A mortgage calculator is an online tool that shows you how much you’d have to repay based on different home loan scenarios.
The Reserve Bank hasn’t raised interest rates since 2010, so it will be terrible when it eventually happens, right? Well, no.
Having a home loan rejected can be incredibly frustrating, especially if you’ve put a lot of time and effort into your application. While different banks use different criteria to assess home loan applications, there are a few common issues that could see your mortgage application rejected:
The Reserve Bank of Australia’s official cash rate is the overnight money market interest rate that the RBA charges on overnight loans to commercial banks.
A mortgage broker is an individual or company that acts as a middleman between the borrower and the lender. The borrower is usually an individual who wants to buy property, while the lender is a bank or a non-bank lender.
Because Lender’s Mortgage Insurance (LMI) can be a significant extra expense when purchasing a property, it’s important to include it in your budget when calculating whether you can afford a home loan, to avoid finding yourself in financial stress at the very start of a 30-year mortgage term.
Ever wondered which of the high-profile banks offers the cheapest home loan?
If you’re the kind of person who has trouble saving, avoid complicated budgets and the guilt and stress that comes from unexpected expenses by following this one simple savings tip today.
You might be surprised to learn that various lenders are currently offering some of the cheapest mortgage rates in Australia’s history.
LVR stands for Loan to Value Ratio, and is a comparison of how much you’re borrowing with your mortgage (the Loan) to how much the property you’re purchasing is worth (the Value).
The average age of borrowers taking out a reverse mortgage is 75, so many Aussies are turning to reverse mortgages to pay for their retirement.
Ever fancied the idea of flushing money down the toilet? It sounds ridiculous, yet many Australians do something similar.
How much does a mortgage broker cost? How do brokers make their money? And can this affect which home loans your broker recommends? For the answers to these questions and more, read on:
When you’re scraping by to save for your home deposit, the dream can start to feel more like fantasy than reality. RateCity has compiled a list of new and timeless ways you can save your home deposit faster.
^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.