There are different types of mortgage finance solutions available for those who need it. Make sure to choose the right one that suits your requirements depending upon your circumstances. And should you need help, you can always reach out to our experts to discuss the best mortgage solutions available to you. Here are some possibilities that you could look at.
Bridging Loan: Apply for a bridging loan when you still haven't sold your existing property but are scouring the market looking for a new one. It is a short term loan that helps you navigate through the cumbersome spell between buying and selling the property. Get this when you are transitioning from your old home to a new one.
Fixed vs. Variable: Those who think they feel secure predicting exactly how much their repayments will be must choose the fixed home loan solution. With this, you get to lock in your interest rate at the time of settlement. Whether the rates move up or down, the lender cannot make any modifications, and your outgoings remain the same. The interest rates against variable home loans fluctuate according to approximations made by the Reserve Bank of Australia. Though you cannot predict the repayment amount on a month on month basis, you definitely stand to benefit when the interest rate plummets.
Self-employed Home Loan: Getting mortgage finance when you are self-employed involves a few extra steps and paperwork. You will have to provide your tax assessment notices along with proof of tax returns, Profit and Loss, balance sheet and bank statements.
Refinance Personal Loans: Apply for a new loan and use these funds to pay off an older debt against current interest rates and terms. Refinancing is a good option, especially if your credit scores have improved, or when you wish to switch a different type of rates or when interest rates have dipped.
Experts at Fastgrow Finance are always available to help you. Speak to us for some of the best mortgage finance recommendations for your dream home.
Our friendly team can help find the right loan for your situation. Get in touch to organise a free, no obligation appointment to discuss how we can help.