The Credit Score Blog
A blog about mortgages, loans, interest rates, tips and tricks.
$15,000 HomeBuilder grant deadline fast approaching
Thinking of building, buying a new home or renovating?
The HomeBuilder scheme ends on March 31, which means you’ve got less than two weeks to take advantage of the $15,000 grant.
Bank makes it harder for investors to secure loans
Bank makes it harder for investors to secure loans Following on from yesterdays post about Owner-occupiers getting cheaper loans than investors, today there is an article in Mortgage Business around Bank West tightening the lending criteria to investors by placing an...
Cheaper Interest Rates for Owner Occuiper Purchases
Owner-occupiers may get cheaper loans than investors due to APRA cap Article in todays SMH looking at the changing landscape for Investor Loans compared to Home Loans for owner occupiers. Facing new rules on lending to investors, banks are set to fight hard for...
How to Decode a Property Advertisement
A coastal Queensland property, recently listed for almost $900,000, offered ‘a rare opportunity’ with ‘endless possibilities’. ‘The property holds very strong bones and really is the perfect blank canvas’, according to the advertisement. Translation: Perhaps it’s...
The Loan Approval
Congratulations, the home loan for your dream home has been approved. Shortly after you receive verbal confirmation of the loan approval you will receive an approval letter and the loan contract. Unfortunately at this stage there is still a couple of steps that need...
Credit History
Your credit history will include your: full name; date of birth; driver's licence; gender; residential addresses; and employment information. The credit information which may be recorded on your credit history will include: credit applications made in the past five...
How do lenders assess your loan application?
You have found your dream home, you (or your broker) have completed the application and you have provided all of the relevant documentation to support the application. What now? How does your preferred lender assess your application, how do they make the decision to...
Managing Your Home Loan
Control your home loan, rather than let it control you Proactively managing your home loan can help you navigate through a potentially difficult and stressful environment. With the price of the average home seemingly beyond reach, most would-be home buyers feel like...
Getting Pre-Approved for your Home Loan
Continuing our look into the Home Loan process, this week we are going to have a look at Home Loan Pre-Approvals. What are pre-approvals, how do you apply, why and when would you use them? What are Home Loan Pre-Approvals? The Home Loan Pre-Approval means that your...
Buying a home – the other costs
Continuing our look at the Home Loan Process, this week we are going to look at the range of costs that are invloved with purchasing your new home and arranging finance. It is quite possible that the Other Costs can end up being 5% to 10% of the property value. The...
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