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OUR FREE SERVICE - There are loan solutions to suit your circumstances no matter whether you have bad (poor) credit or good credit rating, investor or a owner occupied buyer (include first home). Our commitment to you is that we analyze your existing finance strategies with a view to help you to obtain a better product. This may help you to select an appropriate loan to overcome your current difficulties. Where does Mortgage House get the Money from?We principally use the major banks as the wholesale channels that source wholesale Funds. Our branches are not limited to sell our products although we presume we have added value to our products. We have ACCESS to all major lenders. Tell us what you want, we can help you. Why should we come to Mortgage House?We open branches to serve you better when traditional bank close one that is near you. We believe you need a financial partner to deal daily. We will build a good relationship with you to satisfy all your financial needs. What is the lowest interest rate I could get?There are interest rates lower than approximately 1% of average variable rate (honeymoon rate). Any person under normal Full Doc criteria will be eligible for this. There are other attractive packages for professionals (Loan amounts over 500k) and lender may consider 0.7% off. Best answer to this question would be - your eligibility. Confidential analysis of your current financial situation will tell us what products available to you and related interest rate for each of them, this will enable you to pick your best. Which home loan ( mortgage ) is best for me ?You certainly have a lot of HOME LOANS to choose from. Fixed or variable? Principle and interest or Interest only or Line of credit mortgage facility. The loan satisfy your requirements best is the one for you. An independent home loan consultant is more likely to direct you to a correct lender as they have no special obligation towards one lender against the other. What is Full Doc Loan Application?A loan application that is supported by verifiable documentary proof. Since the risk is less on such loans, once 105% loans were possible on them. A comparable interest rates were lower as well. What is Lo Doc Loan?Normally customer has to submit proof of income a way of PAYG or Tax Returns. A self certification of income confirming an undertaking to repay and ability to do so is acceptable normally from self employed. A loan acceptable to a lender in this manner is called a Lo Doc Loan. What is No Doc Loan?No documents necessary to obtain this type of a loan. Since risk is high LVR on such loans may be lower, maximum 70% of security value. Also it will attract higher interest rates. What is L.V.R?L.V.R. when referred to a mortgage is the short form of Loan to Value Ratio. This is a ratio, expressed as a percentage, of the size of the mortgage loan required compared to the value of the property that you are contemplating to buy. less LVR will be a easy loan as there will be no mortgage insurer involved in decision making. Mortgage Insurance is necessary over 60% Lo Doc & 80% Full Doc LVR . Some banks may accept to Capitalize Mortgage Insurance, please find out your options from your consultant. When LVR is higher and if you have defaults to your credit history, you are expected to pay high interest on your LOAN, simply because Risk Factor associated with them are higher. How can I pay out my Mortgage Loan sooner ?There are ways that I know that will work to pay out your mortgage sooner.
What is a D.S.R. related to a mortgage? D.S.R. is the debt to service ratio. This is the ratio expressed as a percentage of the loan to determine an applicants ability to repay the subject home loan, based on their total income and commitments. This may vary from lender to lender who will have different methods and formulas to arrive at this. Normally total debt repayment to gross income 30-35% is a fair indicator of your loan serviceability but there could be variations applicable to each customer. Can someone with a bad credit history still get a loan at reasonable rates?As long as you are truthful with us (declare your position correctly), we will put our best to getting you a loan, regardless of your past credit history. Lenders have ways and means of checking, and the lenders need to know that whether you're likely to repay the loan. Risk to lender has strong relation ship to lenders return. As a result obviously you may have to pay a rate for higher risk initially for a qualifying period, then there is a good chance that your interest rate will be reduced to applicable variable rate. Advantage with a Non Bank Lender?They help you when you cannot meet major bank criteria to obtain your loan. Non bank lenders will have less criteria to qualify your loan. As a result, they may have loans specifically designed to those do not qualify for Bank Lending. You are expected to pay higher rates for these high risk products although most times they have competitive products where lender competition is high (some times similar rates from a bank). Please note, Banks are the last to close down in a crisis situation. In a CRISIS Banks buy loan portfolios from such Non Bank Lenders for cheap (ie, RAMS by Westpac ) but yet your loan will continue with such new buyers on same terms. Mortgage Sydney commercial mortgage loans Reverse mortgages Beecroft Epping Killara Pymble Chatswood Castle Hill Bella Vista Baulkham Hills Kellyville Rouse Hill West Pennant Hills Glenwood Quakers Hill Dural Cherrybrook
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