Find the mortgage or home loan that fits your needs in Australia

How do you make sure your investments are going to make you a profit before you buy? Everyone wants to know how to pick a winner — whether it’s an investment, or a home to live in, Request your copy of Investing for the future now and discover how to make sure you’re not buying a property lemon.

Before you start looking for a home to buy, you should work with a broker to get pre-approved for a mortgage. Pre-approval is basically a promise from the lender that you’re qualified to borrow a certain amount from a bank. In the pre-approval process, your mortgage broker looks closely at your credit and verifies your income. Gold Coast mortgage broker then gives you a pre-approval letter, which says that your loan will be approved once you make a purchase offer on a home, and once you submit the following documents – the purchase contract, the preliminary title information, the appraisal, etc.

The credit-crunch has been a mixed blessing for borrowers. Millions of people with mortgages have benefited from record low interest rates, but the good times could be over. The average home loan interest rates have increased since March. With the reserve Bank already anticipating future increases. The repayment shock could be huge. This could not come at a worse time for some borrowers as unemployment is so high. In the first of a 10-part series, we look at how to recession-proof your mortgage. Never before has the time to re-access your mortgage been more important. With bank rates fluctuating accross the country this rapidly, now is the time to double check your mortgage ensuring you have the lowest interest rates and the get your money working for you, not the banks.

If you had a $200,000 mortgage and $25,000 in a linked savings account, you would pay interest only on $175,000. You would repay the mortgage two years and five months early, assuming a 25-year term and a rate of 3.5% — a $29,000 saving.

Offsets also let you have access to further funds without increasing your monthly repayments. Suppose you needed a mortgage of $180,000 but took out $200,000. You could place the additional $20,000 in the linked offset account. This maintains payments based on a $180,000 mortgage but gives you access to an extra $20,000 if you need it.

Order your free mortgage health check it takes minutes and could save you thousands or you can go for a Free Investment Property Report

This Report Contains:

1. Comparable housing sales
2. Your personally optimized investment loan package
3. Indicative weekly holding costs
4. Find out what interest rates are out there
5. Estimate rental yield and possible tax savings
6. Profit you could expect to see after 5, 10 or 20 years

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