Understanding Home Loans

By 23 July 2015Education
Investment Lending Changes

Understanding Home Loans

When you start shopping around for a home loan, it’s important to think about how much you can repay without it affecting your lifestyle. Then once you have bought your property, you’ll need to consider your repayments and how you can start paying off your home loan sooner.

To help you get started, we’ve put together a few tips and tools, so you can do your research and start off the home buying process on the right foot.

Choosing the right loan

Whether you’re buying your first home, building or thinking about investing in property, finding a home loan that’s right for you is key.

To find a home loan that suits your individual needs and lifestyle, it’s important to think about your circumstances and options. The following questions can help you get started:

  • What sort of property do you want?
  • How much can you borrow?
  • What additional financial benefits do you require?
Paying off property sooner

When it comes to your home loan, it’s easy to feel out of control at times. But understanding exactly what you’re paying and when you’re paying it, is the first step to taking control again.

Once you know the ins and outs of your home loan, you’ll be in a much better position to start looking at ways to pay off your home loan sooner:

  • Increasing your repayments
  • Making more frequent repayments
  • Benefiting from low interest rates
  • Linking to offset accounts
  • Using your super lump sum to pay off your home loan
  • Consolidating your debt

To find out more speak to one of our home loan experts – Nathan Vecchio on 0410 000 689.

For more information on financial freedom and how to save for a home.

Mortgage Broker

Author Mortgage Broker

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