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Reasons Your Home Loan May Be Declined: Uncommon Pitfalls to Avoid

Why has My Home Loan been declined? Navigating the path to home ownership can be as complex as it is exciting. While most prospective buyers are aware of the common reasons a mortgage application might be declined – such as a low credit score or insufficient income – there are lesser-known pitfalls that can also derail your home-buying journey. Understanding these can be the key to not only securing your mortgage but also ensuring you get the best possible terms. [...]

Reasons Your Home Loan May Be Declined: Uncommon Pitfalls to Avoid2024-01-10T10:38:29+11:00

What is the minimum credit score for a Home Loan in Australia?

Get Your Credit Score Up As High As You Can When lenders begin the process of determining whether or not they will give you a loan, they will first do an analysis of your credit score. Part of this analysis is to run a credit history report. Even if you already own a home and think you no longer need to worry about your credit, there may come a time when you need to refinance your current loan for [...]

What is the minimum credit score for a Home Loan in Australia?2023-09-19T09:28:16+10:00

Home Loans for Older Borrowers

Home Loans for Older Borrowers in Australia Applying for home loans for older borrowers is always challenging especially when the loan term exceeds retirement age. Although it is illegal for lenders to discriminate based on age when granting a mortgage most Lenders have restrictions. Mortgage eligibility is not determined solely based on age; rather, lenders consider a variety of factors when evaluating mortgage applications. Here are some key points to consider when applying for home loans for older borrowers: [...]

Home Loans for Older Borrowers2023-07-25T10:16:51+10:00

Non Conforming Home Loans and Mortgages in Australia

Non Conforming Home Loans and Mortgages in Australia Non conforming home loans are basically defined as finance for those people who may be in unusual situations with how their income is paid or how they wish to finance their home loan or mortgage. Non conforming home loan borrowers are also people who may have been previously rejected for a home loan for a number of reasons such as bad credit history, bankruptcy or unusual incomes (more information on non [...]

Non Conforming Home Loans and Mortgages in Australia2023-05-31T09:38:14+10:00

Home Loans for Older Persons or Borrowers

Can you get a Home Loan if You are an Older Borrower? Home Loans for Older Borrowers: It is true that some lenders in Australia may have (unofficial) age restrictions when it comes to lending to older borrowers. However, there are still lenders who are willing to offer home loans for older borrowers as long as there is a clear exit strategy in place to repay the loan. What is an Exit Strategy for an Older Borrower? An exit [...]

Home Loans for Older Persons or Borrowers2023-06-10T12:05:58+10:00

Understanding Non Conforming Home Loans

What are Non Conforming Home Loans? Non Conforming Home Loans are for people at certain times of their life that find themselves in financial hardship due to unfortunate circumstances. Before long they fall behind on their house or car repayments, are unable to pay the credit card bills, or struggle with other commitments such as council or water rates which can result in a writ or court judgment filed against them and listed on their personal credit report. Non [...]

Understanding Non Conforming Home Loans2023-06-11T11:17:01+10:00

Home Loans For All Employment Types

You can still get a Home Loan with Non Standard Income / Employment Despite a changing workforce with a diversity of employment types, banks are still very conservative. Lending polices are increasingly tougher and this is making it more difficult than ever to obtain a home loan. Traditionally, banks saw individuals that worked a 9-5 job in a high demand industry as low risk borrowers, however the work force is changing at a rapid pace. Some of the highest [...]

Home Loans For All Employment Types2023-06-11T11:48:21+10:00

Probation Home Loans – How to Get Approved!

Can I get a Home Loan while on Probation? Probation home loans are required as it is now more common within many public and private employment sectors for new Employees to be on a Probation Period. It allows your employer to review your performance within a company before rewarding you with a full time position. Equally, you can also assess whether or not you like your new job before making a commitment under contract. There are many advantageous aspects [...]

Probation Home Loans – How to Get Approved!2023-06-12T09:02:15+10:00

Can You Get a Home Loan Without Genuine Savings?

Are there Lenders that don't require Genuine Savings? During the global financial crisis, banks in Australia tightened up their lending policy with most requiring a 15% deposit minimum before they would lend. The deposit of 5% needed to come from a genuine savings source - that is, saved up or held in a bank account for 3 months minimum before the bank would lend. Recently though, policy has started to relax and home loans with lenders that don't require [...]

Can You Get a Home Loan Without Genuine Savings?2023-06-12T09:47:37+10:00

Can I Get a Home Loan for a Favourable Purchase?

Favourable Purchase: What is it? A favourable purchase is a lending term for a transaction where a property is sold privately and under "market value".  A private sale means without a real estate agent involved so generally the buyer and seller know each other. Under "market value" refers to the situation where the seller is not selling the home for what the property is worth and are therefore in essence gifting the purchaser equity. The best example is where [...]

Can I Get a Home Loan for a Favourable Purchase?2023-06-12T10:54:50+10:00
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