Home Loans Made Easy

our homeLife has become so busy we all need specialist help to gather the information. We want to make the right decision when we make one of the most important financial decisions of our lives.

Always talk to more mortgage brokers than just your bank. Be skeptical and persistant.

The informatio on this site should make it easier for ou to list your questions.

Standard Variable Rate Loans

The standard variable loan is the most common type of home loan and has an interest rate that is based on Reserve Bank official rates which can move up or down. It also gives borrowers considerable flexibility in managing their loan and repayments. There is also a basic variable loan that is relatively inflexible and does away with most benefits.

The summary of qualifying criteria is likely to be as follows:

  • Loan to 80% of property value or up to 95% with lenders mortgage insurance (LMI)
  • Borrower to provide deposit of 10-25% or securable assets to cover difference
  • A clean credit rating (CRAA).
  • Income Serviceability Test
  • Some postcode areas have lending limits. (Information provided on application)
  • You should be able to obtain a "pre-Approval" before you start shopping for that particular property.

With professional help you can obtain a great home loan with a very competitive low rate tailored for your situation.This may require you to check with several lenders and good mortgage brokers.

 

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