First Home Buyers
Purchasing a property with a loved one can be a great way to enter to the property market, but taking on such a large financial responsibility with someone else does come with risks. These are some of the pros and cons to consider before you both sign your names on the contract.
Since its introduction in July 2000, the First Home Owner Grant (FHOG) has seen its fair share of adjustments, from a value increase, to the exclusion of individuals buying established homes. We take a state-by-state look at how eligibility is determined and how a broker’s assistance can streamline your application process.
The most important step you’ll need to undertake is to speak with an MFAA Approved Credit Adviser. Use the credit adviser search feature on the Essentials of Borrowing homepage to find an MFAA member in your area. After you’ve made an appointment make sure you listen to what they have to say, it may save you time and money.
Most people know that reducing their debts can increase their borrowing limit. But did you know that lowering your credit card limit can increase your borrowing capacity?
If you think you’ve found a home loan that sounds almost too good to be true, unfortunately, it probably is. Here we look at some of the traps you should look to avoid in taking out a mortgage.