What Are Strata Fees, And How Much Do They Cost?
Strata fees are the levy paid for the essential maintenance of a property that houses multiple individual units. Buildings and land require upkeep, and with all members of the unit paying strata fees, the cost of that upkeep is split. Strata fees in NSW are charged on buildings that house several units or apartments […]
What Is A Reverse Mortgage, And How Do They Work?
A reverse mortgage is a form of home equity release and offers a way of turning the value of your property into liquid cash. You can receive payments and retain the title deeds and live in your house, and eventually, your lender will own a proportion of the property. How Does A Reverse Mortgage Work? […]
What Is The First Home Buyer Process In Australia?
From saving for the initial deposit to understanding different mortgage options and government tax exemptions, there’s a lot to think about when buying your first home. The path to owning might seem out of reach, but you can make the right decisions with the right guidance. Australia has several financial and legal requirements for first-home […]
How Much Deposit Do I Need for a Home Loan?
If you’re wondering, “How much deposit do I need for a home loan?” – the answer is not as straightforward as you might think. While most participating lenders require a minimum 5% house deposit, the bigger your deposit amount, the less likely you will have to pay lender mortgage insurance (LMI). But, if you’re eligible […]
Roadmap to Financial Assistance: Who Will Give Me a Loan When No One Else Will?
The journey to secure a loan can be challenging for individuals with poor credit, leading many to ask, “Who will give me a loan when no one else will?” When you have bad credit, getting approved for a loan may seem impossible, with traditional lenders hesitant to take on the perceived risk. However, there are […]
Does a Low LVR Mortgage Mandate LMI?
Buying a property and looking to secure a low LVR mortgage? Understanding the financial aspects of buying a property can often be overwhelming because there’s all this terminology and specific requirements you might not know off the bat. What does it mean to have a LVR? Can I secure a loan with a low LVR?Will […]
What Does Conditional Approval Mean?
Are you looking to buy a home and wondering, “What does conditional approval mean?” Having a solid grasp of the mortgage process can be an invaluable asset when you’re on the quest to buying a home. One of the phrases you might come across is ‘conditional approval’. It’s a critical moment in the home loan […]
How to Calculate Equity in Home (Step By Step)
Homeowners often wonder how to calculate their home’s equity, which is the portion they truly own and is a valuable asset. If you want to renovate, invest in property, or pay off debt, using your home equity can help. However, figuring out how much equity you have in your home can be confusing. You often […]
Understanding the Impacts of a Mortgage in Possession
Understand key home loan terms, including “mortgagee”, “mortgagor”, and “mortgagee in possession”, and learn how to navigate financial hardship.
The Difference Between a Private Treaty VS Auction in NSW
For first-time homebuyers, the journey of acquiring a home loan can be an overwhelming sea of information to navigate. In addition to understanding the ins and outs of home financing, another crucial aspect of the homebuying process is comprehending the two primary methods of selling a house: a private treaty, or an auction. Let’s delve […]
