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FAQ
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How do you get paid ?Our service is totally free to you the client and we get paid directly from the lenders. This means that you can be sure that we are working for you . How much can I borrow ?This
depends on a number of factors, with our up to date software we are
able to determine your Borrowing capacity based on your current income
levels and taking in factors such as any current liabilities ( home
loans, Personal loans, credit cards etc). Another factor that will
effect the amount you can borrow is the valuation of the Property as
some lenders will lend to 100% of valuation.
Can I get the First Home Owners Grant?If
you are an Australian citizen or permanent resident and have not owned
property in Australia previously and intend living in the property for
a continous 6 months commencing within 12 months of completion of the
eligible transaction.
I am self employed but have not done my recent tax return can I still get a loan ?Lo
doc loans are specifically designed for self employed people who do not
have current financials or tax returns. Clients can self certify their
income and most lenders will lend to 80% under Lo Doc Policy.
I have a bad credit rating will any lenders look at me ?We
have lenders who will lend even if there are issues with your credit
rating, these loans are often referred to as Non Conforming Loans. The
lenders will charge a higher interest rate depending on the severity of
the credit history.
What is Mortgage Insurance?Mortgage Insurance is a fee that is charged by the lender when the borrowings exceed 80% of the property valuation. This fee is a one off cost at the commencement of the loan and the amount of the premium rises as the Loan to Value Ratio increases. Mortgage Insurance does not cover you for anything it is simply a risk fee charged by the lenderthat enables you to borrow above 80%. |
