• Email info@buildinoz.com.au

Tag: first home owners

WHAT IS LENDERS MORTGAGE INSURANCE AND SHOULD I USE IT?

As a rule, lenders mortgage insurance is required when you don’t have enough deposit, typically less than twenty per cent. Along with your deposit, most lenders will also expect to see proof of consistent savings for a period of at least six months. If you are required to pay LMI, the mortgage insurer may impose similar conditions. These conditions push a lot of borrowers, and particularly first home buyers, out of the market. So, what can you do?

Secrets of Building A Home – Don’t Wait Until You Can Afford The Dream Home

Rather than wait until you can afford to build your ‘ultimate dream home’, why not build a home that you can afford now and build the dream home later.  

SHOULD YOU USE A HOME LOAN OR A CONSTRUCTION LOAN WHEN BUILDING?

Should you use a home loan or a construction loan? The truth is you should use both. When you buy your land, you’ll purchase it using a home loan, but if you want to save thousands of dollars while your home is being built then you’ll want to take out a construction loan for the amount needed to build your home.

Should I use a Mortgage Broker to get my home loan?

A mortgage broker seeks, finds and compares home loan products from a vast pool of banks and lending institutions. They have access to the best deals currently being offered by the banks and will know where to look to find a solution that will be best suited to your needs. They are the go-between agent between the borrower and the lender.