Monday, January 10, 2005

No Deposit Home Loans in Australia

Australian No Deposit Home Loan Information: "Ideally, the individuals set to gain the most from this product have high incomes in industries with high job security. With this loan you are assuming that the benefits of immediate ownership and debt outweigh the costs of renting. This may not always be the case however. The risk to the lender is greater, therefore you will have to pay a premium interest rate for the privilege, usually about 2% higher than the current market rate.

With this is mind, it may be time to get out the old mortgage calculator and assess the long term financial gain or speak to a financial consultant to establish whether this is a sound option for you, and for many people it can be. Of course, there is no such thing as a free lunch and strictly speaking, no deposit means you still need enough money to cover initial expenses such as stamp duty, loan fees and mortgage insurance.

Read the whole article on our web-site - see link above. "

The Pros and Cons of Refinancing

The Pros and Cons of Refinancing: "Should I choose refinancing? You will need to assess your current mortgage and the changeover costs and savings to ascertain whether it will be of benefit to you. There are specific refinancing calculators that can help you determine the net gain. The best one that I have found is here As a rule of thumb many lenders advocate that a 1% gap between your current interest rate and a refinance rate makes refinance a worthwhile option. Always make sure to speak to a financial professional before deciding to refinance your mortgage. "


Informative mortgage related articles

"Mortgage Articles

The following mortgage articles are designed to fill in the gaps and expand on the information contained elsewhere on this web-site.

We will be continually adding to this collection of articles so be sure to check back often.

The articles are all written in an easy-to-understand style that should be enjoyable to read. The information is top quality and based on years of experience.

If you have any relevant questions where the answer could form a short article, or you would like to suggest topics for future articles, or even supply articles for us to use (we will include an authors resource box), you can write to us - (address on web-site).

However the information in the articles should not be construed as financial advice. Use it to increase your understanding and simplify the mortgage experience.

Be sure to consult with licensed financial advisors or mortgage brokers before making any final decisions."