A home loan may be your biggest investment in your life. To ensure you get it set up correctly in the right structure you need to speak to a specialist mortgage broker at Jim’s Financial Services. We are very dilligent in capturing the right information from your ‘fact finder’ which will encompass what your lending capacity is and what amount you can service. Start putting your rental money into your asset rather that it going no-where. We also have access to lenders that will lend upto 95% LVR (loan to variable rate). This means if you can get into the market sooner. Ask us how.
How a home loan/mortgage works?
- Save a deposit: The more you save, the lower the amount you need to borrow and the less you will pay in interest over the life of the loan.
- Apply for a loan and get it approved: The lender approves the loan in principle, enabling you to look for a property within a set budget. Once you’ve decided on the loan amount, you’ll need to finalise the loan documents with your broker.
First Home Buyer
SO, YOU ARE A FIRST HOME BUYER?
First of all you need to start saving for your deposit. As little as 3 – 5% can get you into your first home. However you need to show that you really did save the money. We call it Genuine Savings and it means that we need to be able to prove that you put aside a bit of money each pay. This shows the lender that you can be trusted to pay them back and that you know how to budget. However, did you know that the rent you are paying in some circumstances can be claimed as genuine savings?
You will not doubt need more than 3 or 5 % savings so we can show you how you can use your first home buyers grant towards the deposit ( go to the department of justice, State Revenue Department in each state to find out what if anything you could be entitled to).
You might have a parent or a grandparent that can assist you. They don’t even necessarily have to give you cash it could be a guarantee of some equity from their home.
If you require any more information, don't hesitate, call us on 1300 799 010/131 546 or request a free enquiry!
A shared mortgage, or ‘shared property loan’ is a way for borrowers to jointly purchase a property while keeping their finances separate.
A shared mortgage can offer property joint-ownership through a loan that will cost an individual less than if they are repaying an individually financed loan.
A shared mortgage offers flexibility, so both parties can pay back the loan in a way that matches their respective contributions. In other words, if one party can contribute more to the deposit, their loan repayments will reflect that.
A shared mortgage would benefit anyone who wants to co-own a property. A shared mortgage could be an ideal way to get into the property market with far less pressure on the loan repayments.
Other useful things to help you:
FIRST STEPS TO START
Before we can start on your home loan, we must gather information to see how much you can loan to buy a house or an investment. A Jim’s Financial Services finance consultant should be your first contact point so we can point you in the right direction.
Our mortgage calculator will provide you with an indicative quote on purchasing a property. For a more accurate quotation, call Jim’s Financial Services on 1300 799 010 to speak to mortgage specialist.
There are so many ways to structure finance for your owner occupier property or investment property. We are all about strategy and we will assist in providing the best advice that suits you now and into your future.