LMI or lenders mortgage insurance is something that is often heard of in relation to home loans. But many people don’t know what this kind of insurance is actually for, or who it protects. So what exactly is lenders mortgage insurance?
Most people realise their bank statements are an important part of their home loan application. But what they don’t realise is what lenders are looking for in their statements. Lenders aren’t just looking for regular paychecks, or a good history of saving. There are lot of things lenders look for your statements – and they can cause big problems.
When people want a home loan consult, they might get on the phone, or head to a local bank. But it can be frustrating, standing around in a long queue at bank, just to ask some simple questions about getting a home loan. Being stuck on hold for the same reason can be equally painful.
Many people plan on buying an investment property, and save hard for their deposit. If this is your goal, it’s important to make sure your investment property deposit is big enough. Changing lender rules have had a big impact on how much investors have to save.
Everyone knows that different lenders have different interest rates, and loan packages. But did you know that your borrowing capacity also varies between lenders? While one bank might lend you one amount, another lend you much less. Why is this, and how can affect you?
We are committed to changing the face of finance brokers. We know how important your goals are, and understand the importance of getting the most out of your loan, without paying unnecessary interest or charges. Our goal is to help you, within your own unique situation, to achieve the greatest savings possible.