Buying A Home Is One Of The Most Important Decisions You’ll Make In Life
Buying property can be exciting and daunting at the same time. We’re here to help to ensure you’re armed with the right information to help you make the right decisions. We have access to hundreds of loans from a wide variety of lenders and will work with you to find the loan that suits your individual circumstances.
Take a look at our online calculators. This will help give you an idea of the amount you may be able to borrow and what the likely repayments may be. Once you have an idea of your options, give us a call or email us and we’ll continue the legwork for you and arrange a time to meet to present the right options in detail.
The different types of loans
There are literally hundreds of home loans available, with new products emerging all the time. As a broker we can help you find a loan that suits your particular needs, help you complete the paperwork, professionally package it with your supporting documents and submit it to your chosen lender. You can read in detail about the advantages of different products on our Different Loan Types page.
Thank you so much for all of your hard work organising our mortgages (and driving all the way to our Guildford house – twice) We really appreciate it as it wasn’t the most straight forward for you.
Lucy and Lyndon Nilsson
Our dealings with Bev was a stress free experience. After dealings with another bank that was stressful I would always refer Bev as a broker.
Rebecca guided us through a complex loan application, and was available at all times to any our queries and concerns. Thanks to her diligence and persistence, we are now settled in our new home. We highly recommend Rebecca Little and Finance Corp for all your financial matters. Thanks again Rebecca.
The Gray Family
Always felt like we were in touch and kept in the loop as to where our finance and applications were at. Sharon even answered my phone calls and questions when on Annual Leave, it wasn't a problem for her.
I enjoyed our overall experience and felt very comfortable throughout the entire process.
Bev was always efficient, quick to respond to any questions we had and would take the time to explain things further. She was always friendly, patient and professional and worked hard to find the best mortgage rates for us.
Bev was very helpful and professional in finding and organising a lender for me. Very stress free for myself.
Laura was an absolute pleasure to deal with, and incredibly helpful throughout the whole process of obtaining finance and settlement for our home. I cannot fault her service in any way, and wouldn't hesitate to recommend her to anyone.
Bev was a delight to deal with. Professional, courteous and friendly at all times. I would highly recommend Bev to anyone seeking a loan approval.
How much money can I borrow?
We’re all unique when it comes to our finances and borrowing needs. Get an estimate on how much you could borrow with our Home Loan Quote in 30 seconds. Or contact us today, we can help with calculations based on your circumstances.
How do I choose the loan that’s right for me?
Our guides to loan types and features will help you learn about the main options available. There are hundreds of different home loans available, so talk to us today.
How much do I need for a deposit?
Usually between 5% – 10% of the value of a property, which you pay when signing a Contract of Sale. Speak with us to discuss your options for a deposit. You may be able to borrow against the equity in your existing home or an investment property.
How much will regular repayments be?
Go to our Repayment Calculator for an estimate. Because there so many different loan products, some with lower introductory rates, talk to us today about the deals currently available, we’ll find the right loan set-up for you.
How often do I make home loan repayments — weekly, fortnightly or monthly?
Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan.
What fees/costs should I budget for?
There are a number of fees involved when buying a property. To avoid any surprises, the list below sets out all of the usual costs:
- Stamp Duty — This is the big one. All other costs are relatively small by comparison. Stamp duty rates vary between state and territory governments and also depend on the value of the property you buy. You may also have to pay stamp duty on the mortgage itself. To find out your total Stamp Duty charge, visit our Stamp Duty Calculator.
- Legal/conveyancing fees — Generally around $1,000 – $1500, these fees cover all the legal rigour around your property purchase, including title searches.
- Building inspection — This should be carried out by a qualified expert, such as a structural engineer, before you purchase the property. Your Contract of Sale should be subject to the building inspection, so if there are any structural problems you have the option to withdraw from the purchase without any significant financial penalties. A building inspection and report can cost up to $1,000, depending on the size of the property. Your conveyancer will usually arrange this inspection, and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).
- Pest inspection — Also to be carried out before purchase to ensure the property is free of problems, such as white ants. Your Contract of Sale should be subject to the pest inspection, so if any unwanted crawlies are found you may have the option to withdraw from the purchase without any significant financial penalties. Allow up to $500 depending on the size of the property. Your real estate agent or conveyancer may arrange this inspection, and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).
- Lender costs — Most lenders charge establishment fees to help cover the costs of their own valuation as well as administration fees. We will let you know what your lender charges but allow about $600 to $800.
- Moving costs — Don’t forget to factor in the cost of a removalist if you plan on using one.
- Mortgage Insurance costs — If you borrow more than 80% of the purchase price of the property, you’ll also need to pay Lender Mortgage Insurance. You may also choose to take out Mortgage Protection Insurance. If you buy a strata title, regular strata fees are payable.
- Ongoing costs — You will need to include council and water rates along with regular loan repayments. It is important to also take out building insurance and contents insurance. Your lender will probably require a minimum sum insured for the building to cover the loan, but make sure you actually take out enough building insurance to cover what it would cost if you had to rebuild. Likewise, make sure you have enough contents cover should you need to replace everything if the worst happens.