Looking for a local mortgage broker that knows the Cooma and Snowy Monaro market?
HOME LOANS
First home or investment property? Fixed or variable rate? Should I get a package deal or just a basic low rate product?
What is my current borrowing power? Can I get pre-approval?
Will they accept my self employment income? What level of savings do I need?
What does LVR mean and why is it important?
Can I split my loan and have some fixed and some variable?
There is a lot to consider, get in touch for some preliminary advice to get you started.
WILL AN OFFSET ACCOUNT WORK FOR YOU?
Offset your loan balance with your savings
Have you heard of an offset account but never quite understood how they work?
Say you have a $400,000 home loan and you also have $50,000 in your savings account. If you have an offset account linked to your home loan, you will only pay interest on the net balance, in this case $350,000.
How does this help you? As you are being charged less interest, more of your repayment will go towards the principal amount of the loan meaning you will effectively pay off your home loan quicker!
Get in touch for a complimentary review of your situation now!
FIXED RATE MORTGAGE
Gives you that certainty
Is the certainty of a fixed rate important to you? A fixed rate is usually for between 1 - 5 years, set at a certain interest rate that will not change during that "fixed" period.
It’s easy to get lost while navigating all the different types of loans available. The Fixed Rate Mortgage could be the right one for you, but it’s important that clients understand all implications before signing something they could later regret. Contact me now in order to discuss the benefits and disadvantages, and together we’ll decide whether this is the right loan feature for you.
VARIABLE RATE MORTGAGE
Swings with the market
A variable rate is just that, when the Reserve Bank of Australia announces a rise or cut, you can be pretty certain that the banks will be watching closely and will increase or decrease their variable rates inline with the RBA. There are swings and roundabouts and it all depends on your needs, goals and objectives: what is important to you in a loan? Is the ability to make extra repayments at any time important to you? Would you like to take advantage of any future decreases to variable rates?
I’d be happy to discuss the details with you as to whether this would be a good fit for your needs.
