Cheap Home Loans
Australian Best Home Loans : cheap home loans, best home loans,
home loans
Cheap Home Loans
up to 1%
under
Bank
Standard Variable Rate !
How Much Can I Borrow
Documents Required
Mortgage Lenders
Mortgage Brokers
Real Estate Resources
Home Loans FAQ
Testimonials
News & Articles
Home Loan Blog
Site Map
Links
ASIC Mortgage Calculator
FAQs
What is a finance broker?
A finance broker is a person or an entity that has access to a variety of
financial institutions and providers (panel lenders).
Its job is to:
* understand the client's financial needs and position;
* search through products available to find the best deals;
* offer the selected options to the client and explain features and
advantages;
* assist in completing and lodging an application to the chosen lender;
* offer further assistance should the client have inquiries after the loan
settled
Should I choose a fixed or variable rate?
If you choose a variable rate loan, naturally the interest rate can rise or
fall depending upon the cost of funds and therefore your repayments will rise
or fall in line with rate movements. For many customers, the variable rate
loans are popular as a means of owning their home quickly. Extra payments can
be made at any time while also taking advantage of periods of low interest
rates.
Choosing a fixed rate loan means you can lock your interest in at a set rate
for a predefined number of years. So if you think interest rates have hit rock
bottom or that rates may rise you can add certainty to your loan by taking
this option.
Some borrowers like a bet each way. We can help you to fix a portion of your
loan and leave the remainder as variable. This way you get the best of both
worlds.
Can I get a home loan even if I have been declined by a bank?
Our Lenders understand that not everyone "fits the box" and have on offer a
flexible product range that caters to borrowers with unique situations. When
assessing any home loan application our most important consideration is
benefit to the borrower and their ability to repay the loan. Being declined by
a bank is not a ruling factor.
What’s Loan pre-approval?
Pre-approval generally means gaining an estimate from the lender of how much
you may be able to borrow, based on your financial circumstances.
Why should I get pre-approval for a loan?
If you want to buy a property, it makes sense to find out how much you can
borrow. If you apply for a loan and obtain "pre-approval", you will:
know how much you can afford
strengthen your position as a buyer
have a basis to compare different loans and make the best choice for you. And
that can mean tremendous savings over the life of the loan
It also makes sense to secure a lender's commitment as soon as you know that
you want to buy – especially in a hot market, when property is selling fast.
What is Lenders’ Mortgage Insurance?
Generally speaking, if you borrow more than 80% of the security property’s
value you will need to pay Mortgage Insurance. However Honey Home Loans also
have access to lenders that will lend up to 90% without mortgage insurance.
Lender’s Mortgage Insurance insures the lender against any loss incurred in
the event the security property is sold for less than the balance of the loan.
The borrower still remains legally responsible for repaying the shortfall.
The insurance premium is paid by the borrower at settlement or funding, from
the loan account.
Express Enquiry
