Your mortgage is most likely the largest burden to your budget. It is a debt that, if you are like most people, you would like to have it paid off as quickly as possible.
How Home Loan Applications are Assessed
Understanding how home loans are actually assessed will give you an advantage in getting yourself and your finances ready for a home loan. The 3 C’s of lending that you need to consider: Capacity Character and Collateral.
Home Loan Pre-Approval Explained
| Home Loan Pre-Approval Explained If you can't get the money - you can't but the home. Before you start looking for a home to buy, you need to know if you have a lender/bank who will lend you the money. You need to get a "Pre-Approval". First Things First FACT: Pre-Approval is not a [...]
Lenders Mortgage Insurance (L.M.I.) – Explained
| Lenders Mortgage Insurance (L.M.I.) - Explained L.M.I. is an insurance policy that your home loan lender takes out to protect themselves if you default on the loan. Lenders Mortgage Insurance is normally dependent on your “loan to value” ratio. Put simply – Your deposit amount in relation to the property value. You can easily [...]
Genuine Savings Explained
When applying for a home loan one of the important criteria a lender will ask for is a history of “Genuine Savings”. These are funds that you have gradually saved by yourself. It proves to the lender that you have the self discipline over time to save a certain amount. It helps them assess your capacity to make monthly loan repayments.
Home Equity Explained
| Home Equity Explained If you have been paying off your mortgage for a few years, you will most likely have built up some equity. Equity is the difference between the current value of your home and how much you owe on it. Your equity is probably your greatest asset. Refinancing is a common strategy [...]
Bank Valuation vs Market Value
A property can have 2 different valuations. A market valuation – This helps provide an indication of what the property may sell for. A Bank valuation is done by a lender to help determine their risks.
What Is A Mortgage Broker & Should You Use One?
| What Is A Mortgage Broker & Should You Use One? Mortgage brokers write over half of all home loans in Australia and growing. It is easy to see why. Mortgage brokers do most of the legwork for you, saving you going to all the lenders and comparing everything yourself. All you normally need to [...]
There are many unexpected expenses you need to be aware of when you decide to become a property investor.
Investing in property has many financial benefits. The purchase price of the investment property is where it starts. There are quite a few extra both upfront and ongoing costs involved.
What is Important when looking for an Investment Property
Investing in property should be about increasing your wealth and securing your financial future. Although it is often a less emotional process than purchasing a family home, there are many pitfalls and factors to consider when looking for a quality investment property.
How to Secure Your Lowest Home Loan Interest Rate
Everybody would like a lower interest rate. It can make a huge difference and save you many thousands that you pay over the life of your mortgage.
Fixed or Variable Rate Home Loan?
Deciding on your mortgage type and different options is one of the most important, if not confusing tasks of purchasing a home.
One very important factor is to choose between a fixed or a variable rate loan.
How important is Employment Status in Applying for a Mortgage
| How important is Employment Status in Applying for a Mortgage “Very Important” is the best answer to this question. Each lender will have their own criteria and each job can be uniquely different. There are some general criteria that apply to most lenders. You are definitely best to talk to a professional Mortgage Broker [...]
Disclaimer: Although all care is taken. We do not give any warranty whatsoever to the accuracy of any content. This is not meant to be financial or professional advice and is only of general nature. You must seek professional advice before taking any actions. The above information comes with no warranties whatsoever. We take no responsibility for any actions you may or may not take. All content is of general nature only and is NOT to be taken as advice whatsoever
0414 339 299
Sally Gillman is the owner of Shields Gillman Real Estate.
A Forest resident for almost two decades, Sally enjoys her involvement in the community and has a passion for the area, evidenced by the agencies’ ongoing sponsorship of the Forest Rugby team.
It was this passion that prompted her in 2014 to move her highly successful Eastern Suburbs agency of 20 years to Forestville and bring her considerable property expertise with her.
As a family owned business you can be assured that you’re always dealing with the business owner, you’re treated as a valuable client and receive the personal and professional service that we’re renowned for.