Navigating the world of mortgages can feel like learning a new language. There are so many terms and processes involved! To help simplify things, let's break down the ABCDs (and beyond!) of mortgage broking, giving you a clearer picture of what to expect.
Your budget should be based off your take home income, from your base pay–if you receive overtime or allowances try not to include this.
Being a homeowner, you'll now have new bills to pay that you’ve never had before. So, in your homeowner budget be sure to consider; internet, gas, electricity, council rates, body corporate fees, building insurance, transport costs (tolls, petrol, car service, rego) and the big one in these hard times…. FOOD!!
A pre-approval is a conditional approval granted by a lender that allows you to apply for a home loan up to a certain limit. It allows you to focus on your property search with a clear idea of affordability in mind. The document requirements are similar to full formal approvals as the lender must consider your income, current commitments such as other loans or credit cards, living expenses, deposit, and funds to complete the purchase.
We are now ready to re - commence our Social Prosperity drive again this financial year with our selected charitable partners being supported over the coming year.
Each month, TMFG donate a set amount from every client Home or Business Loan settled – all funds raised will be distributed equally across each of the following organisations:
Lender policies continue to change on a weekly basis. This year we have seen at least three out of cycle interest rate rises, particularly in the investor space, numerous policy changes around repayment choices and loan to value ratios, and the latest from some lenders - a loan to income ratio, introduced for interest only repayments.
Here we explore:
By Miklos Bolza
06 Jul 2017
The decision is part of the firm’s ongoing social prosperity campaign where $150 per settlement is donated to four different charities each year, she told Australian Broker. These are picked for their meaningful value to both clients and staff.
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