposit some extra[...]

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  Is refinance only about to get a lower interest rate? For many, the answer is yes. But others may take refinance as an opportunity to meet other funding requirements. Refinance your home is a major decision. It not only involves finances but also needs to meet your objective. Improving your living standard or adding substantial value to your property are some of the examples of renovation goal. Refinancing your existing home loan is a very helpful strategy to fund[...]

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First home buyers

Being the first home buyers or a seasoned one, home loan is the most common trend among the property buyers. A growing number of Australians are looking for home loan as first home buyers. It may be daunting for many to understand the entire process especially for the first home buyers. Interest rate (fixed or variable), pre-approval, settlement, stamp duty, conveyancing are the most popular and used terms in the entire process to finance your dream home. So here is[...]

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Refinance Home Loan

Refinance is a most popular buzz word among the borrowers particularly for those hold mortgages. The reason of refinancing may vary from borrower to borrower. However, majority aim is to trim down the interest rate. At this period of historic low cash rate set by RBA, many lenders are coming up with enchanting home loan products.  So, refinancing your mortgage may favourable. However, it requires a precise comparison between your existing loan and the offered. Following factors will help before[...]

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Cheapest rates

Getting the cheapest rates are the biggest challenge for home loan borrowers. According to Reserve Bank of Australia (RBA), the ratio of household debt to disposable income was recorded at 193.7% at the end of June’17. It also says that the most household debts were housing related. So home loan or mortgage is the biggest debt component on most of the Australian’s financials. And a low interest rate may slash down hundred of dollars from liabilities. However, for many, the[...]

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Why mortgage broker Australia

In many cases, people who look for a loan or refinance come across one of the difficult questions – “should I go for mortgage brokers Australia or bank loan officer?”  It is more evident among the new home buyers. Especially who are unaware of the difference between a Mortgage Broker Australia and a Bank Loan Officer. So let’s put it here in simple words! Loan officers are typically employees of the lending institution. They may be able to offer various[...]

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business loan checklist

  Business loan checklist is an important step before applying for a business loan application. Business loans are quite different and complex in nature.  In contrast, home loans or mortgage loan applications are fairly common. One of the main reason of such uniqueness is its financial complexity and detailed paperwork. A checklist can guide you throughout the preparation and application process. Therefore, if you are thinking to apply for a business loan here is a quick business loan checklist. It will help[...]

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  Lender’s Mortgage Insurance (also known as LMI), is associated with a loan that the lender consider to carry high risk. When a loan is worth more than 80 percent of a property’s purchase price, a lender may need an insurance to hedge the higher risk. The one-off insurance payment will protect the lender in the event when the borrower can’t afford to keep up their home loan repayments. In most of the LMI policies, a lender can make a[...]

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