Home loan with Redraw or Offset- which one select to save money?
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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Why refinance to renovate your home
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’ guide- Home loan Australia
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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10 things to consider before you refinance home loans
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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How to get home loan with 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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Mortgage Brokers Australia vs Bank Loan Officer
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 – an essential pathway for your business loan!
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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How to Avoid LMI for Your Home Loan or Mortgage
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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Factors to Consider in Home Loan Approval Process
Pursuing your dream of an own home is quite achievable. But the right amount of finances is the pre-requisite. Therefore, home loans are likely the best option for many home buyers. But the loan process can be daunting if you haven’t a clear knowledge about it. Often the hopeful borrowers are worried about the final verdict of home loan. Some may even ponder upon the time to know the result. The success of home loan application depends on how the […]
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Commerical loan – choosing the right one for your business
From Start-up to big enterprises’, a commercial loan helps to gain the financial assistance. A business can get both unsecured or secured commercial loans. Various forms of security including residential, commercial property, business assets, or a combination of these. Events like paying off for expansions or day-to-day expenses or just to manage liquidity are named a few when a commercial loan can be used. A numerous number of loan products are widely available in the market. So, depending on the size and […]
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