First Home Buyers - Aloha Mortgages

Tuesday, 13 August 2019 07:00

The Finance Broker Advantage

Brokers can help connect you to the lender better fit to serve your mortgage needs by shopping around on your behalf.

In order to decide whether or not to provide you with a loan, lenders will generally assess you against five qualities.

Thursday, 29 August 2019 06:57

How to avoid a loan default

Late payments and loan defaults leave marks on a credit history that can complicate any effort to refinance or secure a loan in the future. Default can also lead to a home being repossessed and sold by the lender, so it’s very important to act quickly to avoid it.

Wednesday, 04 September 2019 06:53

The significance of sorting out your finances

It’s easy to get carried away with the fun part of buying a property – looking at houses – but delaying the less compelling task of arranging finance will weaken your negotiating position on both the property and the loan.

Tuesday, 17 September 2019 06:49

What are the additional costs when purchasing a property?

Buying a property carries more costs than just the purchase price. In addition to moving costs, council rates, strata fees, renovations and furniture, homebuyers face additional fees to complete their property purchase.

How to buy without a 20% deposit

When you consider that a small flat in Sydney could set you back half a million dollars at the moment, saving a 20% deposit to buy that flat ($100,000) can seem an insurmountable task. That’s where insurance can help.

If you apply for a home loan, particularly if the loan is for more than 80 per cent of a property’s value, you’ll more than likely have to prove to lenders that you have a satisfactory amount of savings. This is to demonstrate your ability to funnel a portion of your income into repayments.

Although it can differ, in most cases lenders generally look for consistent additions to savings over a period of at least three months and preferably a year or more. This means that the following are not considered genuine savings: