Bond Applications
Buying a home is exciting, but can also be a time of anxiety and apprehension. Whether you are buying a home for the first time or thinking about a second home, you're bound to have some questions.
Even if you've done it before, It's always a good idea to plan ahead and make your moving experience easier. Before beginning the search for your new home you should find out the home loan amount you qualify for.
Once you have an indication of the amount you will be eligible to borrow and you will be able to begin the search for your new home with confidence. The interactive calculators will help you make the best decision. The Affordability Calculator will help you assess how much home you can afford and what your monthly instalments will be.
The Bond Registration and Transfer Cost Calculator allows you to calculate the 'hidden costs' associated with home financing and their impact on the final loan amount you require.
When it comes to home financing, there are a variety of Home Loan Options and Interest Rate Options to choose from.
How do you find the loan that's best for you? Browse through these options online, or complete our Call Me to have an experienced consultant contact you.
It's as easy as 1-2-3!
1. Determine how much you can afford
2. Find out which interest rate option suits you best
3. Apply online
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Interest rates options
Variable Rate:
Description
If interest rates rise or drop, the borrowers home loan rate will rise of fall accordingly. This facility is taken up when the borrower believes interest rates are falling and is not too concerned about rising interest rates.
Advantages
A lower initial interest rate as the risk to the lender is less. You can borrow more.
Disadvantages
The interest rate might go up.
Fixed Rate:
Description
Regardless of whether variable rate home loan rates rise of fall, the fixed interest rate for the agreed period will continue to apply.
Advantages
There is no risk that your payments will go up during the chosen period. It is easier to budget. Peace of mind.
Disadvantages
Higher initial interest rate due to greater risk borne by the lender. Harder to qualify for, as initial instalments are higher. Should this option be terminated before the expiry date, an additional finance charge will be levied by the lender.
Step-down / Reducing rate:
Description
Regardless of whether the home loan interest rate rises or falls, the reducing rate option will apply for the agreed period (usually less than 5 years). This facility agrees that your interest rate will decrease by a set percentage every three to six months for the agreed period.
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