Choosing between a fixed or variable rate home loan is a common dilemma for many borrowers. With interest rates at historical lows you may now be considering fixing in your home loan rate. But this may come with a catch. We look at what they are and outline some of the key advantages and disadvantages of…
Small changes now can mean big differences later to how much of your home loan you end up repaying – and how long it takes. If you’ve recently had a home loan approved or are already some way into your repayments, you may be thinking about how you can pay it off sooner rather than…
There are a number of reasons why a person may want to invest in property, but they never actually get around to it. Sometimes we have the best intentions and really, truly want to take action. We do research. We attend the seminars and the courses. We also get educated and learn what’s possible. We also discover the…
If ever there was a need for a case study about property market cycles, the past 18 months would pose as a great demonstration. After a soft start to the 2019 calendar year, the stage was set for a very underwhelming FY2020. Last year, positivity had returned before COVID-19 However, the start of FY20 saw…
If you’re looking to buy an investment property and have equity in your own home, refinancing your home loan could be the best way to fund your purchase. In this article we’ll explain how this may work for you. Why refinance your existing home loan? Usually, when you take out a home loan to buy…
The coronavirus pandemic has hit many Australians financially, through job loss and reduced income. If you were hoping to buy a home before the pandemic but now find yourself earning less, you probably think your chances of getting a home loan are next to zero. But this may not be the case! While lenders are…
There’s good news for first home buyers and owner-occupiers! On June 3 the federal government announced a $700 million housing package for Aussies to access $25,000 grants to build a new home or start a major renovation. What does that mean for you? As a first home buyer or owner-occupier, understanding what federal grants, incentives…
A building (or construction) loan is one you might apply for if you were looking to build a new home, or to make some major structural changes to your existing home. Generally building loans are written as a land and construction loan, where the borrower applies for a loan to cover cost of the purchase…
It’s not surprising that many first-home buyers keeping abreast of the latest property news are feeling the “fear of missing out”. Interest rates are at an all-time low, restrictions on public auctions have eased, and some homes have been discounted according to recent data from realestate.com.au. While these conditions can provide a boost for first-home…
Going to bid at an auction without getting pre-approval for a home loan first is a bit like going shopping without a budget or even a wallet. Here are four reasons you should always make sure you’re pre-approved before you raise your hand at an auction. What is home loan pre-approval? Pre-approval for a home…