Home Loan Basics 101

Looking for home loans in Sydney? We aim to compare and select best mortgages. Low doc or bad credit does not matter. A cheap rate loan you could payoff quickly is our choice. We are flexible to offer you what you need, cheap mortgage refinance will help you save money.

Looking for home loans in Sydney? We compare and select best mortgages @ cheapest rates. Low doc or bad credit does not matter. A loan you could payoff quickly is our choice. We are flexible to offer you what you need, cheap mortgage refinance will help you save money.

Some lenders offer home owners loans with high loan to value ratio. They believe a mortgage on a property is a better security to hold than any other asset.
Supply and demand of houses will impact the value of security held by a lender. They will therefore offer loans to those who has a stable employment history and who could afford a loan to avoid a market crash.
Sydney Home Mortgage Loans offer all type of mortgages. They have experience to assess your requirement and to apply their knowledge to overcome your barriers, resulting best outcome for you.

A customer with full income disclosure will request for a full doc home loan. You need 2 years of stable income as per tax returns. Also you need to prove you are still in employment by producing last 3 payslips. Self employed with tax returns will use BAS or Accountant’s certification to prove current income.

A Self employed with no tax return is more also can apply for home mortgages. It is hard to assess their income level which may fluctuate frequently. If they are ABN holders with GST registration, a lender may consider them for a mortgage based on BAS, a low doc loan. Legal requirement for BAS is over $75000 annual income. Therefore some clients may not fill BAS periodically. Such customers can prove income by showing Bank Account, yet some may confirm income by Accountant’s certification or Self Certification. Some lenders may not accept income proof using high risk methods while some do. We deal with many banks & private mortgage lenders that help us to cater variety of customers Australia wide.

Major Banks and a several small lenders do not offer you loans if your credit file is not satisfactory. Please visit www.mycreditfile.com.au to find your details. Then there are other private lenders who will offer you a bad credit loan and will charge extra fees against the additional risk. Higher the LVR more will be the fees and interest rates. We deal with both types of mortgage lenders. There are lenders who may overlook small paid defaults.

Home loan broker will find best mortgage for you. They also have access to car loans and other type of funding. MFAA registered brokers are qualified. They have many years experience to compare mortgages and to select cheapest. Home loan brokers work under Australian Credit Licence issued and monitored by ASIC. Please be feel free to CONTACT US.
A mortgage lender will also look for what other attributes will minimise their risk. Certain areas are very popular among customers. There is a good chance the property will be sold quickly for a reasonable price in such suburbs. That is where they like to have more home loan customers. Then if something go wrong in the area, all properties will get affected with that, so they will always maintain a balance. Normally high LVR is allocated to certain type of suburbs and certain type of houses only.

Now you will understand why lower LVR applies to small apartments, commercial properties and rural homes. They take long time to sell, lenders like to recover quickly. Unless you have a substantial amount of money towards your asset, this type of property is not for you.

You may be thorough with loan process now. Please be confident to speak to one of our consultant and obtain your 95% home loan, bad credit Home mortgage, low doc mortgage loan or any other, we are here to see your success. We also deal with caveat loans but currently they are only income generating purpose, for investors.