Two Acre Finance - Mortgage Brokers

08/03/2024

Thank you so much Mornington Peninsula Business ☺️

Today is International Women's Day, a time to empower local women in business.

💜 When we support female entrepreneurs, we help them succeed and make our economy stronger.

💜 These women bring unique perspectives, skills, and talents to the table, enriching our business landscape and inspiring future generations.

💜 Read this article to hear about four local women who have successfully carved out a niche for their small businesses, showcasing the diverse talents and dedication of female entrepreneurs in our community. 👉 https://brnw.ch/21wHG8X

Linda George from Stina's Style
Janine Harrison from Janine Harrison Real Estate
Amanda Hardy from Two Acre Finance
Bev Dinsdale from Rosebud Packaging Supplies

08/09/2023

The cash rate rises aren't just affecting people who already have a mortgage.

If you have plans to enter the property market you may have noticed that your borrowing power has dropped significantly in the past 12 months.

This is because the higher the interest rate, the higher the monthly repayments. And, thanks to APRA guidelines, when calculating whether you'll be able to afford your loan repayments banks also need to add a 3% buffer.

Back in early 2022 when the cash rate was low and interest rates were around 2%, banks would calculate your borrowing capacity based on whether you could afford repayments on a 5% home loan (roughly speaking).

Fast forward to now, where the average interest rate is around 6%, the banks are calculating your ability to afford repayments based on a 9% interest rate! Note that we've rounded these figures, but you get the idea.

There are of course ways to improve your borrowing capacity, while making sure you only borrow what you can afford. Get in touch to start making a plan today.

05/09/2023

Are you worried about what happens when your fixed rate period ends?

Our team can help you navigate this process and find a competitive offer based on your needs.

Don't let your home loan become a burden – let us help you stay on top of your finances.

04/09/2023

If you’ve decided you're sick of renting and it's time to buy a home of your own, we can help you make it happen.

Most Australians secure their home loans through a broker like us these days. Will you be one of them?

Let us know if you want a hand navigating the finance maze.

02/09/2023

Happy Father’s Day to all the Dads and father figures. Thank you for the endless hugs, support, laughs, unconditional love, and all that you do for us. Here’s to a relaxing day ahead – however you choose to spend it.

31/08/2023

If you're new to the home buying process, it can be overwhelming to understand all the terms and jargon associated with home loans.

That's why we've all about breaking it down into easy to understand terms so you go into it with eyes wide open.

We're a jargon free zone and always explain the ins and outs of the process and products.

Understanding all things home loans will not only help you make informed decisions when you buy your first home, but will also give you confidence to keep climbing the property ladder.

28/08/2023

Home loans can be complicated, but with the right strategy, you can make the most out of your investment.

Whether you're looking to pay off your mortgage faster, refinance your home loan, or renovate your property, we're here to help.

Our team of brokers can guide you through the process and provide you with personalised guidance to help you achieve your financial goals.

From negotiating a better interest rate to consolidating your debts, we're here to help you optimise your home loan and achieve a brighter financial future.

Drop us a message to find out more.

25/08/2023

Rentvesting is where you buy a property but live elsewhere (in a rental).

It's not a bad way to get into the market, because it means you get to lock in today’s prices without being locked into living in the same place 'forever'.⠀

Who's considering buying an investment property before their first home?⠀

22/08/2023

There's a lot of noise about the perks of refinancing your home loan. And yes, it could save you big time.

But a word of caution: make sure you consider all the costs of switching home loans, like exit fees, application fees, and any opportunity cost of doing without key features.

You also want to make sure that the product you end up with serves your best interests now and for the long term.

This is why when we refinance our clients' home loans, we make an assessment against all their needs, not just at what might seem 'the cheapest' on first glance.

Who's refinanced their loan recently? Who is thinking about it? Who is happy with their current home loan?

20/08/2023

How are you going to use your tax return? Provided you get one, of course.

You could:
– Invest in shares
– Pay down bad debts like credit cards
– Bolster your emergency fund or home loan deposit
– Invest in a well-deserved holiday or education expense

(Not financial advice, of course. Your best course of action will depend on your unique situation).

How will you spend your tax return?

16/08/2023

Look, we're not saying having an Afterpay account – or other buy now, pay later (BNPL) service – will rule you out from securing a home loan.

But, it will impact your borrowing capacity, which is essentially how much the bank is willing to lend you. This is why a lot of people will actually close down their BNPL accounts several months before applying for their home loan.

Get in touch and we'll help you crunch the numbers to figure out how best to prepare for applying for finance.

14/08/2023

Applying for a home loan can feel overwhelming, but don't worry, we've got your back.

We've seen firsthand the common mistakes people make when applying for a home loan (without a trusted broker on their team), and we're here to help you avoid them.

Here's what NOT to do:
- Stretch your budget too thin: Look, we get it. That dream home is calling your name, but it's important to be realistic about what you can afford. Don't overextend yourself or you'll be left with a hefty mortgage repayment that will sap the joy away from home ownership.

- Skip the shopping around part: It's easy to go with the first lender that offers you a loan, but hang on a sec! Take the time to compare loan products from multiple lenders to make sure you're getting the best deal possible.

- Ignore your credit score: Your credit score matters. It plays a big role in being able to qualify for a loan and will impact the interest rate you're offered. Keep tabs on your credit file and take steps to keep it healthy.

- Forget the deposit: Most lenders require a deposit of at least 5% of the property's purchase price. Not having a deposit can limit your loan options and increase your interest rate.

- Hold back on financial information: We're not here to judge. We just need the complete picture of your financial situation to work out your loan eligibility. Holding back on information could lead to a rejected loan application or unfavourable terms.

We're here to help guide you through the home loan application process. Get in touch to make your homeownership dreams a reality.