Home Loans Articles

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How fast can you get a home loan?

How fast you can get approved for a home loan depends almost entirely on the lender. You should ensure you have the necessary information before applying.

Can a mortgage broker charge a cancellation fee?

You normally don’t pay a fee for the services of a mortgage broker. However, if the broker does the work for you and you decide not to apply for a home loan, the broker may sometimes charge a cancellation fee. There are also other fees a broker may charge in certain circumstances, such as a clawback fee. 

How does raising interest rates curb inflation?

After a decade of lowering the cash rate, the Reserve Bank of Australia finally began hiking rates; according to experts, to curb rising inflation levels. So, how does hiking interest rates stop inflation?

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.

Interest rates on the rise: how to afford your higher mortgage repayments

The Reserve Bank of Australia has hiked the cash rate again, so what can homeowners do right now to help give their budget some breathing room and better afford higher mortgage repayments?

Can you make extra repayments on a fixed loan?

Not every fixed rate home loan will allow you to make extra repayments. So, what are your options if you want a fixed rate home loan and you want to make extra repayments? 

How to avoid overstretching your home loan budget

The more you can borrow for a home loan, the higher the property prices you may be able to afford. While this could let you purchase your dream home or investment property, pushing your finances too far could risk putting you in mortgage stress.

How to prepare for an interest rate rise

As the interest rate is arguably the biggest ongoing cost that can influence a home loan, preparing your budget for a rate rise may be useful in reducing potential financial stress.

Which bank is best for first home loans?

Because a home loan is a major financial commitment, it makes sense to look for the best possible option for your first mortgage. To find the best mortgage lender for your needs, you may need to look beyond just the interest rates and consider each lender’s features and benefits, including their customer service.

How does the interest rate affect mortgage payments?

If you’ve taken out a variable rate home loan and the interest rate changes, your monthly repayment amount will change. Understand how this works.

Why lenders may use exposure limits to curb the size of your mortgage

Exposure limits are the maximum amounts that lenders will let you borrow, taking all your current debts into account. For property investors taking out a mortgage when they’re already paying off others, debt exposure can be a dealbreaker.

How to get multiple mortgages for investment properties

Investing in real estate can let you benefit from rental income today and potentially capital gains in the future if your investment property’s value increases. The more investment properties you add to your portfolio, the more of these benefits you could potentially enjoy.

Can I use my super for a home loan deposit?

The First Home Super Saver (FHSS) scheme allows eligible first homebuyers to withdraw some of their voluntary super contributions and put them towards a home loan deposit.

Can you buy a house with a reverse mortgage?

Unlike a typical home loan, a reverse mortgage is often taken out by people who already own a home. A reverse mortgage allows equity in the home to be unlocked and used on other expenses, but it may not be easy or even possible to buy a home with a reverse mortgage. 

How to purchase property as a couple but keep one name on the property title

If you’re purchasing a property with another person and want both names on the mortgage but only one name on the property title, you’ll need to check if your lender allows this.

How to lower your mortgage repayments

You can lower repayments by negotiating, refinancing and making extra payments. Understanding your choices and alternatives can provide a solid foundation from which to seek out the best opportunity.

How to refinance a home loan in six steps

Refinancing your home loan is a strategy that could save you thousands. If you are considering refinancing, here are the steps you need to know.