If you’re buying with less than a 20% deposit, you’ve probably heard about Lenders Mortgage Insurance (LMI). For many buyers, LMI sounds like a penalty. But in reality, it can be a strategic tool that helps you enter the property market sooner. What Is Lenders Mortgage Insurance? LMI is a one-off insurance premium that protects […]
Being self-employed does not prevent you from getting a home loan, but lenders assess business owners differently. How Do Lenders Assess Self-Employed Income? Most lenders require: • Two years of financial statements • Two years of tax returns • Notice of assessment Income is typically averaged over two years or based on the lower year. […]
Buying a home is one of the biggest financial decisions you’ll ever make — and for most people, the biggest hurdle is the deposit. You’ve probably heard you need a 20% deposit to buy a home. The reality? Many Australians buy with far less than that. How Much Is a Standard Deposit? Traditionally, lenders prefer […]
One of the first questions buyers ask is: How much can I borrow? Online calculators provide estimates, but lenders assess far more than just your income. What Determines How Much You Can Borrow? 1. Income Salary, bonuses, commissions, rental income, and self-employed income (usually averaged). 2. Living Expenses Lenders assess both your declared expenses and […]
Refinancing your home loan can save you money — but only if done strategically. 1. Your Interest Rate Is No Longer Competitive If your rate hasn’t been reviewed in 1–2 years, it may no longer be competitive. Even a small rate reduction can create meaningful savings over time. 2. Your Fixed Rate Is Expiring Before […]
