FutureNow Finance - Mortgage Brokers

04/07/2023

Phew! The RBA has today decided to put the official cash rate on hold. So is the end of this rate hike cycle finally in sight? 🤔

Phew! The Reserve Bank of Australia (RBA) has today decided to put the official cash rate on hold. So is the end of this rate hike cycle finally in sight? The decision to keep the official cash rate at 4.10% will be welcomed by homeowners around the country after monthly repayments increased by ...

29/06/2023

Gonna make a jailbreak … Are recently lowered serviceability thresholds the answer to busting out of your “mortgage prison?” ⛓️

Have you been keen to refinance but told you can’t? You’re not alone. Many Australian households are currently locked into their home loans due to rising interest rates. But some banks have recently started to lower their serviceability thresholds.  As interest rates have climbed, Australia ...

22/06/2023

Homebuying intentions have climbed despite interest rate hikes and rising living costs. So why are so many people still chasing the great Australian dream? 🤔 💭 🏡

Despite the soaring cost of living and successive interest rate hikes, homebuying intentions have climbed, latest data shows. So why are so many people still chasing the great Australian dream? And what can you do to make your own dream a reality? Despite a flurry of rate rises, new data this mo ...

14/06/2023

🏡 Single and under 30? You’re a great fit for the 5% deposit scheme 🙌⁣⁣
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Long gone are the days when you had to scrimp and save for a 20% deposit to buy your first home 🤔⁣⁣
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These days, you can crack the property market with just a 5% deposit and pay no lenders’ mortgage insurance (LMI), thanks to the federal government’s First Home Guarantee (FHG) scheme.⁣
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Recent data from the scheme* shows the majority of people who purchase their first home under the scheme are single buyers, of which:⁣
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- 52% are female and 48% are male.⁣
- The median age is 25 to 29 years olds.⁣
- The average loan size is $397,000.⁣
- Earn around $60-$80k per year.⁣
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Know anyone who might fit that bill and wants to escape the rental market? 🤔⁣
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Put them in touch with us before the next round of scheme spots become available on July 1. 😁⁣⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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* NHFIC⁣
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12/06/2023

👀 Keeping an eye on the property market? Prices are back on the rise 👀⁣
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Property prices had been declining in the wake of interest rate hikes. But early 2023 saw the start of an upswing. 📈⁣
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March PropTrack data showed a 0.13% increase in property prices. And CoreLogic data showed an increase of 0.6%. 🏠⁣
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Burgeoning property prices may mean increased equity for homeowners. Want to know how to unlock yours? Come and chat with us. 🗣⁣
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And if you’re in the market to buy… We’ve got tips to help you expand your borrowing power. ⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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*realestate.com.au & CoreLogic ⁣
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07/06/2023

🙌 Kick loyalty tax to the curb by refinancing your home loan 🙌
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Loyalty usually comes with rewards. But not always when it comes to home loans. 😒⁣
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Lenders often have enticing rates and features to woo new clients. But they’re rarely passed onto existing mortgagors.⁣
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But you can get cut in on these rates by refinancing your mortgage. 😎⁣
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And with a couple more rate hikes expected for 2023, landing a better rate through refinancing may potentially save you thousands. 💰⁣
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Speak to us today so we can help you find a better home loan rate.⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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06/06/2023

Drumroll… The RBA has hiked the official cash rate for the 12th time since April 2022, increasing it to 4.10%. How much will this increase your monthly repayments? And how long does Philip Lowe plan to keep marching to this beat? ⁣⁣🥁

Drumroll … The RBA has hiked the official cash rate for the 12th time since April 2022, increasing it to 4.10%. How much will this increase your monthly repayments? And how long does Philip Lowe plan to keep marching to this beat? Another month, another 25 basis point cash rate rise. It’s now ap...

05/06/2023

🧑‍🎓 Can your HECS-HELP debt affect your mortgage application? 🧑‍🎓⁣
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With HECS-HELP debts set to rise by 7.1% on June 1 this year (the biggest rise in decades), this is a question we've been getting lately.⁣
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The short answer is yes. ⁣
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Lenders will have a good look at your debts to assess your borrowing capacity and mortgage serviceability. 👀⁣
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Although, while paying down your HECS-HELP can improve your mortgage application, it can often be better to focus on higher interest-accruing debts first. 💳⁣
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Are you looking for an action plan to buy your first home? Get in touch with us today! 👇⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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31/05/2023

Australians are increasingly “thinking small” when it comes to buying a home and cracking the property market. And with perks like affordability, more desirable locations, and lower maintenance, it’s little wonder why. 🏘

Australians are increasingly “thinking small” when it comes to buying a home and cracking the property market. And with perks like affordability, more desirable locations, and lower maintenance, it’s little wonder why. Many Australians are crossing the McMansion off their wish list in favour o...

31/05/2023

🤔 Are interest rates set to drop towards the end of 2023? 🤔⁣
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CommBank has forecast it expects the Reserve Bank of Australia (RBA) to start decreasing the cash rate by the end of 2023. And it to drop as low as 2.85% by May 2024. ⁣
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But the rest of the Big 4 bank economists have a more conservative outlook.⁣
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Other lenders expect that the RBA will continue to increase rates this year and won’t start to drop them until mid to late 2024. 😲⁣
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But at the end of the day, it’s up to the RBA and the economic climate. ⁣
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If you’re buying or refinancing and need help finding the right interest rate, drop us a line. ☎⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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29/05/2023

🤨 Are these lender eyebrow-raising transactions in your spending routine? 🤨⁣
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You may not realise that the following transactions can raise a red flag and hinder your mortgage application.⁣
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🤑 Paypal transactions - these can make spending hard to track for lenders, and transaction descriptors can often be vague.⁣
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🛍 Buy now, pay later - missed payments can be costly and lead to credit score hits. ⁣
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💸 Spending your savings often - this can show lenders you’ll struggle to service your loan. ⁣
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💳 Store credit cards - high interest rates and missed payments can get you into hot water. ⁣
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💵 Large, frequent ATM withdrawals - tracking spending can be more difficult. And frequent, large, late-night weekend ATM withdrawals aren't a great look.⁣
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Want to know how you can polish up your financial habits to put your best foot forward? Contact us today. 😁⁣
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To find out more, DM us or contact FutureNow Finance on:

☎ – 0478 759 656
💻 – [email protected]
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24/05/2023

Is the property market starting to rebound? Prepping your finances now could have you ready to bounce when the time is right 🏀

Navigating the Australian property market over the past year has felt like standing on shifting sands. But is the market starting to regain stability? And if so, what can you do now to make sure you’re ready to buy? Anyone with an eye on the property and finance market over the past few years ha ....