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Mortgage Comparison Articles & Tips

Mortgage comparison tips (how to compare / what to look out for)

By admin | October 25, 2018 | 0 Comments

Now that you know how much you need to borrow and deposit to get your new home or property, the next step involves comparing the different mortgages available. This is a vital step and includes more than just looking at the mortgage rates but also ensuring you have picked the right product. You can achieve this in the following ways. Fixed interest rate vs. variable interest rate When presented with various mortgages, it is essential to compare fixed interest rate and variable interest rate. A fixed interest rate will require you to pay a specific constant amount in a given period. However, your decision to go for either of the rates heavily depends on the changes in the interest rates. When you go for a variable interest rate, any significant change in the interest rate by the Reserve Bank of Australia will affect your repayment and this will not always…

The Benefits of Hiring a Mortgage Broker in Sydney

By admin | October 20, 2018 | 0 Comments

Mortgage brokers do a lot of things for you that you, as a homeowner, might find difficult or tedious to do. Not only that they handle a lot of the paperwork and the negotiations for you, but they can also act as a consultant when it comes to any real estate related issue. If you aren’t convinced about hiring a mortgage broker for your next property deal, then here are how hiring a mortgage broker can benefit you. OFFERS ACCESS TO HUNDREDS OF LOAN PRODUCTS A mortgage broker offers an array of mortgage loans from many different lenders. The more experienced the brokers are, the wider the connection they will have, and the more proficient they will be at negotiating the best deals. You will have a better opportunity to obtain the loan product and the interest rate that better fit your goals if you work with a broker. FINDS…

What to Consider When Getting a Home Loan

By admin | October 9, 2018 | 0 Comments

Australia is one of the leading countries in terms of home ownership on the planet. That being said, it isn’t always so easy to get Australian property in your name. The home loan process isn’t as easy as you’d think, either. So before you go with the first home loan that you find, be sure to spend time evaluating whether it’s the right one. Which interest rate is best? There are three basic types of interest rates for home loans: variable, fixed, and split. The variable rate is going to give you the most flexibility because the rate is subject to change at any time. The rate depends on the Reserve Bank of Australia’s cash fund as well as the current health of the economy. This can seem rather risky, but most of the time you’ll be able to get lower interest rates than you would with a fixed rate.…

What to Look For in a Home Loan

By admin | October 2, 2018 | 0 Comments

Deciding what property to purchase is hard enough. But even after you’ve found the perfect property, you’ve still got to select the right home loan! If you’re in the process of getting a home loan, here are some questions that you may have: How much should I be paying for the deposit? Most lenders offer loans at different loan-to-value ratios (LVRs). This is the proportion of the loan amount that you can borrow from the lender. The amount will also help you determine how much you will have to be paying for the deposit. Will I be needing Lender’s Mortgage Insurance (LMI)? If you are opting for a deposit of less than a fifth of the total cost, you may be required to purchase lender’s mortgage insurance. This protects the lender in the case of you defaulting on your loan. It comes in the form of a premium payable on…