How to Increase Borrowing Capacity for Your Home Loan
If you’re considering buying a property in Australia, you’ve probably heard the term ‘borrowing power‘. Well, what is your borrowing power, why does it matter, and how do you increase it?
How Does Compound Interest Work on a Mortgage?
Home loans might seem complex and confusing – with such a significant financial commitment; you should try to understand the ins and outs of your mortgage. While there are home loan calculators to help you estimate the cost of your mortgage, you should know how your lender calculates your interest rate.
15 Things To Consider When Purchasing a Second Home Overseas
Buying a first home is a huge step; you need to consider your finances, your perfect location, the type of home you want, and more! However, if you are an Australian Expat buying a second property overseas, there are more elements you need to consider.
What is the Average Mortgage Interest Rate in Australia?
Home loans in Australia come in many different forms and come with many variables. One of the variables that fluctuate the most is the mortgage interest rates. The rates go up and down constantly, so for an expat, it’s worth knowing what the current rate is and what interest rate home loans are available.
How to Calculate My Borrowing Capacity for an Australian Mortgage
Unfortunately, lenders won’t let you borrow any old sum to buy a property. Each of us has a borrowing power – this is essentially the maximum home loan amount you can borrow from a lender. And it depends on several factors. Let’s look at what affects borrowing power and how to improve yours with our borrowing power calculator.
Costs of Home Buying in Australia: Everything You Need to Know
Buying a house isn’t cheap. We all know how mortgage repayments can eat away at our income over the years, but how many other costs are there? Once you factor in stamp duty, conveyancing fees, real estate agent commission, land tax, and contents insurance, the costs of buying a house creep up and up.
Will Australian Lenders Accept My Foreign Currency?
Applying for an Australian expat home loan and need to know if lenders will accept your foreign currency? There is really great news and some slightly less great news. But mostly, it’s good.
Which Lenders Accept Foreign Income for Australian Expats?
Are you curious to find out which lenders accept foreign income for Australian expats? Are you searching for the right lender to establish a home loan or to refinance, and do you find the process complex and challenging?
How Much Can I Borrow For an Investment Property in Australia?
Navigating the home loans market is much like walking through a minefield, not least when you’re an expat.
How Much Deposit Is Required for a Home Loan?
Purchasing a house seems to get more and more complicated each year. Knowing how much deposit you need will make it far easier to get your home loan approved and buy your investment property in Australia.
Why is Subject to Finance Important in Australia
Property sales contracts in Australia are typically subject to finance. But, what does this mean? And, do you need it? Many people advise against including finance clauses in the sale contract. However, the condition might save you from being locked into a purchase you cannot afford.
Use Equity to Your Advantage to Buy Property in Australia
Access the equity in your current home to buy another property with little to no deposit. Free up your cash flow and achieve all your financial goals.