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 […]
What are Strata Fees? Here’s Everything You Need to Know
Forever asking yourself “what are strata fees” and “why do they matter to me”? If you’re considering buying an apartment in a strata building, it’s an attractive option, but you’re likely concerned about the extra costs that come with it, especially with today’s high cost of living. One of the expenses that might be on […]
How Does a Construction Loan Work?
Deciding to build your own home is an exciting step for homeowners, but it can be costly if you don’t have enough savings to cover the expenses of a full build.
Here’s how the New Proposed NSW Stamp Duty Changes Can Affect You
The State Government recommended making stamp duty optional for property purchases as part of the New South Wales recent Budget.
Common Debt Reducer
In today’s market it’s quite common to apply for a home loan separately in individual names while you’re married or in a defector relationship, not just that, there is an increasing number of Australians opt to purchase through a co-ownership arrangement with their family or friends.
Genuine Savings
It’s a term used by lenders to describe the funds you have gradually saved over a period of time (3months in most cases).
What is Loan to Value Ratio ?
LVR refers to your loan amount and how much you want to borrow compared to your property’s value.
Cash-Out Refinance
In simple terms, when it comes to home mortgage refinance, you’re basically replacing the total current mortgage on your property with a brand new one and preferably one with lower interest.
What is a Second Mortgage?
Maybe you’ve been in a similar situation. You took out a mortgage, and you’ve been steadily paying it out, and you suddenly start receiving invites from lenders asking you to take another mortgage.
Homebuilder Grant
If you’re planning on renovating or buying a new home, you’ll need quite a lot of resources.
