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Tips to finding a great home loan
Finding it difficult to choose the right home loan? visit eChoice today, they compare 25 of the major Australian lenders & thousands of products to help first home buyers find the right loan for their situation.
An eChoice home loan consultant can guide you through the process to make sure you get the support and service you require – It’s Online, Easy & Free to learn more – Click Here
Congratulations, you’re now serious about buying your first home or require a first mortgage for an investment property? As a first home buyer, you know it’s one of the most important decisions you can make in your life. Did you know that buying a home in Sydney, apartment in Melbourne or investment property in Brisbane is still more affordable than buying homes in Hong Kong or Singapore, Tokyo, and Beijing?
New home key Buying your first home accompanies new responsibilities and financial obligations. To assist you, we have outlined some of the steps in buying your first home.
How much can I borrow for my first home mortgage loan?
Using an online home loan calculator you will be asked to enter your monthly net salary and monthly expense payments – so be sure to have this information available. You may wish to total your monthly outgoing expenses with your partner as well.
How much deposit do I need for my first home loan?
With your first home buy, you will have to be prepared to make a deposit of usually from as low as 5% upwards to 25% of the purchase price.
Which first home loan type is best suited for me?
When you are searching for your first mortgage or home loan, you should also consider which type of home loan best suits you. You may wish to review the comprehensive home loans list and determine which type of home loan suits your financial situation the best.
Should I take out fixed or variable interest rate home loan?
This depends on many circumstances and we suggest you closely evaluate each home loan and the terms and conditions for the fixed or variable interest rates.
Where can I find a guide to interest rates?
For actual percentage rates, check with the home loan lenders such as eChoice. You can always pay more off your home loan to receive lower rates. It may not always be the best strategy to borrow as much as you can afford to when buying your first home!
How do I apply for the First Home Owners Grant?
The First Home Owners Grant is available in each state of Australia. Remember to check if you are eligible for a one time $7,000 payment when buying your first home. A list of helpful websites is listed on the top right of this page.
Should I contact an agency or search online for my first home?
Many people prefer an independent agency who can advise you on the purchasing process from finding the right home or investment property, determining the true market value to negotiating the best possible price or bidding on your behalf at auction.
Where can I find my first home?
You can now begin looking for your first home!
Good luck in buying your first home and be sure contact a reputable online home broker that specialises in home loans.
An eChoice home loan consultant can guide you through the process to make sure you get the support and service you require – It’s Online, Easy & Free to learn more – Click Here
