Stacks Loan makes it easier to buy your first home sooner, with our flexible home loan products. You can borrow up to 95% of the property value.
We help to ensure you can afford the repayments and have funds to cover the transaction costs. We'll even help you with your First Home Owner Grant application!
Buying your first home is exciting and a little scary at the same time. Not only are you faced with the challenge of finding the right property to become your first home, but you also need to know you're getting the right first home loan.
First home buyers often want to know when the best time to buy is going to be. The answer is simple when you have a professional home loans lender. There is no right or wrong time to buy your first home - only the time that suits you and your circumstances.
Many would-be investors will try to time the market and buy at the bottom of the real estate cycle, looking for a bargain, but the truth is it makes no difference when you buy. The right time is when you feel you're ready to go out and buy your own home.
The Australian mortgage market can be a confusing maze of options, home loan interest rates and bank jargon that can be difficult for a first home buyer to navigate successfully, but you don't have to get through it on your own.
When it comes to finding the `best` first mortgage for you, it's important to remember that no two people have identical financial situations. Nobody else but you has your income, your expenses or your goals. This means that aiming at a mortgage that worked really well for a friend or family member of yours may be a terrible option for your own first home loan.
Always keep in mind that you should aim at finding a mortgage package that works best for your unique personal situation.
The First Home Owner's Grant is a great incentive offered by the Australia Federal Government to help you buy your first home. Both the Australian Federal Government and individual State Governments have allocated First Home Owner's Grant payments for people wanting to buy their first home.
As long as you meet the predetermined criteria set for eligibility, then you should receive your First Home Owner Grant.
Most Australian banks have scaled back the availability of no deposit home loans and 100% home loans. In certain circumstances, it is possible to buy your first home without needing a substantial deposit and some banks even allow you to put the funds from your First Home Owner Grant toward paying fees and charges associated with your home purchase.
The best way to check if you're able to begin searching for your first home is to contact a professional mortgage broker. You'll be helped to understand your full borrowing capacity, you'll know how much your repayments will be and, best of all, an Stacks Loan mortgage broker will make sure you're applying for the best possible first home loan to suit your needs and your goals.
Navigating the home buying process can be mind boggling, which is where your mortgage broker's help comes into play. Your mortgage broker should be able to field your questions and to help put your mind at ease.
Here's a small list of just a few questions you should ask your mortgage broker when purchasing your home.
Many home buyer's liken the home buying process to an inquest because of the large amount of documentation that is required. You can save yourself a considerable amount of time and confusion by asking your mortgage broker beforehand what documents you need to compile. The most common documentation includes proof of income, bank statements, and any loan documents from previous loans.
Time is of the essence when it comes to purchasing a home. Finding out how long the home loan process will take can help you adequately plan and save.
Buying a home costs more than just the amount of your loan. Closing costs and other fees can add up to extra expenses that you should be prepared to pay for. Asking what your costs are up-front can help you allocate your money accordingly.
Although mortgage interest rates fluctuate every day, your mortgage broker should be able to give you some sort of idea of what rate you can expect to pay, based on the type of loan you are applying for.
Your personal circumstances may entitle you to advantageous loan products. Also, your Stacks Loan Mortgage Broker will have access to loan products not available to the general public, by lenders directly. Your broker will discuss your options based on your individual circumstances and requirements.
Borrowers are sometimes charged a fee for paying off their loans early, particularly in fixed interest loans . It's important that you are made aware of any prepayment penalties before you sign off on any loan.
Feel free to ask your Stacks Loan mortgage broker any questions that you may have. It's only by asking questions that you are certain to get the peace of mind that you desire during your home buying process.
Stacks Loan is one of Australia's most respected mortgage brokers. We provide our clients with access to a large panel of lenders with an extensive range of home loan products. Many of these lenders are well-known banks, many others are household names who only lend through brokers; others still are specialist lenders who can meet diverse financial circumstances. Stacks Loan helps you make the right home or investment loan choice. Call us today 0430867786.