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Homeownership has been both important and attainable for Australians. As property values rise and wages decline, saving up cash for a twenty percent home loan deposit or down payment, interest rates and other added fees have rapidly become more difficult everyday for Australian citizens. Many are stuck in renting their homes, spending the equal amount...

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Your credit score and credit history has an important role in your chance of getting a home mortgage. Mortgage lenders utilise your credit standing to weigh your risk as a borrower and the lower your score history, the riskier you are to most lenders. To protect from this risk, lenders charge a higher interest rate...

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Mortgage points are also known as discount points. They are fees a homebuyer pays directly to the lender getting reduced interest rate in return. This is also called “buying down the rate.” Basically, the borrower pays some interest in advance with an exchange of a lower interest rate over the length of your loan. Each...

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A good credit score gives chances for premium credit cards, good loan products and more advantageous interest rates. But if you have a bad credit score, you’ll get eliminated on these deals and pay a lot higher in interest on credit cards, loans and mortgages. A bad credit score can make life complicated for a...

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It’s true that there is a lot to check when looking for the best home loan rate. The number one priority should be avoiding mortgage stress. The consequence of getting a mortgage is serious. While incurring a lot of financial penalties, there is the possibility of losing the house you’ve been paying for and not...

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What is Home Equity? It is the difference between the total amount you owe on a mortgage and what the home’s value is. It’s actually what you can say you own in a home. The sum of equity in a house can increase as time goes by while you make payments and the property’s value...

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Are you ready to buy your first home in Sydney but uncertain how to make it more affordable? The First Home Buyer Scheme in Sydney offers needed financial assistance to eligible buyers like grants, tax exemptions and reductions, and a First Home Guarantee. The NSW government has several first home buyers schemes and each of...

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This is why, with the ever-growing Sydney real estate market, householders have increasingly needed to contemplate refinancing their home loans. Therefore, according to the fluctuating interest rates and a vibrant property sector, refinancing can be used as a method of cutting down monthly payments, shortening loan terms or enabling homeowners to have access to equity...

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A variable interest rate loan is a loan which the interest rate being charged on the outstanding balance depends as market interest rates change. The interest being charged on a variable interest rate loan is connected to a very important factor which is the federal funds rate. Your payments will vary as a result. Pros...