{"id":71894,"date":"2018-11-14T18:11:31","date_gmt":"2018-11-14T07:11:31","guid":{"rendered":"https:\/\/propertynavigators.com.au\/?page_id=71894"},"modified":"2018-12-19T13:15:47","modified_gmt":"2018-12-19T02:15:47","slug":"home-loans","status":"publish","type":"page","link":"https:\/\/propertynavigators.com.au\/property-investor-resources\/home-loans\/","title":{"rendered":"Home Loans"},"content":{"rendered":"

[vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Seek expert financial help \u2013 Introducing Mortgage Navigators<\/h4>\n

Making a big financial decision requires proper preparation and planning, and Mortgage Navigators is the finance broker guide you need for success. Founded by George Massouridis in 1998, Mortgage Navigators has helped thousands of Sydney-siders with mortgage finance and this service is available to Property Navigators clients too. As George says, \u201cthe right home needs the right loan\u201d!<\/p>\n

Mortgage Navigators will research and carefully compare finance options from banks and lenders across the market to save you time, effort and money, Get a great home loan deal and get your finance approved FAST, with our Mortgage Navigators finance broker service.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_empty_space][vc_single_image image=”71895″ img_size=”full”][vc_column_text]<\/p>\n

Mortgage Navigators can help guide you through various finance solutions to meet your needs. They offer no obligation, free consultations.\u00a0You can Contact Mortgage Navigators<\/a> or call them directly on\u00a01300 134 898.<\/strong><\/p><\/blockquote>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column][vc_column_text]<\/p>\n

Types of Home Loans<\/h3>\n

There are many mortgage options available for you to fund your investing in property. The first thing you need, is to know what\u2019s available so you can pick the type of loan that suits you best. Whether you are a investor, first time borrower or homeowner, there is one that fits your needs.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Standard Variable Loan<\/h4>\n

[\/vc_column_text][vc_column_text]This must be one of the most popular and typical type of home loan in the country. The loan has standard variable rate, which is dependent on the movement of the official cash rate set by Reserve Bank of Australia.<\/p>\n

Advantages<\/strong>: flexible, repayments go down when interest rates fall, most lenders allow extra repayments and access to line of credit facilities.<\/p>\n

Disadvantages<\/strong>: repayments go up when interest rates rise.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Basic Variable Loan<\/h4>\n

[\/vc_column_text][vc_column_text]This type of loan generally offers a lower interest rate than the standard variable loan. However, it also offers lesser features and you need to pay for any additional features that you require.<\/p>\n

Advantages:<\/strong>\u00a0lower interest rate and lower repayments.<\/p>\n

Disadvantages:<\/strong>\u00a0lesser features and flexibility.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Honeymoon Loan<\/h4>\n

[\/vc_column_text][vc_column_text]If you want lower initial repayments for your loan, the honeymoon loan gives a discount usually on the first year. The lender usually offers a guaranteed low rate for such period, which can be fixed or variable. Once you\u2019re done on the \u2018honeymoon\u2019 period, the loan will revert to the standard variable rate.<\/p>\n

Advantages:<\/strong>\u00a0generally offers the lowest rates, lower repayments during the \u2018honeymoon\u2019 period.<\/p>\n

Disadvantages:<\/strong>\u00a0you will be transferred to higher variable rate after the \u2018honeymoon\u2019 period.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Fixed Rate Loan<\/h4>\n

[\/vc_column_text][vc_column_text]Borrowers who don\u2019t want to be exposed to interest rate changes and want to know exactly how much they are going to pay usually go for fixed rate loans. This type of loan allows you to have your interest rate fixed at a specified period, such as one or five years.<\/p>\n

Advantages:<\/strong>\u00a0your repayments won\u2019t vary, even if interest rate rises.<\/p>\n

Disadvantages:<\/strong>\u00a0making additional repayments may mean having to pay penalty fees, you can\u2019t take advantage if interest rates fall.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Line of Credit Loan<\/h4>\n

[\/vc_column_text][vc_column_text]This type of loan allows you to access the equity in your home or other properties you own up to a certain limit, which is pre-approved. Most of the time, a line of credit loan\u2019s interest rate is set to a variable rate and you pay repayments that are interest only.<\/p>\n

Advantages:<\/strong>\u00a0interest rates are usually lower than a regular personal loan or credit card, flexibility of using the money when you need it and paying it when you can.<\/p>\n

Disadvantages:<\/strong>\u00a0if not carefully handled, the equity in your home can be reduced.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Low-Doc and Credit Impaired Loan<\/h4>\n

[\/vc_column_text][vc_column_text]If you are worried that you don\u2019t meet the requirements of the lender, you can always apply for a low-doc or credit-impaired loan. This type of loan is perfect for people who have impaired credit history, self-employed, and those who wish to borrow more than 100% of the value of the property.<\/p>\n

Advantages:<\/strong>\u00a0simple documentation requirements, can have different features like variable or fixed rate options, line of credit, redraw, etc.<\/p>\n

Disadvantages<\/strong>: usually have higher interest rate.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][vc_column width=”1\/2″][vc_separator color=”#ededed” type=”full_width” thickness=”2″ up=”” down=”” el_class=”dotted”][\/vc_column][\/vc_row][vc_row equal_height=”yes” content_placement=”middle” type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Construction Loan<\/h4>\n

[\/vc_column_text][vc_column_text]A construction loan allows you to draw amounts, as you need it. With other home loans, you will get the loan amount as a lump sum, which means you will also need to start paying interest for the entire amount. With a construction loan, you will only get the money you need for each building stage. It starts with interest only repayments and when the building is complete, the repayments become principal and interest.<\/p>\n

Advantages<\/strong>: interest savings, draw money when you need it, additional payments can be made, pay interest only during the construction period.<\/p>\n

Disadvantages<\/strong>: it is a variable loan which means repayments go up when interest rate rises, requires a fixed price before construction (not flexible).[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Mortgage Navigators can help guide you through various finance solutions to meet your needs. They offer no obligation, free consultations.\u00a0You can Contact Mortgage Navigators<\/a> or call them directly on\u00a01300 134 898.<\/strong><\/p><\/blockquote>\n

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[vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1\/2″][vc_column_text] Seek expert financial help \u2013 Introducing Mortgage Navigators Making a big financial decision requires proper preparation and planning, and Mortgage Navigators is the finance broker guide you need for success. Founded by George Massouridis in 1998, Mortgage Navigators has helped thousands of Sydney-siders with mortgage finance and this service is…Read More→<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":71297,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-full-width.php","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"acf":[],"yoast_head":"\nHome Loan Brokers Sydney - Property Navigators<\/title>\n<meta name=\"description\" content=\"Mortgage Navigators are the home loan brokers Sydney residents & investors love! 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