How to Prepare for New High Interest Rates
In a world where change seems to be the only constant, one thing has remained steadily on the rise: the Reserve Bank of Australia’s interest rates. Month after month, for the last year, we’ve seen the announcement of another hike. The word “increase” now feels like a drumbeat, inescapable and resonant. While great news for […]
A Guide to Australia’s Home Guarantee Schemes
Homeownership. It’s the dream many of us share—that little piece of Australia to call our own. Yet, let’s face it, the journey there can be as daunting as it is exciting. Amidst a high cost of living and soaring housing prices, the goalposts move when we’re about to kick the ball. You might even stumble […]
3 Tips for Saving for a Home Loan Deposit
As the property market in Australia reaches unprecedented heights, many aspiring homeowners find themselves disheartened and, at times, overwhelmed by the prospect of accumulating a sizable deposit. The ever-increasing prices, coupled with the fierce competition, can make even the most determined property buyers question their ability to succeed in this market. Unfortunately, this daunting scenario […]
How do Mortgage Lenders Calculate Affordability?
Securing a mortgage to purchase a house is a significant financial decision that involves understanding several key factors, the primary one being mortgage affordability. This key component determines how much you can borrow from a lender while ensuring that the repayment is balanced with your finances. This blog post will delve deep into mortgage affordability, […]
Should You Choose a Fixed Rate Home Loan in 2023?
Are you wondering whether fixing your home loan is the ideal decision for you? Many homeowners are considering this option, particularly with the frequent changes in rates and other economic factors. When it comes to purchasing a home, the difference between a fixed interest rate period and a variable can impact your loan amount and […]
What Does the RBA Cash Rate Mean for Your Home Loan?
It’s crucial to understand the relationship between the changing RBA cash rate and your home loan for effective mortgage management and making informed financial decisions. However, many homeowners may be unsure about the impact of cash rates on their home loans and their own interest rates, particularly with the rates changing every month as they […]
Guarantor Loan: How to Get One, Who Might Need One, and What a Guarantor Is
Saving a substantial deposit for a home loan can take years, and for those with limited income, it might seem like an impossible task. Fortunately, there are other options that can help get people into their own homes when in a difficult financial situation, such as through a guarantor loan. If they don’t meet the income […]
Does My Borrowing Power Impact My Ability to Refinance?
There are so many reasons you might consider refinancing your home. Whether you’re looking to take advantage of a lower interest rate, access the equity in your home, or consolidate your debts, refinancing can be a fantastic choice. If you’re thinking of refinancing your home loan, one of the key factors to consider is your […]
How to Get a Loan With Bad Credit
Trying to get a loan with bad credit can feel like a difficult task, and it’s easy to feel disheartened by the process before you’ve even begun. Luckily, there are avenues available. Let’s look at some ways you can potentially secure a loan and make an informed decision that will help you achieve your financial […]
What Is LMI?
Lenders’ Mortgage Insurance (LMI) is a common insurance product taken out by a lender against borrowers electing to use them for a home loan. LMI mitigates the risk of that lender losing their money in the event that the borrower defaults on their loan. It can either be paid as an upfront, one-off fee or […]
