Dreaming of your New Home?
Home Loan Solutions
Having the right loan can save you a lot of money…lucky you have us to guide you.
Applying for a home loan can be a complicated process. What features do you need? Is variable or fixed rate a better option? Should I have a home loan package? There are so many choices.
At Advance, our promise is to be right by your side every step of the way, from preparing your application right through to the settlement of your new home or investment property.
We take the time to understand your needs and get the right solution for you, every time.
First Home Buyers
Are you a first home buyer looking to enter the property market, but not sure where to start? There are so many different boxes to tick when applying for a home loan and the process can be quite daunting. It is an exciting time choosing your first home, so let us share it with you. We can guide you through the application process and find a home loan that is just the right fit for you.
We work with our clients to establish and expand their investment property portfolio by offering funding solutions that are aligned to your property wealth strategies. Banks have two main criteria; equity and affordability. Do you have sufficient equity in your current property to cover the deposit and costs on another one, AND can you afford another property? Let us do the number crunching to determine if an investment property is achievable for you.
Is your interest rate still competitive? When did you last review your home loan? Would you like to install a pool, a new kitchen, or perhaps renovate? We have access to a wide range of bank and non-bank lenders, and we work to ensure our customers are getting the best deal on their mortgage.
We can help put the smile back on your dial. If you are struggling to meet your current mortgage, credit card, personal loan and other commitments, we can help! Our non-bank lender panel offer a wide range of home loan options that are not a ‘one size fits all’ solution. We work hard to assist our customers in reducing mortgage stress.
Having finance previously approved allows you to make an offer on a property when you want. This often could be the difference between securing your dream home or having it slip through your fingers. A pre-approval allows you to actively browse the property market knowing that your finance is ready to go when you are.
Home loans…are not forever.
Paying your home loan off quickly is the key to wealth creation.
Non tax deductable debt is not good debt. Credit cards and personal loans are financial cancer and will eat away at your prosperity. It is easy to build wealth if you minimise your debt exposure. Start by building equity, this will create opportunities so your wealth building strategy can commence.
Here are a few tips to repay your loan as quickly as possible.
Make payments more frequent.
Interest on home loans is calculated daily and charged monthly. Consider making payments more frequently, this can help reduce the interest you pay over the term of your loan.
Use your redraw facility.
Deposit lump sum amounts into your loan when you can, as this amount will come off your principle and therefore will reduce the amount of interest charged.
Consider a 100% offset account.
An offset account is a transactional savings account linked to your home loan. When interest on your home loan is calculated, the balance of your offset account is taken off the principal balance, thereby reducing the amount of interest that is applied to your principal. This effectively helps you pay off your home loan faster. Most offset accounts have an annual fee, we will always check if this is the right option for you.
E.g. You have a home loan of $380,000 with an interest rate of 4% and in your transactional offset account, you have $30,000. Therfore, you would be accruing interest on only $350,000 of your home loan, saving you $1,200 per annum in interest.
Set up a scheduled payment from your savings account. With a scheduled payment you are in control of finances by stopping and starting the extra payments when you want.
E.g. By paying an extra $200 a fortnight off a $380,000, 30 year home loan, you could save $93,187 in interest and 9.2 years off the term of the loan.
“Remember it is hard by the yard but a cinch by the inch”
We are easy to talk to and connect with. If you have an idea or scenario, we’re ready to listen. We strive to understand your vision, whether it be for business growth or family lifestyle.
Experience does count and we have it, awards too. We are experts in financial solutions. Let us search through the maze of lenders to provide you with the right solution.
Our team are reliable, trustworthy and can be counted on. Our objective is to create long and enriching relationships with our clients. We will be with you now, and into the future.
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