For many Australians, homes are their most valuable asset. This is why buying home insurance protection is so important. This insurance pays to repair damage to a property from an unexpected disaster like a fire, burglary, or lightning strike. Before buying a new home, there are a few home insurance considerations to keep in mind. [...] Continue Reading...
Getting a loan to buy a home in Australia can feel like a frustrating experience – often because banks use varying criteria in their decision to offer you a loan, and the process itself is full of insider lingo and a complex jumble of legal steps.
The first step to preparing yourself for getting a home loan is to be informed about the process and what will be expected of you. Here’s what you need to know.
First, the deposit. It trumps all.
The deposit you’re able to make on your home loan really cascades down to many other decisions. For example, if you have a low income or have had credit problems in the past, a large down payment can ease those problems. High deposits can mean low interest rates and faster decisions from the bank to loan you the money. [more...]