If you are buying your first home, you may be eligible for the First Home Owner Grant (FHOG). The FHOG was introduced by the Federal Government to assist first home buyers by offsetting the impact of the Goods and Services Tax (GST) introduced in June 2000. When you apply for a home loan, as part..
The better prepared you are for your loan application, the quicker you will get an answer from your lender. Complete documentation also helps in getting a Yes, instead of a No. So, here’s a list of the must have: Identification: A certified copy of a photo ID document such as a Driver’s..
Home loan glossary This glossary is supplied to help you understand the “jargon” often used in the banking/lending industry. Home loan term(s) Description Application fee A fee paid by a borrower for setting up a loan. Approval in principle(or pre approval) Initial app..
A drop in fixed rates by a number of banks and lenders has increased the number of borrowers who are fixing their home loans If you decide to do the same, make sure you are fixing for all the right reasons not just the lure of a cheap rate. Be fully informed of the implications of locking into a fix..