Home Loans Articles
Relevant Home Loans articles and tips
What you should know about borrowing money on your mortgage
If you’re looking to borrow additional money on your mortgage, you must consider a few things before applying for a top-up loan.
Basic Variable Rate (Flexi First Option) Home Loan
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Lower than average interest rate
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based on $300,000 loan amount for 25 years at 2.09%
How to find a good lender for a mortgage?
Finding the right home loan provider can be as important as finding the right house. Here’s how to check if you’ve found a good mortgage lender.
What is lending criteria? The factors that may help you get a home loan
Banks and mortgage lenders want to make sure that they provide home loans only to borrowers who can comfortably afford the repayments. With this in mind, most home loan deals require borrowers to fulfil certain eligibility criteria in order to successfully apply.
Should I get an offset account?
When searching for your ideal home loan, there are a range of helpful features that can offer more flexibility and reduce your ongoing repayments. One of the most popular features for a home loan which may do just that is an offset account.
What are the pros and cons of a mortgage offset account?
Getting a home loan with the right features is one of the simplest ways to reduce your costs in the long term. A mortgage offset account is one feature that could make a huge difference, potentially saving you thousands of dollars per year, and may help you repay your mortgage sooner.
Can you deposit cash in your home loan account?
Many banks and other mortgage lenders will let you make extra repayments onto a home loan. Depositing your extra cash into your mortgage like this can help to lower your loan principal, reducing your interest charges and bringing you closer to exiting the loan early. However, it’s not always easy to take this cash back out of your mortgage again in a hurry, unless your home loan has a redraw facility.
How much does a house depreciate in value?
You may not think of houses as depreciating in value – after all, don’t house prices keep going up and up? But property investors know that houses and apartments experience wear and tear over time, which requires upkeep and maintenance. While this can eat into the rental yield from an investment property, the depreciation costs can often be claimed as an expense on your taxes.
What homeowners need to know about mortgage lenders going bankrupt
Ever paused and wondered what would happen if your mortgage company went bankrupt? Generally speaking, your home loan will most likely be transferred to a new bank that chooses to absorb the bankrupt mortgage lender.
Do you need a bank account to get a home loan?
To get a home loan, you’ll need a bank account in order to manage the repayments. However, you aren’t required to bank with the same financial institution that holds your mortgage.
Do I need multiple mortgage pre-approvals?
Getting pre-approved for a mortgage can help narrow down your property search considerably, as you’ll have a firm budget in mind while you go house hunting. Additionally, being pre-approved for a mortgage puts you in a better position to negotiate a price at an auction.