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Top 10 Mortgage Tips Deposit Bonds – Act as a substitute for the cash deposit between signing a contract and settlement of a property. At settlement the purchaser is required to pay the full purchase price including the deposit. The…
Top 10 Mortgage Tips 7) Reduce the need for Lenders Mortgage Insurance. This insurance is compulsory where you borrow in excess of 90% of the loan to value ratio of the home. If you can, have enough money to make…
Top 10 Mortgage Tips 5) Home Loan Interest Rate is Not the Most Important Feature. Your mortgage should be tied to your long and short term financial goals. Whilst the home loan interest rate determines your repayments, how your equity…
Top 10 Mortgage Tips 4) Get the Information you need on the Property you want to buy: Find out how much the property is worth, find out which are the best growth suburbs to own or invest in, how much…
Top 10 Mortgage Tips 2) Get your Credit History in Order: Your credit rating will be checked and can affect your borrowing ability. You may find it difficult to secure a loan if you have any unpaid bills or exceeded…
Top 10 Mortgage Tips 1b) Be Prepared: Have your Mortgage Paperwork Ready. The type of documents you will need include up to date payslips, credit cards, 6 months of banks statements, ID and contract of sale.
I get asked the question often by clients “should I have a fixed, variable, interest only or principal and interest loan?” The Home Loan Company can help you decide. Spring is usually the busiest time for buying property. Be prepared…
Top 10 Mortgage Tips 3) Don’t Forget to Factor in Extra Costs when Buying a Property: Including real estate agent fees, stamp duty, Lenders Mortgage Insurance, legal fees, lender fees, building insurance, pest and building inspections. The Home Loan Company…
