Finance
How to get the best home loan finance for your new home.
Australia has the most competitive home finance idustry anywhere in the World. So whether you go to your local bank, use a mortgage broker or use a securitised mortgage manager to get your funds to build your home, you will great a great deal.
Home Finance at the lowest interest rate
Most new home buyers assume that the lower the interest rate, the better the home loan. This only holds true if you believe that paying less per month on your mortgage is the best way to go and makes the loan rate the only criteria to use. This is not true in buying a new home, and its not rue for many in deciding on home loan finance either.
Construction loan finance
To make things even more complicated there are construction loans. These are the home loans that you start with when building a new home. What happens is that with a construction loan you only pay interest that is advanced to the home builder by progress payments. If you have decided to bundle your land in with the construction loan, then this rate would obviously be higher, but hey, you would be paying interest on this loan in any event.
The other thing that you must understand is that the bank is looking for security and will want to have the mortgage over your land to secure the advances it makes for the construction of the home.
The thing is that most banks tend to have better rates than mortgage securitisers when it comes to construction loans, so this may be the better way to get your financing arranged.
How we can help with new home finance
We are not mortgage brokers, but we do refer hone loan business to the Bank of Queensland. The Bank of Queensland does not as far as I know use mortgage brokers anymore to procure loan business.
Our home finance referral service is at no cost to you and could save you precious time to get to approval and settlement or drawdown.
Why we refer our clients to the Bank OF Queensland
The reason I refer people to the Bank of Queensland is that I have personal contacts in there that will get the finance approved in hours, not days and receive personal service for my clients all through the process.
Do The Bank of Queensland offer the best mortgage rates? No. They offer competitive rates and a better service, in my view, than most. But you can finance with anyone you.
Do you need to use my mortgage referral service? No. You are free to get your home financing though anyone you choose. Most people want to arrange their mortgage finance before they come to see HomeMate.
So we only offer our services to people who want us to arrange everthing, including finance for them, and people who may have been declined by their first choice lender.
The loan Types we can look after you with include:
- 100% home finance for first home buyers
- Lo doc loans for business people with 20% equity in the loan deal.
- Fixed rate and variable rate home loans.
- Professional packages.
- Investment loans
- Property development loans
- Home equity loans
- If you need to talk you us about at financing your new home, or a hous and land package, pleas call Rick Adlam now on 0413 268 166. Should I be unavailable please leave a brief message and your phone number and I shall get back to you as soon as I can.