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By Shane | Building , Fundamentals , Home Loans , Interest Rates
Home Construction Loans allows a new home to be built through the term of construction. It is based on the time needed to build a home, and it usually ranges from 6 months to a year. Once your construction loan is approved, your lender will pay your builder every period, after work is completed. As soon as the home construction ends, your loan repayment begins.
Most first home buyers prefer having their home construction loan be combined with their standard mortgage plan, into something termed as a construction-to-permanent loan. This avoids the need to refinance after construction and go through 2 different closings.
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By Shane | Fundamentals
Entrepreneurs are naturally ambitious and driven people. If you consider yourself an entrepreneur, you might feel like you already have enough on your plate and that you don’t have the time, money or capacity to seek out any investment opportunities. It doesn’t mean that you can’t invest in property. As long as you consider the following four factors, you won’t regret making the decision.
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By Shane | Fundamentals
The property market is a quagmire, fraught with pitfalls that can render any investment decision a poor one. As a buyer, you have to make sense of the different types of mortgage interest rates and home loans are available and know which one will be most favourable to your current financial situation. It can be a nightmare to make sense of without a qualified and experienced mortgage broker at your side. Asking the right questions will ensure that you find the most suitable mortgage broker in Liverpool for your needs. Use these four questions to help guide your decision.
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By Shane | Fundamentals
Investing in something that creates passive income is becoming a common practice in Australia. But, like all other investments, being objective about the property or home renovation project you want to take on will help increase your chances of success.
With this in mind, let’s take a look at 8 key performance indicators you’ll want to look out for before you invest in a new house or home extension.Continue reading
By Shane | Fundamentals
Since the Royal Commission kicked off in April banks & lenders have really cracked down on documentation requirements for all home loan applications. This means that you may be asked to provide a Letter Of Employment for a mortgage application.
In this blog, I will walk you through all you need to know about home loan employment confirmation letters and I’ll even give you a template.Continue reading
By Shane | Fundamentals
Property investors often choose to set the repayments for their investment loans to ‘interest only’ repayments. An interest only repayment means you pay only the interest due each month, but you aren’t paying down the loan balance.
By comparison, a principal and interest repayment is made up of a portion that covers the interest due and a portion that pays down the loan balance a bit with each payment made.
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By Shane | Fundamentals
The savings that could be achieved by using these home loans for professionals could potentially be tens of thousands of dollars. I don’t know about you, but I prefer to see more money in your pocket, rather than in banks coffers. Continue reading
By Shane | Fundamentals
For years now, I have used a five-minute phone call that has saved me thousands of dollars. In this post, I want to share with you how you could do the same…
By Shane | Fundamentals , Interest Rates
Westpac kicked it off… the dreaded out of cycle interest rate increase.
They raised the interest rates on their variable mortgages a few weeks ago, which surprised many since interest rate increases from the banks usually coincide with the Reserve Bank of Australia (RBA) increasing rates.Continue reading