Home Loans Articles

When do you start paying off your mortgage?

Once your mortgage is in place, you need to make repayments every month. When should you start repaying your mortgage? 

What happens to a mortgage in a divorce? | RateCity

From coming to terms with the end of your relationship to dealing with parenting and living arrangements, divorce is difficult. And if you hold a joint mortgage with your spouse, it can further complicate matters. Here are the different options available after your divorce.

How to apply for a home loan

The exact process of applying for a home loan may depend on the mortgage lender you choose, as well as your own personal and financial situation.

What is home loan serviceability?

Home loan serviceability refers to your ability to repay a loan, and affects the amount you may be able to borrow from a lender.

How can I pay off my parents' mortgage?

If your parents are struggling to repay the mortgage on their house, you could step in to ease the burden by paying on their behalf or assuming the title to the property and refinancing it.

Can you borrow 100 per cent of a home loan?

Most lenders need you to pay a deposit of at least 20 per cent of the purchase price before approving a home loan. This can take several years to save up. A 100 per cent mortgage doesn't require any deposit. However, these are not readily available and generally require a guarantor.

Is it possible to borrow money from family for a mortgage?

If you’re struggling to put together a deposit worth thousands of dollars for a home loan, a family member could help by contributing a portion of the deposit. For instance, it’s not uncommon for parents to help their children get on the property ladder by giving them a lump sum amount to meet the minimum deposit criteria for a home loan. There are several other ways in which you can borrow money from your family for a mortgage.

How to pay your mortgage while on maternity leave

It’s common for new mothers to take a break from work to take care of their newborn baby. How will you manage mortgage repayments if your income reduces? Here’s how you can plan for this situation.

Understanding mortgage guarantor criteria

If you are looking for home loan guarantor information, this article will provide an overview of the things you must know before you apply for a guarantor mortgage.

Can you refinance a home loan without equity?

Having low equity in your home doesn’t mean that you can’t refinance your home loan at all. However, it does limit your options and adds to your costs. This means that you might have to pay for lenders mortgage insurance (LMI), regardless of whether you’ve paid it before. 

How to start saving a house deposit this year

Could this be the year when you finally sign on the dotted line and become a home owner? To do that, you’ll need to save a deposit, which isn’t as easy as it sounds. But there are savings strategies to consider and support options available that may be able to help you make real progress towards your goal this year. 

How to gain home loan approval in 2022

You’ve done the hard work of saving up for a deposit for a property, only to discover the work isn’t over come mortgage application time. There are a number of steps you may take to increase your likelihood for mortgage approval in 2022.

Mortgage Broker Commission Rates: What are they? | RateCity

Are you buying a new home and need the help of a mortgage broker? You may want to know more about the commission and trail commission your broker may receive.

The real cost of buying a home that needs renovation

Purchasing a fixer-upper home could save you upfront costs but there are plenty of other things to consider, especially the cost of renovating your home.

Finalising your purchase after mortgage pre-approval

Getting a mortgage pre-approval is an important step in your home buying journey. Find out the next steps after getting a pre-approved mortgage.

What are the advantages and disadvantages of paying off your mortgage?

You’re probably looking forward to the day when you no longer need to repay your mortgage. While you could pay it off early, you should also consider the pros and cons of paying off a mortgage.

What is the loan-to-value ratio on a reverse mortgage?

While applying for a reverse mortgage, you should understand your loan-to-value ratio and how it impacts the amount you can borrow.

Calculating the market value of a property

When you’re buying, selling or refinancing, it’s handy to know how to calculate the market value of a property. Getting an estimate will help with the next steps.