Do I need a deposit for my car loan?
If you’re hoping to get a loan for a property, it’s highly likely that a lender is going to require you to put down a deposit.
Fortunately, if you’re in the market for a new car, the requirement to come up with a deposit isn’t quite as strict. In fact, there are several options available to you, with some lenders prepared to lend more than 100% of the value of the car.
There will, however, be some situations where a lender will need you to put down a deposit, and this is often linked to your credit history.
How Much Can I Borrow with a Guarantor?
As house prices continue to rise across the country, getting into a new home can be tricky for first home buyers. Fortunately, if you’re able to get the help of a guarantor, it might mean you can get into a home of your own sooner rather than later.
A guarantor is normally a close family member; in most people’s cases, that means their parents. By using a guarantor to get a home loan, you can potentially put down a lower deposit. However, it doesn’t necessarily mean you will be able to borrow more money.
4 options to get on the property ladder sooner
While it would be nice if we could all go out and buy our dream home today, the reality is that it usually takes time to achieve our goals. The good thing is that even if you can’t quite afford your dream home right now, there are still other options to get onto the property ladder a lot sooner than most people think.
Here are four ways you can buy a property right now.
Advantages of Commercial Real Estate
Most Australians are familiar with investing in real estate and understand the value that a property portfolio can create over time.
However, few property investors venture outside the world of residential property and consider commercial property. While commercial property is a little more difficult to understand than residential, it offers several significant advantages for investors.
Why do people refinance?
In years gone by, homebuyers would stick with the same bank for the life of their home loan.
While this might be an easier option, you will likely end up paying far more in interest than you otherwise would, if you found a more competitive interest rate.
There are many reasons that people regularly refinance their home loans; doing so could benefit you in many ways.
How to fast-track your home loan application
One of the biggest mistakes new home buyers make is not having their finances organised prior to starting their search for a property.
Many people assume that if one has a good income, a home loan is simple to get. Unfortunately, there are a number of steps in the process, and it often takes many weeks or even months to get everything formally approved.
By far, the best option is to seek pre-approval before even starting the search for a new home. A pre-approval will allow you to know exactly how much you can spend and give you confidence that your loan application has a high chance of success when the time comes.
However, there are still several steps you can take to fast-track the home loan application process, whether that’s pre-approval or unconditional approval.