Your Finance Adviser - Home Loan Expert, Broker in Australia

The buyers of a property, who do not have enough money in hand, have an option of borrowing the money by putting their existing property as a mortgage. The borrower, however, pays an amount as security interest to the lender until the time he manages to repay the loan amount. The mortgage works as a security for the lender of the amount, in case he fails to make the repayments. Under Lender’s Mortgage Insurance or LMI, the borrower of the amount is supposed to make a one-off payment to protect the lender against the event where he; the borrower might fail to make your home loan repayments. The Lender’s  Mortgage Insurance  is designed to protect the lender from the default in repayment by the borrower. Under the LMI policies, a financial institution can make a claim if the borrower defaults on the loan, and the sale of the property doesn’t equal the value of the mortgage. Contradictory to the misconception that there is a benefit to the borrower from LMI, it is the Lender who

If you are planning to buy a new property for yourself, then we have something of interest to you. Borrowing money is not as easy an option as it may seem. It brings along the burden of repayment and its consequences. To get rid of such a burden, you can avail the option of the payment of interest on  home loans in Australia  in advance. Interest in Advance is an option that is available on interest-only Fixed Rate Investment loans. This feature lets you pre-pay the consequent year’s interest on your loan, which can be claimed back as a deduction in this year. As a result, the burden and risk of failure in payment of interest reduces, thereby benefiting the borrower of loans in Australia in the long run. This also implies that you will have the freedom to make monthly payments during the year. You pay 12 months’ interest before the interest in advance period starts. For a new loan, this is usually at settlement. If you don’t have a common bank transaction account already, you mus

FHOG is an acronym of the First Home Owner Grant and it is a scheme that was introduced way back in 1st July 2000 to counteract the effect of GST on home ownership. FHOG is a national scheme and is funded by the various states and Union territories of Australia. Very beneficial for first time home owners seeking  home loans in Australia . What makes the FHOG scheme lucrative? Under the FHOG scheme, a one-off grant is payable to the first home owners satisfying the eligibility criteria. If you need additional information about the First Home Owner Grant then select the state or the union territory where you intend to purchase your house. An experienced home loan or mortgage broker will be able to easily guide you with the process. Prior to investing in your first home, you need to go through some important facts. The home buyer can receive up to $20,000 along with the FHOG. If you are investing in a new home that is valued at more than $ 750,000 then you may be eligible for FHOG

Before you start looking for a home there are several key details to consider such as: What savings do you currently have? Most lenders will want to see that you are able to save consistently and will usually require your last six months saving history prior to considering you for a loan. If you are able to afford the repayments some lenders will loan you up to 95% of the property purchase price. They may even allow you to add mortgage insurance costs to the loan meaning you may be able to borrow up to 97% of the property value. Either way the lender will require you to have at least 5% of the property value in genuine savings as well as enough money available to cover the other costs of purchasing a property. How much can you borrow? It is extremely important to sit down with a our Professional and arrange a pre-approval for  home loan  finance prior to looking for a property so you know the maximum amount you can borrow and any conditions the lender would require to meet fo