The Benefits Of Using A Home Loan Calculator

Loans of any kind are one of the biggest sources of stress for anyone. Keeping up with them and getting them paid off can be incredibly daunting. All of the fine print and interest rates do very little to make it any easier. There may be none more important than a home loan, but fortunately there are home loan calculators to help you keep track of exactly what you need to pay and how long you’ll need to do so. With just a little information at the ready, you can greatly diminish the stressful nature of making sure your home loan payment is being dealt with properly.

First of all, these days there are plenty of home loan calculators available for download right on your phone or laptop. As long as you know your total amount owed, the interest rate, and the current term, you can simply plug them in and get immediate access to all of the pertinent details. Alongside simply knowing what you’re going to need to pay next, you’ll also be able to look at projections that will give you the full scope of the necessary expenses ahead of you as you continue to deal with your loan in the future. This is all literally a click away, and it allows you to know exactly what you’re dealing with at every turn.

The value of the detailed information possible with a loan calculator can’t possibly be over stated. The data available to you will allow you to check out a fully realized picture of your home’s affordability, the principal, interest, and even total paid and remaining amounts owed at any time, and how much you’ll actually spend should you opt for minimum payments vs speedier payment plans. You can even look at how the expenses look over a certain set of time. For instance, if you want the exact report of what you’ve paid for the last year compared to what you’re expected to pay over the next, it’s going to be right there for you to review.

Having ready access to all of this data regarding your home loan is simply invaluable. Never again will you be left in the dark on exactly where you stand and what you’re expected to pay at a given time. Once you have the full picture in front of you, you can also more easily prepare to start putting it all behind you once and for real.

That old saying about knowledge being power couldn’t possibly be truer when it comes to finance. If you know exactly what’s going on with the oft-stressful staples of home ownership like mortgages, it’s going to be considerably easier for you to meet the corresponding financial responsibilities. If you’ve been struggling to deal with your home loan payments for some time now, it’s time to give yourself the chance to finally see the finish line. Do yourself a favor and invest in a home loan calculator. Even if you only download a simple app, it cannot possibly be recommended enough.

Follow this link for a simple Home Loan Calculator.



admin / July 8, 2016 / Mortgage Brokers

Property Investment Loan Guide

property investment loans

Although property investment is among the most lucrative business opportunities that are available in today’s marketplace, it is one of the more complex ones as well.  Making property investments involves having to deal with many local lenders and financiers.  A majority of the time, you will need to deal with vendor financiers, bankers and venture capitalists who can offer you the most advantageous terms and conditions on a mortgage loan.  Those institutions will most likely fund your project completely or partially depending on what funds you are eligible for.  The following are some important tips for you to consider if you’re wanting to receive the best property investment loans on your projects.

The most critical thing is ensuring you have the right title on the property you are interested in purchasing.  As an investor, you must be able to prove to your lender that you own the land.  The title’s details are one of the more critical aspects when it comes to getting a property investment loan on a property.  The best thing to do is make sure the title is “clean” of any encumbrance ahead of time if you are planning on getting the best deal on the investment property.

Another important factor that needs to be considered if you want to get the best deal on your property investment loan is to enhance the property’s equity.  Property equity is the difference between the property’s real market value and any outstanding bank loans.  The more equity that you have in your property, the better your chances will be to get the best deal available in the marketplace.  It’s very important that you attempt to increase the amount of equity as much as you can before you apply to get an investment loan on your property.

Another prerequisite for getting the best deal in the marketplace when applying to get a property loan is to have an effective business proposal.  A solid business proposal will be able to convince your lender more than anything else can when it comes to what your requirements are.  Your proposal should discuss that nature of the business you are currently engaged in, like developing properties, developing property for leasing or renting, buying and selling property or developing property and then selling it. Potential investors want to know all about the staff capabilities, management skills and other important information regarding your business.

Another important aspect to securing a great property investment loan is the property’s location.  The bank is going to want to mitigate any risk they undertake through knowing that there will be a good return on investment on the property.  Your property’s location is critical when it comes to its ROI.  The lender is going to need to be able to easily sell the property should the borrow default on his loan repayment.  Therefore, your property’s location will determine how much liquidity risk there is.

You should not attempt to get 100% financing from a lender as a property owner.  You should have the ability to finance 20-25% at least of the total amount required on the loan amount.  Otherwise, the lender might have some concerns.  That’s another important factor that needs to be considered when you are planning on getting the best deal on a property investment loan.  The creditworthiness of the borrower plays an important role in getting the best deal.  Having a good long term reputation with your lender and having a good credit history are both important criteria anytime you are apply to get a property investment loan.  Don’t agree to a loan with the first banker you run into.  Be sure to shop around to get the best deal that you can in town before getting the property investment loan that best matches all of your needs.

Thank you to Darwin Mortgage Broker for the information. Please visit there site for more information on property investment loans in Darwin.

admin / April 13, 2016 / Property Investment Loans / 0 Comments

When Do you need a Mortgage Refinance

mortgage refinance

When do you require a mortgage refinance?

There are many scenarios for why you would need to refinance. You could be making a large purchase such as a car, boat or an investment loan. You may have had a change in health or your job situation or you may simply want to get a better deal. Let’s take a closer look at a few of the scenarios.

Refinancing to get a Lower Rate

As we grow older, we have the tendency to end up being more accountable. We get better at paying our bills on time. The longer and more consistently that you pay all of your debits including your mortgage and pills the better your credit rating becomes.

When you were quite young, it’s possible you took out your mortgage on your house. Either you didn’t have sufficient time to develop a good credit rating, or you were not able to develop it due to an absence of cash to pay costs. This most likely implies you were stuck with a high rate of interest.

Now that you’re older and have actually shown yourself to be more accountable, the bank that provided you your mortgage will provide you a rate of interest that’s may be lower than the one that you have now. This might conserve you hundreds, and perhaps even thousands of dollars a year.

Utilizing House Equity to Purchase That Vehicle or Boat You’ve Always Wanted?

Utilizing house equity to secure a loan can mean that you’re going to need to pay 2 payments monthly. Rather, your lender may settle the quantity you have actually left on the initial mortgage using a few of the money you’re obtaining. Because the cash you’re obtaining will be partially utilized to do this, will in fact be accountable for repaying more than the expense of the larger purchase.

Considerations prior to Refinancing

Nearly every mortgage agreement has a stipulation which specifies a charge for refinancing. Be sure to take any charge into factor to consider prior to choosing whether to do this. Where possible seek professional help from a mortgage broker or monetary advisor. They will be able to help you understand if there are any costs involved to refinance and can also give you guidance with achieving the best interest rate possible.

Mortgage Refinancing can work for a variety of reasons. If you are located on the Central Coast of NSW please visit us for more information on your Mortgage Refinancing needs.

admin / April 13, 2016 / Mortgage Refinancing / 1 Comment

Mortgage Comparison Advice


Mortgage Comparison Advice

Finding the right mortgage for your needs can be a very lengthy process but can save you potentially thousands of dollars. Doing a mortgage comparison on a variety of loan options can help to get the best deal that suits your needs. Here is an overview of some things you should consider with your mortgage comparison.

Choosing between Fixed or Variable Loans?

A fixed mortgage rate means that you are locked into a fixed interest rate. This can be fixed for a varying amount of time and this will affect the interest rate that you will be able to get. This can be an advantage when the interest rates are low and can be beneficial to know exactly what your payments will be for the length of the loan.

A variable rate can either go up or down until the loan is cleared. Most mortgage rates with adjustable interests start with a period of 7, 5 or 3 years as an introductory period.

During the introductory period the rate is fixed, after that period, they can change depending on various factors within the financial markets. Adjustable rates may offer lower interests but  you should consider whether the market is at a low point and if it is likely to rise. It is important to take an interest rate in too account before choosing either of the two. There are also some more sophisticated options on the market that allow you to fix a percentage of your loan whilst having the rest as variable.

Finding the best Rate that suits your needs

Although finding the lowest interest rate is vital you also need to consider other aspects of the loan for your personal needs. You want to consider the flexibility of your loan and find one that will allow you to make additional repayments when you have funds to do so and re-draw on that when you need to. There are constantly new loan products on the market and it is important to find one that has the features that suit your financial needs.

One of the main advantages to a mortgage broker is there access to many lenders. This makes the loans comparison process so much faster and easier. In addition to that it is not uncommon for a broker to get you a better deal than you would have been able to arrange yourself, their service are free to you and they have software that can electronically compare loans from a number of different lenders.

If you are in the Cairns region contact Cairns Mortgage Broker to find out more about loan comparisons.


admin / April 13, 2016 / Mortgage Comparisons / 0 Comments

Why NOT Using A Mortgage Broker Can Be The Worst Decision You Could Make

Mortgage Brokers

Buying a home is by far one of the most important purchases you’ll ever make. Most buyers spend weeks, maybe even months looking for the perfect house. But when it comes to financing that purchase, all too often, the buyers are willing to take the first loan that comes along.

This mistake can cost thousands of dollars in over paid fees and interest over the life of the loan.

Many buyers make the assumption that if they go into their local bank, they are more likely to get a loan approved because they are a current customer. They may think that local bank are faster. Both of these assumptions are also costly mistakes.

The truth is that a savvy buyer pays more attention to the loan than they do the house itself.

What options do buyers have? What is the difference between the local bank and a mortgage broker?

To sum it up, the difference is CHOICE and OPTIONS.

When you walk into a bank, whether it be a small credit union or a well known, nationwide bank, you are negotiating with one employee that is authorized to make you a mortgage offer. They’ll pull one credit report and decide whether they want to offer you a loan or not. If they choose to offer you a loan, they’ll most often give you one set of terms, and you can take it or leave it.

Mortgage brokers, on the other hand, do not work for a bank.

They work for you, the buyer.

Since mortgage brokers do not represent any one bank, this works in your best interests. How so?

Let’s take for example a buyer with a very good credit score and a down payment. A mortgage broker can shop around, so to say, for you, with literally dozens upon dozens of different banks, so that you get the best offer.

If your credit is not that great, you MUST use a mortgage broker! It would take you countless hours to go to all the local banks applying for a loan, not to mention it would pull your credit down even further with all of the credit inquires! In addition, you wouldn’t even know about nation wide banks that are willing to lend. However, armed with your mortgage broker, they can do all of the work for you, and your chances of getting a loan increase dramatically.

Why can we say the NOT using a mortgage broker could be the worst decision as you buy a home? Simply put, because you need to hire a broker to get you the best loan. You DON’T need a bank employee that represents the bank.

Using a mortgage broker will save you money, time, and frustration. And at the end of the day, you’ll be able to feel confident that you made the right choice.

admin / April 13, 2016 / Mortgage Brokers / 2 Comments

Top 10 Reasons To Use A Mortgage Broker

residential loans

Top 10 Reasons To Use A Mortgage Broker

Why do you need to use a mortgage broker when shopping for a home?

If you want to reduce the work and stress of obtaining a mortgage, save money and get a great deal, you should really consider hiring a mortgage broker. Here is a look at the top ten reasons why.

  1. Mortgage brokers are experts in their field and work on commissions that are paid by the lender. The better the deal, the more they make.
  2. When you visit a bank, you can only choose from the options they offer. Working with a mortgage broker gives you access to a whole network of lenders who will be competing to give you the best deal.
  3. A mortgage broker will work with you personally to make sure you get the deal that is best suited to your needs. You do not have to worry about having to settle for a “one size fits all” loan.
  4. Your broker works for you, not for a lender. You can feel confident that he is on your side and is always looking out for your best interests.
  5. Negotiating with a lender can be a nerve-wracking experience for most people. Brokers are used to negotiating, so they can haggle to get you a great deal.
  6. Lenders frequently offer deals and promotions that can save you a lot of money. A broker will be aware of these offers and can bring them to your attention.
  7. Working with a broker lets you pre-qualify for a loan so that you can lock in a favourable interest rate. This speeds up the process and can save you thousands of dollars.
  8. Unexpected obstacles can arise during the application process, and dealing with these can be tough. Your broker can help you avoid these obstacles or deal with them as quickly as possible.
  9. Every time you apply for a loan, your credit history is checked. Too many checks can actually lower your rating. With a broker, you only need to have your credit checked once, thereby preserving your excellent rating.
  10. Brokers are paid by the lender, not by you. You never have to worry about getting a bill from your broker, no matter how great a deal he finds you.

This has kindly been supplied by Mortgage Broker Central Coast. If you need help with a mortgage and are located on the Central Coast of NSW make sure you give them a call.


admin / April 13, 2016 / Residential Loans / 0 Comments