Buying or Investing

Refinancing

Equity Release

Consolidate your debts

Buying or Investing

Whether you are contemplating your next home for owner occupation, purchasing your first investment property or looking to increase your property investment portfolio, Customers First Mortgages & Insurances understands choosing the right Home Loan is just as important as finding the right property to live or invest in.

Investment Home Loans are designed to meet your investment goals. These loans allow great flexibility and give you the opportunity to choose from variable of fixed rates and interest only or principal & interest repayments, or a combination of each.

With Investment Home Loans, the loan can be set up to suit your individual property investment and wealth creation plans.

For any other enquiries on Home Loans for purchasing or investment needs, please do not hesitate to contact us by phone or email or simply request our staff to give you a call back.

Refinancing

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With an increasingly large number of home loans available today, along with a changing economy and interest rate uncertainty, your current loan may not be as suitable to you today as it was when you first obtained it. It could be that the interest rate has changed or your existing loan isn’t meeting your current needs. Whatever your situation, Customers First Mortgages & Insurance can help you find a loan that will suit you better.

Refinancing your mortgage allows you to change your home loan to suit your current circumstances more appropriately. This change can often provide a number of other benefits. For instance, refinancing your loan may let you access home equity, pay a lower interest rate, consolidate your debts into one low repayment, pay off your mortgage faster, and/or have access to better/flexible features.

If there has been a change in your individual status or financial circumstances from the time of obtaining your current home loan, or you are unhappy with the features of your current home loan and / or paying a non-competitive interest rate, it might be time for you to refinance your mortgage.

Simply put, refinancing is taking out a new loan to pay out your current home loan and altering your mortgage to suit your changed needs or new circumstances. The reasons for refinancing differ from one individual to another, though in general a refinancing occurs to obtain a lower interest rate, pay off debt faster, consolidate existing debts, obtain a more suitable lender to gain flexibility, or change from a variable to a fixed rate.

Refinancing for a Better Rate

It is important to consider all the pros and cons of refinancing to determine if refinancing will meet your changed needs and satisfy your new requirements. Some factors to consider are;

  • Preliminary calculations of refinancing (e.g. payout and discharge costs of the existing loan),
  • Upfront and ongoing fees of the new loan,
  • Lenders Mortgage Insurance premium (if applicable), and
  • Other features of the new loan such as interest rate, redraw availability and lender services.

When considering these factors, it is important to keep in mind the objective you originally had for refinancing to make sure the change provides value for your situation. We will assist you in understanding the features of any new loan you seek and fully explain the refinancing process.

Unlock your equity to improve your property or invest in another

If you have owned your own property for some time and currently considering investing in another, it may be possible to use the equity in your property to contribute to your next purchase. In all likelihood, the value of your current property would have increased over time and this, combined with the repayments you have been making, should mean there is some equity available that can be unlocked. Unlocking and using your equity offers home owners the potential to build wealth and improve their lifestyle now, and into the future.

What is Equity ?

Simply put, equity is the value of your current property minus your loan against the property. For example, if your property is valued at $600,000 and you owe $250,000 on your home loan, you have $350,000 in equity. Generally, equity increases over time as your property grows in value and the debt against the property reduces through regular repayments.

How can you use your equity ?

Depending on your financial circumstances, you may be able to use the equity in your home to create or build your investment portfolio or to enhance your lifestyle. You may even use your equity for personal use.

If you have anymore questions regarding how to unlock and access your equity, give us a call.

Consolidating Your Debts

Debt consolidation is a process of combining all your debts into one single debt. Consolidating your debts will often provide you with a lower interest rate, meaning your monthly repayment will be reduced thus saving money monthly and easing your family budget.

For any other enquiries on Home Loans for refinancing, debt consolidation or equity unlock please do not hesitate to contact us by phone or email or simply request our staff to give you a call back.

Customer Information Form

Download our Customer Information Form. This Form will take no more than 10 minutes to complete.

 

Please return completed forms by email to

info@customers1st.com.au

This will allow our consultants to perform a complete analysis of your borrowing capacity and provide appropriate advice for your personal circumstances.

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Just call us on 1300 275 536