What is a home loan?
A home loan, or mortgage, is a loan advanced to you by a lender in order for you to buy a property. The home loan is secured against your property, so if you can’t continue to pay the loan, your lender may require you to sell the property to settle the debt.
Typically, a home loan will be over a 25 or 30-year loan term, with regular repayment amounts that you pay fortnightly or monthly to pay off the loan over the contracted term.
There are three basic home loan model:
- First Home Owner Loans Let us guide you here and get you your approval so you can purchase your first home with confidence. We work with you throughout the entire process.
- Self-Employed Loans Running your own business shouldn’t get in the way of plans to buy a home. Often, there are more hoops to jump through, often because lenders may regard self-employment as higher risk.We’ll help find the best fit for your circumstances
- Refinancing You could be looking to see if there are better rate options out there, or you may be looking to release some equity in your home to improve the property or consolidate debt. We have a range of options for existing home owners. In a climate where servicing your loan top priority, we are able to navigate better options for you.