|
First Home Buyers Let Us Help You Structure Your Loan Correctly & Save!
Grants & Concessions for First Home Buyers As a first home buyer you are eligible to the first home owners grant providing you meet the criteria of the office of state revenue, you can find their link on our tools page, each state has variances, so once at our tools page be sure to choose the correct state. There are also substantial savings in Stamp duties, the combination of this may mean you do not need any deposit. Let us do a full assessment for free via our apply online link above, in the assessment you will learn what the costs are, your maximum borrowing capacity and your repayments (there is no cost for our service) there is no further obligation.
With property prices being so high these days it can be difficult for the first home owner to get started however; have a professional assisting you at this time will help you to know your choices and how to achieve buying your home. We have 100% loans and with this loan the first home buyers grant may be enough to cover costs however often there is a need to have some savings to contribute. Also available is the 106% loan, this loan covers everything including fees, the interest rate is about equivalent with the SVR (standard variable rate), the great advantage is you do not need any savings at all and this may get you into your home much faster. There is also the Family Equity loan, this loan is guaranteed by a family member or friend and can be taken up to 110% and requires a small mortgage on another property e.g., your parents to raise the deposit for your property. This loan can often save you on LMI (see below for further explanation), the person providing the guarantee is reassured that it is a limited guarantee as they are only responsible for the amount leveraged against their property if you were to default. There are still other ways, the best thing to do is speak with one of our consultants as they will help you find the best option for your circumstances. LMI or Lenders Mortgage Insurance LMI is an insurance the borrower pays when they do not have a 20% deposit. The insurance protects the lender not the borrower, if the person defaults and the lender suffers losses when selling the property, the insurer will pay the lender the difference after the property has been sold. They will then pursue the borrower for the difference and costs incurred. The benefit of the insurance is access to more money than you could otherwise have without a deposit, allowing you to move into your home quicker and possibly without any deposit at all. The insurance is a one of fee that can be capitalized onto the loan, there are ways to save on the LMI and some professionals can have it waved altogether contact us to find out more. The good news is that you do not have to come up with the LMI up front as the insurance can be added to your loan. See if we can not help you to save on Mortgage Insurance as there often is. The best way for the first home buyer Of course the best way is to speak with us and find out how much deposit you need to purchase a property, within a particular price range. You can then set yourself a target and plan to save your deposit, this also prepares you for commitment for when you have your mortgage. A further benefit of genuine savings is the Mortgage Insurance may be less if the insurer can see that you have genuine savings, as they may offer a discount in their premium saving you money.
Benefits of buying your home The benefits of buying your own home are you are not paying off some one else's house. Once you have paid your loan off, you can enjoy the benefits of not paying either banks or land lords. Even before it is paid off, providing you keep paying off the loan and or capital growth occurs you will gain equity that you can have access to for other purposes see our page on Equity loans.
Once you are in your home ways to reduce your mortgage
Acting as your Mortgage Adviser we can guide you throughout the process, often coordinating most of the services involved. We have found our customers have been grateful to know they have someone they can call any day or evening to discuss their concerns, apply below for a free online assessment. Copy Right Alpha Mortgage Solutions PTY LTD Brisbane, Queensland ABN 60 120 196 723
All information provided on the Alpha Mortgage Solutions website
is intended as general information only and is not provided as professional
advice. Alpha Mortgage Solutions does not warrant the accuracy or completeness
of information nor accepts liability for any actions taken by you or any another
party in connection with it. *Home Loan Types *No Deposit Loans *Bad Credit Loans *Mortgage Broker
Alpha Mortgage Solutions, home loans - first home buyers - cheap interest rates - home loan solutions - mortgage - no deposit loans - Brisbane, Queensland |
Stop Press - Personal Loans
Brisbane - Gold Coast - Sunshine Coast - Cairns - Townsville - Queensland
|
Loans
to meet your requirements
Once
you have your home there are ways to start reducing the loan from the word go,
such as making true fortnightly payments or, making over and above the minimal
amount. We can demonstrate this with our state of the art software with
graphs and comparisons, however it is up to you on how committed you are to how
successful this will be. Some choose to just allow the loan on taking its
course and spend more on their lifestyle allowing time and capital growth to
take to take its natural course.
