Pay off your home loan sooner. You can do it, it will make you and your family very happy! Here are a few tips that will become the fundamental ingredients that you can apply over and over again. It’s not difficult, it just takes a little time. Work out a budget and stick to it! […]
Home loan terminology Australia – it’s hard to get your head around sometimes isn’t it? We have compiled a list of commonly used home loan terms to help you get up to speed. Application Fee: The fee charged by a lender to cover or partially cover the cost of setting up or establishing the loan. Assets: Money, property or […]
Find out what types of home loans and features are available…. Types of home loans and their features can become confusing. Your mortgage broker will help you through this process, but to give you the heads up, the following information will help you understand the types of home loans available, as well as the features […]
PROPERTY PURCHASE PAYG/SALARY Two most current payslips Two years tax returns or Group Certificates Rental income verification. If using rental income for loan servicing 100 points of ID (eg Passport and Drivers Licence) Confirmation of Deposit Funds (savings history if required) Copy of executed purchase contract executed by at least the vendor showing purchase price […]
You need to exchange contracts – don’t have 15% or 20% cash……what do you do? A deposit bond is a guarantee usually issued by an insurance company to the seller/vendor. It acts as a substitute for the cash deposit between signing a contract and settlement of the property. At settlement the buyer/purchaser is required to […]
Who sets the interest rate – or what interest rates you have to choose from? Interest rates are loosely determined by the Reserve Bank of Australia (RBA). It is responsible for following the developments in the Australian and international economies and financial markets. Each month the RBA hold a meeting to examine the rate of […]
