Top Three Tips For Investors
Investing in a property is a great way to accumulate more wealth. It can also be a good way to create a second stream of income for you which could go towards your superannuation fund.
Find out how much can I borrow?
The first step to acquiring any home loan is to find out your borrowing capacity. The process of acquiring an investment loan is similar to obtaining a home loan for your own residence.
Calculate the costs
Gaining a good understanding of all the costs involved in the home loan application process is the next step.
You can use an online home loan calculator to figure out costs such as stamp duty and other government charges.
Additionally you could contact a mortgage broker and he or she will be able to discuss the loan application fee, valuation costs, and lenders mortgage insurance.
Investigate investment loan options
Finally, searching through the home loans on the market is the next logical phase for you as an investor.
Finding the right mortgage can be made even easier by simply enlisting the help of a mortgage broker.
A broker can take your needs and requirements into consideration when they make suggestions about home loans on the market.