Do you want expert advice to help you purchase your next home, or to refinance when your needs have changed. We stay up to date with dozens of lender policies. This can save you hours of hunting around.
Not all lenders will view your income in the same way. So how much you can borrow can vary from lender to lender. Putting in multiple applications is never a good idea. Doing this affects your credit rating now and into the future.
We will always discuss your options upfront and explain the reasons for this to you, before putting through any applications.
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WHY CHOOSE US
Have you become confused with the various rules surrounding investor loans or first home ownership? Many banks have requirements as to how long your deposit has been held, and where it has come from. They also have limits on the loan to value ratio they offer.
Not all lenders will approve you for the same loan amount, and it is never a good idea to make multiple applications yourself to try to find this out!
We enjoy working with customers long term, and helping you to maximise how much you can borrow to achieve your goals. This includes first home owners, investors, and those wishing to refinance.
I am a first home buyer, are there any grants currently available?
In NSW, you currently receive a full stamp duty exemption for properties being purchased that are $650,000 or less, and a partial exemption for properties costing up to $800,000. This is for both newly built and also for existing properties. As at 1st August 2020, there will also be partial exemptions in stamp duty for first home buyers purchasing newly built properties valued between $800,000 and $1,000,000. With nil stamp duty payable for newly built properties valued up to $800,000. This higher threshold of concessions is set to be in place for a period of 12 months before presumably returning to the earlier system.
If you are buying land before constructing then a full exemption applies up to $350,000 land cost. A partial exemption between $350,000 – $450,000.
You would also be eligible for the $10,000 first home owners grant for brand new properties costing less than $600,000. Or if purchasing land and constructing, where the total contract price is less than $750,000.
What is the best rate I can get on my home loan?
There are many competitive rates out there at present, and we have over 30 lender to select from, when deciding upon this.
Once we provide you with options for varying interest rates we will need to assess your income and financial situation to ensure that the bank with the rate you like, will also like your financial situation. This is because each bank has its own set of rules regarding how they treat income derived from your length of employment, overtime and bonuses, self employed income, to name but a few. Lenders also have differing loan to value ratios, which can at times affect the rate.
Your circumstances are individual and we pride ourselves on assessing your situation upfront. We will match you with a lender that will also be likely to approve you for the very loan that you are seeking.
I want to get cash out of my home loan for renovations, is this possible?
There are many options available for cash out, and varying lenders will set different limits as to how much you can withdrawal from your loan.
They will also look to whether you are undertaking internal renovations or structural renovations. It is a good idea to speak to someone with access to many lenders whom understands the differing polices. This will ensure that your cash out desires are matched with a lender whom will approve of this.
I have recently changed jobs, can I still get a home loan?
If you have recently changed jobs, but are still working in the same industry as you were previously, you may be surprised to know that you are still eligible for a home loan!
So if you have recently taken a great opportunity to move to a better paying job, or a better position with another company, don’t let this deter you from following your goal of getting a home loan sooner rather than later!