Contact us 02 8605 7787
Contact us 02 8605 7787
Whether you are a first homebuyer, seasoned investor, retiree wanting to investigate reverse mortgages, refinancing or simply looking for a new place to call home, we can help.
Often residential purchases can come with high emotion that can lead buyers into dangerous territory… that’s why it is great to work with Mortgage Masters Queensland. We take the anxiety and stress out of the lending process meaning you will always have the best product for you!
We offer all clients a free service across residential lending, investment lending & refinancing. It is our commitment to always find you the saving over the long-term.
Residential Loans include:
The interest rate varies throughout the loan term. These loans generally offer excellent flexibility, low fees and often offer great features such as an offset facility, redraw facility, no limits on additional repayments and in most cases, no early pay-out penalties.
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Basic variable loans typically offer lower interest rates and fewer features than the standard variable loans. You often have the option to pay for any additional feature required. Interest rates and repayments will vary throughout the loan term.
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An introductory rate loan generally offers a guaranteed low rate for an initial period of time (usually 12 months to 2 years) after which most will revert to the standard variable rate. The rate can be fixed or variable.
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Under a fixed rate loan, the interest rate is fixed for a specified period, usually between one and five years. This loan gives you the certainty of knowing exactly what your monthly repayments will be and peace of mind knowing the repayments won’t rise. However you won’t benefit if rates go down during the fixed term.
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A 100% offset loan is very similar to an all-in-one loan. Rather than putting all your salary and other income into your loan, it goes into an offset account that is directly linked to your home loan. Any balance in the offset account is 100% ‘offset’ against your home loan. This reduces the amount of interest you have to repay, making your money work harder for you.
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A line of credit loan provides you with access to the equity in your home or investment properties up to a pre-approved limit. You access the funds as you need to. The interest rate on a line of credit loan is usually a variable rate and repayments are interest only.
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A low documentation (or no documentation) loan is suited to investors or self-employed borrowers who do not meet the ‘standard’ lending criteria. This may include; those with an impaired credit history, those who are unable to provide the required documentation in support of their loan application.
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If you are building your own home or investment property, a construction loan may be suitable for you. This loan requires a fixed price building contract from a registered builder. These loans are usually interest only for the period of building and then become principal and interest once building is completed. A construction loan allows you to draw money as is required whilst building. Also, with the usual necessary documents required when applying for a loan, construction loans also require a ‘fixed price building contract’ and ‘council approved plans’.
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While purchasing your first home can be exciting and daunting; it can also be a steep learning curve. At Mortgage Masters Queensland, we make the process as simple as possible so that you can enjoy the experience and always have the information related to your Sunshine Coast home loan that you need to make the right decision.
Our friendly and professional home loan brokers will walk through the process with you every step of the way ensuring you know exactly what is happening and what you need to do! Education is your best friend in this process, so we have listed some key information you need to know!
With so many different home loan products on the market in Sunshine Coast, finding a home loan is not as simple as it used to be. There is a range of options available to you that may save you money, provide you with greater flexibility and peace of mind.
By understanding your specific needs and desires – now and in the future – our home loan brokers will identify the best product available for you and provide you with a range of suitable home loan options for your chosen Sunshine Coast property to save you time and money!
First Home Owners Grant – FHOG
Depending on your circumstances you may be entitled to one of the Government’s First Home Owners Grants that can range between $7000 – $25000.
Buying a home is typically the biggest financial decision you will make, and it is necessary that you have the correct information about loans and buying property. As your mortgage brokers, we will guide you and provide assistance on home loans and on how to buy a property to help you make the right decision.
Mortgage Masters Queensland is a friendly and experienced team of mortgage brokers here to help residents in Buderim, Sunshine Coast, Caloundra, Maroochydore and surrounds. We have assisted many first home buyers in Queensland for getting a home loan approved hassle-free. We understand that first home buyers are unsure and unaware of the process of getting your home loan approved. We will walk you through the complete process of home loan and assist in the following process:
We also help clients find the right solution for their personal and commercial finances.
What Should I Do Now?
To find out exactly how you can get into your first home sooner call us today!
How Do I Choose Which Home Is Best For Me?
When deciding on the area to live in, apart from considering proximity to family, friends and work commitments, you will obviously need to think about prices. Prices will vary greatly from suburb to suburb.
How Much Do I Need To Set Aside For Stamp Duty?
Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in.
How Much Do I Need To Save For A Deposit?
The amount you need as a deposit will depend on the type of home loan and the lender you select. Generally you will require a minimum of 5% of the property value.
What Will My Repayments Be?
Your repayments will vary depending on your borrowing amount, interest rate and lender. Am I Eligible For The First Home Owners Grant?This one-off grant is available to First Home Buyers intending to live in the home they are buying. Basically, you are eligible if you are an Australian citizen or a permanent resident who is buying or building your first home in Australia and intend to occupy it as your principal place of residence within 12 months of settlement. Note that if you are purchasing the property in conjunction with others, they must also meet the same criteria for the grant to be available.
How Much Can I Borrow?
How much you can borrow, also known as your borrowing capacity, will depend on how much of a deposit you have, your current income and what expense commitments you have. It will also vary from lender to lender.
Investing in property can be an effective strategy to build wealth. The tangible evidence of your investment coupled with the rental income and possible tax concessions provide investors with peace of mind making it an attractive investment option.
Using equity for investments
The equity in your home to finance an investment (property, shares etc) is a great way of putting your property to work for you. This will often be a more cost-effective option than taking out a personal loan if done correctly. The fastest way to understand the options you have available to you and how equity works is to contact us today!
When the return or income you receive from your rental property is less than the expenses of owning that property (interest on your loan, council rates etc) – the property is said to be negatively geared.
In some instances the Australian Taxation Office will allow this ‘loss’ incurred on the investment to be offset against your personal income, as a tax deduction.
Example:
Rent received - $9,000
Expenses incurred - $12,000
Loss which may be claimed as a tax deduction - $3,000
*Consult with your tax adviser to see how negative gearing can be applied to your personal situation.
The old adage that if an investment opportunity sounds too good to be true, it usually is – holds true. Always be sure to research your investment decision thoroughly. Be sure to seek independent property and financial advice.
If you are turning to property investment for capital growth, tax benefits and as a retirement strategy, it is very important to learn as much as you can, especially if you are looking to invest in an area you’re not completely familiar with.
All loan recommendations are based on listening to your needs, which are then analysed using advanced computer software; we then give you a short list of loans to choose from; this includes a comparison of any loans recommended, including the upfront and ongoing fees and the comparison rates. CPA Finance mortgage broker knows which lender can approve your loan. If you would like to find out more, please call us now at 02 8605 7787 or enquire online, and we will contact you as soon as possible.
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