FAQs

This amount will vary based on the lender you choose to borrow from and factors such as your credit score, income, liabilities and living expense, as well as the type and purpose of the loan can determine the amount that can be borrowed.

Depending on the type of loan the interests is calculated based on aspects like the nature of the loan and the principal market interest rate, as well as the Reserve Bank of Australia’s cash rate set at the time. We will help you understand how and when interest is charged and accumulated on the loan, as well as work to find the best structure to minimize the long term interest you pay.

The length of time you choose to repay the loan is primarily determined by the lender you choose to borrow from. The rate of interests will vary based on how long you choose to repay. It is important to determine what a comfortable repayment amount is for you based on the debt’s you may incur along the way with your venture. Our staff can help you map out the most cost effective term to repay the loan.

Simply put, with a fixed rate mortgage, the amount you pay in interests remains the same over the entire course of the mortgage term. This is generally spread across 15 to 30 years. However, there are variations based on how you wish to repay, which can be discussed with us upon consultation.

With an adjustable rate mortgage, the amount paid on interests fluctuates based on the indexes. Due to the nature of this type of loan there are variations of this loan that can be altered over its term, you can discuss with us to get a better idea of what suits your particular situation.

Private mortgage insurance also noted as PMI is a policy in which the borrower is required to make a down payment to the lender if you have a conventional loan. Generally, the down payment is less than 20% of the home’s purchase price. speak with us to see what options are available that suit your individual circumstance