First Home Owners… No Stamp Duty Plus 10K FHOG
If there was ever a time to get into the housing market for first home buyers, it is now. First home owners who purchase units ‘off the plan’ or units / that are newly constructed will be able to take advantage of a stamp duty exemption PLUS a first home owners grant of $10,000 up […]
100% investment purchase, no deposit!
You can purchase an investment property without drawing cash out of your owner occupied home, simply by cross-securitising your owner occupied with the new investment property. This means you combine the total value of both properties as one total security amount, reducing your overall LVR when you combine the total debt on both properties. As […]
No Stamp Duty for purchases under 650K
Stamp Duty on a purchase of $650,000 would normally cost you an extra $25,012, which, when added to legal costs and lender fees , could end up costing the new home buyer up to $677,000. Most lenders will lend up to 95% of the purchase price (including LMI) so you would need a minimum of […]
RELOCATION – I don’t want to move to sell!
RELOCATION LOANS – I don’t want to move to sell… It can be a complicated process, working out the right steps to move out of your existing property (which needs to be sold first) and into a new place (which can take 3-6 months to build). There is also the problem of having to rent […]
The 5 Step process
5 Steps to owning your own home This is a generalised process for purchasing an established home and not advice. House and Land purchases vary slightly regarding the timing and loan structure. Refinances have a different process. Pre-approval – aka Approval in principle (AIP) or Conditional Approval – Essentially this generally means the lender has […]
Helping Young Couples into New homes
Family Pledges are a very good, but sometimes complicated way of helping young couples into their new home, particularly if they have limited savings. This strategy is best explained by way of illustration: (hope it makes the point, see below ). Essentially, where there is sufficient equity in the parents’ home, they are able to […]
Save 12 years and $100,000.
Why Consolidate? Won’t this mean I pay more in the long run? This is probably the biggest misconception about consolidating debt and if you are disciplined enough you can save tens of thousands over the life of the loan. example: Monthly financial debts: Home Loan amount $300,000 @4.6% = $1540 Car loan $30,000 Monthly payment […]
Bad Credit… Can you be Refinanced?
There are many reasons why customers fall behind with finances. Changing between employment, illness and marriage separations can place so much stress on individuals that in desperation they will use whatever means possible to stay afloat financially. Did you know that there are temporary refinancing and consolidation options that can help you stay in your […]
LVR and LMI.
LMI …a friend or foe?
LMI stands for Lender’s Mortgage Insurance and is an insurance which is paid by the purchaser to insure the lender because a loan amount over 80% of the value of the house is deemed to be a higher risk. Opinions on whether buyers should pay LMI are divided but it’s always worth going through the […]