Home Loans Articles
Relevant Home Loans articles and tips
How do mortgage companies verify income?
When you apply for a home loan, you’ll need to show the lender that you can comfortably afford the repayments. But how exactly do banks and mortgage lenders check your income and confirm that you earn enough for a mortgage?
Is a fixed or variable home loan better?
The best choice between a fixed or variable home loan interest rate may depend on your personal and financial situation, as well as your home loan goals. There are advantages and disadvantages to fixed and variable interest rates, which could affect the value that different home loans offer you.
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Interest rates ranked in the best 20%
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based on $300,000 loan amount for 25 years at 1.85%
Can I borrow money for stamp duty?
Stamp duty can be a significant cost to consider when buying a property. As well as your deposit and other fees and charges, stamp duty can add thousands of dollars to your upfront costs, depending on the value of the property. So it’s not surprising that some Australians look for alternative ways to manage this expense, such as borrowing money for stamp duty.
What is the maximum amount you can borrow with a reverse mortgage?
If you’re considering a reverse mortgage, several factors impact the maximum amount that you can borrow.
What can count towards a home loan deposit?
The first step on many a home loan journey is saving up the deposit. Unfortunately, it’s often also a step that many borrowers struggle with, thanks to the high property prices in some Australian cities. Fortunately, there are several methods available to supplement your savings, so you can get your deposit together to buy your property sooner.
Tax deductions for your investment property
To make the most from your investment property, it helps to better understand its tax deductions. Find out more.
Refinancing a mortgage to pay for renovations
Whether you’re planning to knock down some walls or touch up your bathroom or kitchen, you may need to borrow some money to pay for the material and labour costs. One of the options is to refinance your home loan and free up some cash to pay for the renovations.
Can I add someone to my home loan?
A joint application is one of the simplest and most common methods for two people to end up with their names on a mortgage. Adding a second person to a mortgage that’s already in place can be more complex.
What do mortgage lenders look for in bank statements?
When you’re applying for a home loan, you will need to send your bank statements to the lender. It’s a good idea to know what lenders are actually looking for when they go over your bank statements.
What is a property history report, and how can it help you?
If you’re in the early stages of purchasing a property you may be curious to the history of the home you’re considering buying. After all, how can you move forward with a property if you don’t know its past, including rental yields and growth of its market value?
Can I get out of a fixed rate mortgage?
Many borrowers love fixed rate mortgages, as they let you lock in a low rate for one to five years. Even if variable rates increase, you’ll keep making the same repayments for the rest of the fixed term. But is it possible to refinance a fixed rate mortgage and switch to a lender offering a lower interest rate?
Can you change your home loan to an investment loan?
Mortgage lenders offer different types of home loans to owner occupiers and to property investors. After all, buying a home to live in is a different type of transaction to buying an investment property, and comes with a different type of risk for the lender. So, what steps would you need to take to turn your owner occupied home loan into an investment loan?