When Can a Guarantor Be Released?
Guarantor home loans are increasingly gaining popularity, but before you get caught up in the hype and jump right in, knowing how to get out is important. You can release a guarantor through refinancing the home loan as soon as they meet the criteria set out by the lender. But releasing them as quickly as […]
Can You Salary Sacrifice Your Mortgage?
Navigating the last few years of a volatile economic period has been a challenge for many Australians, leaving them now looking for new ways to save money. One strategy to help you save on taxes is to salary sacrifice some of your pre-tax income. A salary sacrifice arrangement allows you to redirect a portion of […]
How to Get a Loan on a Low Income
The property boom in Australia has seen the median house price in Australia’s capital cities skyrocket to nearly $1 million, which means that, for prospective homeowners, a 20% deposit on a mortgage could be anywhere between $180,000 and $200,000 – no small sum! For those on a low income, this can seem an insurmountable challenge […]
Everything a Property Valuation Report Covers
When it comes to buying or selling a house, it’s essential to understand the value of the property on the current market. Despite what might initially seem like a straightforward process, there are actually many different factors to consider when assessing property value estimates. This is why it’s important for both buyers and sellers to […]
How to Get More Money Out of Your Property with an Equity Release Mortgage
The obvious benefit of paying off a mortgage is owning your property, but homeowners have another lucrative benefit, too. Building up home equity in your property by servicing your loan means you’ll have access to that equity after several years. Equity release loans can be more affordable than personal loan or credit card due to […]
How to Draw Equity Out of Your Home (And Why You Should)
Thinking of renovating one of your properties, or perhaps investing in a new one to grow your portfolio? Considering the usable equity accumulated in your original property is a savvy way to help finance this venture. A home equity loan is an excellent alternative to a personal loan, or even a line of credit because […]
My Fixed-Rate Home Loan Is Set To Expire Soon and Cash Rates Are Up—What Now?
Did you know there are over 500,000 fixed-rate mortgages in Australia scheduled to expire towards the end of 2023? Because the cash rate was exponentially lower at the time of locking in the interest rate, these fixed-rate borrowers are now facing doubling of mortgage rates (if not more) once the loan is reverted back into […]
How To Pay Off Your Home Loan Faster
The goal of paying off your home loan as soon as possible is beneficial for various reasons, namely in that it can save you thousands of dollars on interest and avoid the risk of foreclosure. Plus, the freedom of being mortgage-free means you can focus your finances on your children’s education, your retirement fund, or […]
Everything You Need to Know About a Pre-Approval Home Loan
Home loan pre-approval, also called conditional approval, is confirmation from a lender that an applicant is eligible for a home loan of a specified maximum amount. They don’t have to take the loan, and the lender doesn’t have to lend that amount, but, in principle, the conditional approval shows sellers the applicant is a serious […]
What are High LVR Home Loans & How Do They Work?
Thanks to high LVR home loans, many Australians find that they can become homeowners sooner than expected without saving up for the typical 20% deposit. Lenders compare the value of the property you want to buy with how much money you would like to loan from them, and that will be your loan to value […]
