What Are the Best Methods for Interest Rate Comparison?

When shopping for a home loan, there are many essential comparisons to make, such as location, property, lenders, and – maybe the most crucial – interest rate comparison.  Trying to compare home loans and interest rates without using any tools or methods can make it difficult to keep track of everything. Luckily, there are many […]

How to Get a Loan on a Low Income

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 […]

How to Increase Borrowing Capacity

Borrowing Capacity

Beginning the journey of buying a home in Australia can be incredibly exciting; it’s the start of a new chapter and an opportunity to create something special. But before that dream home becomes a reality, there are a few critical steps to take first.  For example, before you even begin looking, it’s helpful to know […]

A Guide to Guarantor Loan Requirements in Australia

guarantor loan

Buying a house can take time, especially while having to save enough money for a sizeable deposit and all the other costs involved. Lenders view customers with a deposit of 20% as a less risky client. Having less than a 20% deposit means you’ll have to pay for Lenders Mortgage Insurance (LMI), this is a […]

How a Self-Employed Mortgage is Calculated

Self-Employed Mortgage

When a potential borrower applies for a home loan, one of the most crucial factors the lender will consider is their taxable income to ensure they can afford the monthly mortgage repayments. A self-employed applicant, however, will be less straightforward, as their monthly income isn’t as easy to prove or calculate. Freelancers, small business owners, […]

What Is a Comparison Rate?

Comparison Rate

Australian lenders are legally required to indicate a loan’s comparison rate – that is, the total cost of a loan. This information means you can accurately compare different loans over a set period.  But what is a comparison rate? And how is a comparison rate calculated? Understanding these points will assist you in making a […]

Non-Bank Lenders: How Do They Work?

Non-Bank Lenders

Non-bank lenders can be a great alternative to traditional banks when your situation is a little out of the box and you need a lender that is more lenient than your mainstream lenders.    Here’s everything you need to know about non-bank lenders in Australia, so that you can make an informed decision about whether going […]

Borrowing Power: How Much Can I Borrow For My Mortgage?

How much you may be able to borrow if you want to take out a home loan is calculated by taking your net income after tax and deducting your expenses, such as groceries, petrol, credit card, loans, and other debts and financial commitments. A borrowing power calculator is a helpful tool to give you an […]

How Much Can I Borrow With A Guarantor Mortgage?

key with a mini house

Guarantor loans are designed to help those who can only afford a small deposit – or even no deposit at all.  A guarantor can be a close family member who uses some of their own home’s equity to secure your home loan. The benefits are that it will could allow you to purchase something more […]

The Ultimate Guide on Land Loans

land loan

A land loan, also referred to as a vacant land loan, is a type of home loan product where borrowers want to purchase a block of land to eventually build a house on one day.  These are popular because they aren’t constrained to a specified amount of time, so the vacant land can stand empty […]