Mortgage Broker in The Ponds, Kellyville, Rouse Hill and surrounding suburbs
I specialise in first home buyers, property investors and those wanting to refinance. If you are a first home buyer, I will educate you and guide you through the process from how to secure the right finance, what property you can afford and how much your repayments will be, I will maximise your borrowing capacity and get you a loan that will require as little deposit as possible if you don't have too much savings. For first time property investors, you will learn how you can use the equity from your current home as a deposit for your first investment property. For those with existing home loans and looking for a better rate, I will search from the thousands of home loan products from my panel of more than 30 lenders to find the most suitable loan product for you.
Buying a home is both exciting and stressful. It's a major decision and having a broker on your side will help you make an informed decision.
Are you self-employed but not sure if you're qualified for a home loan? Lenders have a different way of assessing the income of self-employed applicants. As a self-employed person, you can be classified as a full-doc applicant or a low-doc applicant.
Seven steps to buying your first investment property
WAYS FIRST HOME BUYERS CAN PURCHASE THEIR FIRST PROPERTY SOONER
As prices of properties in Australia have gone up, First Home Buyers are faced with the problem of saving the deposit to purchase their first home. So what are the ways First Home Buyers can purchase their first home sooner?
WHAT IS NON-GENUINE SAVINGS WITH RENTAL HISTORY?
Most lenders require at least a 5 percent deposit that has been saved for at least 3 months. This is referred to as genuine savings. If your 5 per cent deposit comes from a gift from your family, sale of an asset, bonus from work, a tax refund, sale of a car or an inheritance, you will need to have the fund sit in your account for 3 months to establish genuine savings. But what if you want to purchase a property today and the 3 months savings has not been established yet? The 5 per cent deposit is now classified as non-genuine savings. Fortunately, there are lenders in the market who will lend as long as the following guidelines are met. If you have been renting for the last 12 months, Westpac, St George and CBA will consider rental history as proof of genuine savings even if the 5% deposit has not been saved for 3 months. These lenders recognise the difficulty of you paying rent and saving at the same time. These lenders will require you to provide a tenant’s ledger showing 12 months of rent history therefore it is important that the property you are renting is managed by a licensed property manager. The loan can go up to 95 percent of the value of the home and loan mortgage insurance can be added on top of the loan only up to 97 per cent maximum.
WHAT IS FAMILY PLEDGE? First Home Buyers with no deposit can use their mum and dad to assist. Mum and Dad have a fully paid property in which they live in. Kids can get the 20% of their purchase plus the cost of stamp duty and other costs and fees related to the purchase from the equity of their parent’s home. The other 80% will be secured by the property the Kids are purchasing. It is important that the Kids are able to service the full 100 % of the loan. This scenario will save the First Home Buyer Kids the cost of Loan Mortgage Insurance which can amount to thousands. If the parents have a loan in their home, we can either get the loan of the kids from the same lender where the parents’ loan sits or bring the parents’ loan to another lender where the kids are borrowing to purchase their first home.