Mark Bristow

Some of the best investor home loans at the end of June 2021

With some economists predicting that mortgage interest rates could start rising sooner than expected, investors may be looking for ways to lock in the current low rates for longer, or to cut costs on their investment property, or both.

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.

Some of the best home loans in June 2021

The era of record-low fixed rates may be ending, with leading banks starting to increase the rates fixed home loans – first for 4 and 5-year fixed rates, and now for 2 and 3-year fixed rates. However, there are still mortgage deals available to Australians wanting to lock in a low rate, as well as other rewarding options.

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 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.

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.

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?

What adds value to a house appraisal?

Thinking about selling your property? By making a few changes to enhance your property’s appeal to potential buyers, you may be able to maximise the house value at your real estate agent’s appraisal. This could help to set buyer expectations, leading to a higher sale price.