What’s the difference between an investment loan and an ordinary home loan? Most of the same types of home loans and loan features apply for investors as for owner occupiers. Some lenders may charge higher rates for investment properties if the associated risks are higher. Can I use equity in… Read more
My Story – (Part 1 of 2, Excerpt from ‘The 7 Easy Steps to Mortgage Freedom’)
At this stage I have a confession to make. When I started my company, Mortgage Australia, in 2000, I had no financial background whatsoever. My degree from the University of Western Australia was an Honours Degree in Psychology, followed by a couple of years at Curtin University of Technology doing… Read more
The most effective repayment strategies
Paying off more in your first year has the biggest impact It might seem strange, but in the first few years of your home loan, you usually just pay off interest and barely touch the amount that you borrowed in the first place. This means that the interest on your… Read more
Avoid becoming the subject of a home purchase horror story
We’ve all heard the horror stories of what can go wrong when purchasing a property. However, there are ways to ensure you are protected and know what you’re getting into when you purchase your home or investment: • Legal Advice It is recommended that you obtain legal advice before purchasing… Read more
My Story (Part 1 of 2, Excerpt from ‘The 7 Easy Steps to Mortgage Freedom’)
My Story – David Ham, founder of Mortgage Australia. Let me tell you a little about myself and how I got started. You will quickly see that if I was able to do this, you certainly will be able to. To take you back a fair way, my mother raised… Read more
Case Study: Smart use of your equity
Using your equity is the real key to racing towards mortgage freedom. If you have a property worth $500,000 on which you owe $150,000, you have equity of $350,000. Lenders will allow you to borrow using your equity as collateral. Most lenders will allow you to borrow as much as… Read more
What NOT to do before you apply for a mortgage
Long before you talk to a mortgage broker you need to start considering your finances and preparing them to apply for a mortgage. You may need to seek debt reduction advice and may need to adjust your finances to increase your ability to meet the anticipated payments, but there are… Read more
How to choose the right builder for your next home
Before you decide on the home you want to build, you need to decide which builder is right for you. Which builder is going to produce the best value home, matched closely to how you want to live? Building a home can be one of the most enjoyable things you… Read more