1 / 2

different loan types

When youu2019re looking for a new home you probably have a good idea of what youu2019re looking for u2013 what it looks like, what size it is, even where itu2019s located, maybe even right down the street. But when it comes to a loan, where do you start? There are hundreds of loans from a huge choice of lenders. And there are new products coming into the market all the time.

Ethan12
Download Presentation

different loan types

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ABOUTHOMELOANSCALCULATORSTIPS&GUIDES NEWSCONTACTBOOKANAPPOINTMENT FINANCEBROKERS Home.’Diff=.ienLoanTypes newhomeoranewloan.Which iseasier Contactusnow tofind? Contactusnow1800262346 AMAFinanceBrokers12-14StirlingHighwayNedlands WA6009 ABN:27113 446861 Whenyou'relookingforanew homeyouprobablyhave agoodideaofwhatyourelookingfor—whatitlookslike. whatsizeitis.evenwhereit'slocated,maybeevenrightdownthestreet.Butwhenitcomestoaloan.wheredoyoustart? Therearehundredsofloansfromahugechoiceoflenders.And therearenewproductscomingintothemarketall thetime. Asabroker,ourjobistohelpyoufindoneloanoutofthehundredsavailable thatsuityourindividualneeds.What'smore,weIIhelpmanagethewholeprocessfor you.WeIIassistyouwiththepaperwork.andmanagetheapplicationprocessright throughtoapproval. Need moreinfo? Ofcourse,withallloanproducts.thereareprosandcons. soit'sagoodideatogetfamiliarwiththedifferentloantypes.Here saquicklookatthemaintypesofloansandsomeoftheiradvantagesanddisadvantages. TypicalLoanFeatures ExplainingTheLoanProcess Checklistof LoanDocuments ExclusiveCashbackOffer Variable StandardvariableloansarethemostpopularhomeloaninAustralia.Interestratesgoup ordown overthelifeoftheloandependingontheofficialratesetbythe ReserveBankofAustralia andfunding costsandtheindividualdecisionsof eachlender.Yourregularrepaymentsgenerallypayoffboththeinterestandsomeof the principal. Youmayalsobeabletochooseabasicvariableloan.whichoffersadiscountedinterestratebuthasfewerloanfeatures,suchas aredrawfacilityandrepaymentflexibility. • Cons • Ifinterestratesrise.thesizeofyour repaymentswilltoo. • Increasedloanrepaymentsduetoraterisescouldimpactyourhouseholdbudget.somakesureyoutakepotentialinterestratehikes intoaccountwhenworkingouthow muchmoneytoborrow. • Youneedtobedisciplinedaroundthe redrawfacilityonastandardvariable loan.Ifyoudipintoittoooften.itwilltakemuchlongerandcost moretopayoffyourloan. • If youhaveabasicvariableloan.youmaynotbeabletopayitoffquickerorgetaccessto moneyyouhavealreadyrepaidifyoueverneedit. • Pros • Ifinterestratesfall. thesize ofyour minimumrepaymentswilltoo. • Standardvariableloansgenerallyallowyoutomakeextrarepayments.EvensmalIextrapaymentscancutthelenhandcostofyourmortgage. • Basic variableloansoftendon'tcomewitharedrawfacility.removingthetemptationtospendmoney youvealreadypaidoffyourloan. Fixed SplitRateLoansInterestOnlyLineofCredit Introductory/Honeymoon LowDoc

  2. Needahomeloan? Whateveryour circumstances,wewill lookforloanthat'srighIforyou,notthelender.Sendthrougha

More Related