Home Loans Articles

What are the upfront costs when buying a home?

Here is a comprehensive look at the major upfront costs you may be charged when buying a home, their average costs, and how you can potentially avoid them.

Will a limited credit history affect my home loan application?

If you’re approaching a bank for a home loan, then odds are you’re asking six figures or more. And before banks deposit it into your account, they want to know they’ll receive their investment back.

Answers to your questions about home loan documents required for self-employed workers

If you have questions about what home loan documents for self-employed workers lenders usually ask for we can help explain what documents are needed and why.

Do bank employees get better mortgage rates?

You may not get a preferred home loan rate just because you work at the bank. Consider comparing offers from different lenders before applying for a home loan.

Finding the right housing loan for a self-employed person

When looking at and applying for a housing loan for self-employed, consider checking the lender’s requirements and conditions to make sure you get a home loan that suits you.

Will a HECS or HELP debt affect your credit score?

While your uni days might now be a thing of the past and your focus is on the future, you may be left wondering if your student debt will rear its ugly head.

Minimum Credit Score for Home Loan Australia | RateCity

When you are starting the home loan application process, you could have some anxious moments about how lenders will view your application. Typically, lenders look at factors such as age, occupation, and income. In addition to those, your credit score plays an important role in evaluating your application.

How to qualify for a home loan if self-employed

If you’re self-employed, home loan qualifications can depend on how long you’ve been self-employed. Check the details of all home loan options available to you.

Home Loans for Medical Professionals

Home loans terms are not exactly the same for all borrowers. Medical professionals are often eligible for special benefits while applying for a home loan.

What you should know about home loan criteria for self-employed borrowers

Your friends and family may have given you a lot of info about applying for home loans, but does it all still apply to you if you’re self-employed? Special home loan criteria may apply for self-employed borrowers, so it’s important to be prepared to help ensure you get a home loan that will suit your needs.

Does HECS/HELP debt affect home loans?

If you have a university education in Australia, you’ll likely also have a HECS/HELP debt. It’s still possible to get your first home loan with a higher education debt owing, though like other outstanding loans, it could potentially affect your mortgage application.

What you should know about LMI waiver for professionals

Depending on your home loan amount, you may have to pay for Lender’s Mortgage Insurance (LMI). Check if you can get the LMI waived based on your profession.

Can you Include Renovation Costs in a Mortgage? | RateCity

Traditional real estate advice says to buy the worst house in the best street – you can pay less today and renovate tomorrow. But renovating still costs money, so you may want to look into the options for using your home loan to help take care of your budget.

What is a reverse mortgage, and what are the risks?

A reverse mortgage is a financial product that allows retirees to unlock the value of their family home. Sometimes called an equity release loan, a reverse mortgage lets you access a lump sum, line of credit or income stream to support your lifestyle in retirement. But just like any other financial product, there are risks involved with reverse mortgages, which you should be aware of before you apply.

Can I get a home loan with no credit history?

If you prefer to avoid borrowing money wherever possible, you may run into some trouble when it comes to buying property. Not only is a home loan almost essential when it comes to Australian real estate, but having no credit history could make your mortgage application a little bit more challenging.

How low could home loan rates go?

With Australia entering its first recession in decades, banks and mortgage lenders are eager to sign up new customers, and are making discounted interest rates available to first home buyers and refinancers. Large and small banks have been slashing both fixed and variable interest rates, and may continue to compete by offering further discounts.  

Five reasons to refinance this financial year

With the next financial year right around the corner, if you’re looking for a way to cut down on your biggest bill, you may want to consider refinancing your home loan.

Five home loans to let you borrow more in July 2020

Many people manage to secure a home loan with a deposit of less than 20 per cent, and that all comes down to what the lender allows.