Home Loans Articles

What you should know about using super for home loan repayments

You can sometimes use super for mortgage repayments if you risk defaulting and losing your home or if you qualify for the First Home Super Saver Scheme. 

What factors can affect your mortgage rate?

You may have seen mortgage interest rates advertised on lenders websites or sites like RateCity and wondered how they are set and how you can get a better deal.

Loans for first home buyers without any down payment: How they work 

Are you trying to buy your first property with no deposit? It may be possible, but it’s worth exploring all the available options. 

How to get pre-approval for a home loan as a first-time buyer?

While planning to buy your first home, it’s good to understand how much you’re eligible to borrow. Learn more about the process of getting pre-approval on your home loan. 

How can you get a home loan on a low income? 

Even if you’re on a low income, you can still fulfil your dream of owning a home and getting a home loan. Getting home loan approval with a low income and bad credit may just take a little extra effort. 

How long does a home loan pre-approval last?

A great way to speed up the home buying process is by getting pre-approval, but you may wonder how long does a home loan pre-approval last? Can it be extended if needed? Find out.

Take a Sledgehammer to your Mortgage Rate in 2021 | RateCity

Over the past two years, the official cash rate has fallen by a whopping 1.4%. Put simply, if you haven’t checked your mortgage rate during this time, you could be overpaying by an alarming amount.

What do I need to do after closing my home loan?

If you’ve repaid your home loan in full, you will go through the process of discharging or closing the loan. This process involves updating your home’s title and securing your sole ownership. It’s also a good time to examine your finances.

What are the various home loan prepayment advantages and considerations?

Paying off your mortgage faster and owning your home free and clear is a tremendous achievement. There are both benefits and drawbacks to closing your home loan early that are worth considering.

How can I secure a home loan with bad credit?

Having a bad credit score shouldn’t prevent you from applying for a home loan. However, credit issues do affect the type of home loan you can get. 

Understanding non-resident home loans

Investing in Australian property when you’re a non-resident or living overseas means you’ll need to know about non-resident home loans. Find out what you need to know about temporary resident home loans and non-resident loans.

How do second mortgages and home equity loans differ from refinancing?

Both refinancing and home equity loans provide you with a way to borrow against the equity you have built up with your home.

Can I get a home loan with unpaid credit card debt?

Getting a mortgage with credit card debt can be difficult, as lenders may decide that you have low borrowing power. Check if you can cancel a credit card.

Home loan rates now lower than in the 1950s | RateCity

Towards the end of the 1950s in Australia, $7000 bought you a house, interest rates were around 5% and most people drove a Holden.

Can first-time homebuyers get a renovation loan?

Lenders may approve a renovation mortgage for first-time homebuyers if there’s an acceptable reason for the renovation. Lenders may not agree to let you borrow money for renovation unless you have a valid reason. Some of the reasons lenders may accept could be.

Can I cancel a home loan before settlement?

The settlement is the last step in the home buying process, when the lender provides the funds for you to purchase the property and register a mortgage against the title of your new home. 

Buying a second property with a second home loan

Once you purchase your first property, you think that buying the next one would be easy. However, the property market and the lending industry may have changed since the time you brought the first property. Let’s take a look at some factors you should consider while buying a second home.

Unconditional Approval: What is it & can you be denied after approval?

You can start house shopping with a conditional home loan, but you’ll only receive the funds after you get final unconditional home loan approval.