Mortgage and Finance

Mortgage and Finance A dedicated and efficient finance manager/Mortgage Broker helping people to gain financial freedom.

Are you in the market to buy a property in Australia? Understanding stamp duty exemptions could save you thousands!We wa...
24/10/2024

Are you in the market to buy a property in Australia? Understanding stamp duty exemptions could save you thousands!

We want to make sure you are aware of these potential savings while also understand its limitations.

🏑 What is Stamp Duty?
Stamp duty is a tax imposed on property transactions by state and territory governments. It varies by location and property value, typically paid by the buyer within 30 days of settlement. It's a significant additional cost on top of the purchase price.

πŸ” You might qualify for stamp duty exemptions or concessions if:
* You’re a first home buyer (Australian citizen or permanent resident).
* You're buying a new home that's not been previously occupied or sold, an off-the-plan apartment or a land to build.
* You will live in the property as your home for a continuous period of time.
* The property value is below the exemption threshold.

Ready to buy a property and want to know if you could save on stamp duty? At Investors Mortgage, we stay up-to-date with the latest stamp duty rules across Australia. We can help you understand if you're eligible for any exemptions and guide you through the application process.

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π’πžπ§π’π¨π« 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

"Religion is meant to teach us true spiritual human character. It is meant for self -transformation. It is meant to tran...
11/10/2024

"Religion is meant to teach us true spiritual human character. It is meant for self -transformation. It is meant to transform anxiety into peace, arrogance into humility, envy into compassion, to awaken the pure soul in man and his love for the source, which is God."

Happy Dashain everyone πŸ™

πŸ’­ Why it’s not all about the interest rate? πŸ’²When it comes to home loans, it's easy to get fixated on finding the lowest...
16/09/2024

πŸ’­ Why it’s not all about the interest rate? πŸ’²

When it comes to home loans, it's easy to get fixated on finding the lowest interest rate. I would like to remind you that there are other key features to consider:

πŸ’‘ Loan Flexibility: Consider options like extra repayments, redraw facilities, and offset accounts to help save on interest and pay off your loan more effectively.

πŸ’Έ Fees and Charges: Be aware of upfront, ongoing, and exit fees, which can add up and affect your overall costs. A low rate that usually comes with a packaged loan might be offset by its high fees.

πŸ™‹β€β™€οΈCustomer Service: Does the lender offer accessible and quick customer service? No system is always perfect. If you encounter any issues or errors, poor customer service could cost you time and money.

⏰ Approval Time: If you're eager to buy in a competitive market, you might want to check to see if the approval timeline would work for your dream house. Lower interest rate usually means higher volume of applications and slower turnaround time.

Remember, the "best" loan is one that fits your goals. A slightly higher rate might be worth it for the right features or flexibility.

What's your priority when choosing a mortgage? Let me know in the comments!

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

πŸ•’ Am I Ever Too Old to Get a Home Loan?It's a question we often hear, and the short answer is: No, you're never too old ...
02/09/2024

πŸ•’ Am I Ever Too Old to Get a Home Loan?

It's a question we often hear, and the short answer is: No, you're never too old to apply for a home loan! However, there are some important factors to consider: πŸ”

1. Loan Term:
Lenders typically want the loan paid off by your retirement age. If you're older, you might be offered a shorter loan term, and this could mean higher monthly repayments.

2. Income Components:
Lenders need to see you can afford the repayments. If you're nearing retirement, they'll look closely at your future income beyond retirement. Superannuation, investments, and rental income can all be considered.

3. Exit Strategy:
This is your plan for repaying the loan if your income changes. Some examples are selling assets, downsizing and using sizable savings.

4. Loan-to-Value Ratio (LVR):
You might only be approved for a lower LVR (bigger deposit).

5. Loan Purpose:
Are you buying a home to live in or as an investment? Some lenders view these differently.

Remember, every lender has different policies. Just because one says no doesn't mean they all will. It's about finding the right fit for your situation.

πŸ“ˆ We believe homeownership should be accessible at any age. We're experienced in working with borrowers of all ages and finding solutions that's right for you.

Age is just a number – let's focus on making your property dreams a reality!

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

πŸ’° How Can You Use Your Property Equity?If you are wondering how to make the most out of the equity from your property, H...
15/08/2024

πŸ’° How Can You Use Your Property Equity?

If you are wondering how to make the most out of the equity from your property, Here’s what you need to know:

πŸ“ˆ What is equity?
Equity is the difference between your property’s market value and what you still owe on your mortgage. It’s a hidden cash pool you might have not realised. The actual equity you will be able to take out will depend on your borrowing power.

πŸ’Ό Ways to Use Your Equity:

βœ… Invest in More Properties: Use your equity to expand your property portfolio and boost your investment returns. Enough equity means you might need $0 savings for purchasing an investment property.

βœ… Renovate Your Home: Make strategic upgrades to increase your property’s value.

βœ… Consolidate Debt: Pay off higher interest debts such aa credit cards or car loans and streamline your finances.

βœ… Fund Major Purchases: Tap into your equity for big personal or business expenses.

If you are interested in how these strategies can work for you, let’s have a chat to explore your options and find the best approach for your situation.

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

Why the Bank Might Say 'No' to Your Loan Application ❌Understanding how banks calculate your borrowing power can help yo...
06/08/2024

Why the Bank Might Say 'No' to Your Loan Application ❌

Understanding how banks calculate your borrowing power can help you avoid surprises when applying for a mortgage. Here’s a quick breakdown of the key factors they consider:

πŸ’° Gross Income: Your total income before any deductions. This is the starting point.

πŸ“‰ Credit Score Concerns: Late payments, defaults, or too many credit inquiries.

πŸ’Έ Existing Commitments: Any current financial obligations like credit card payments, personal loans, or car loans. Paying off or reducing the limit on all or some of your existing debts is the easiest way to increase your mortgage borrowing.

🏦 Unstable Income: Banks love stability. If you've recently changed jobs, being self-employed for less than two years or have irregular income, it might raise red flags.

πŸ›’ Living Expenses: Banks estimate your living costs based on your income, household size and commitments. Even if you're living a humble lifestyle in reality, most of the banks would still calculate them based on a standard benchmark.

πŸ›‘οΈ Buffer: Lenders set aside a buffer for potential future interest rate rises or unexpected expenses.

πŸ’‘ If your application gets rejected, don’t take it as a dead end. It’s just a chance to tweak your plan and maybe even increase your borrowing capacity next time!

If you're facing loan troubles or want to boost your chances of approval, let's have a chat ! We’re here to help you turn a β€˜no’ into a β€˜yes’! πŸ‘‰

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πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

Last week, we talked about how lenders view PAYG income.πŸ’²Now let's talk about what lenders would look at self employed i...
25/07/2024

Last week, we talked about how lenders view PAYG income.πŸ’²

Now let's talk about what lenders would look at self employed income/company income when assessing a mortgage application. It's a bit different from PAYG, but don't worry – we've got you covered !

1. Financial Documentation that a lender might want to see depending on your reporting obligation:
βœ…οΈLast 2 years of personal and business tax returns
βœ…οΈProfit and Loss statements
βœ…οΈBalance sheets
βœ…οΈBusiness Activity Statements (BAS)

2. Income Stability:
βœ…οΈMost lenders average your income over the past 2 years, some take only the most recent year
βœ…οΈSignificant drops will require explanation

3. Business Longevity:
βœ…οΈMost lenders require 2+ years in business
βœ…οΈNewer businesses might face stricter criteria

4. Add-Backs:
βœ…οΈLenders may "add back" certain expenses to your income, like depreciation or one-off costs

βœ… Remember, every lender has different policies. Those that specialize in self-employed borrowers can offer more flexible options. Being self-employed doesn't mean you can't get a great mortgage deal. It just requires a bit more paperwork and planning.

Running your own show and need mortgage advice? Contact us today and let's get the ball rolling! πŸ‘‰

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

When it comes to lending, each lender has their unique and strict policies on how they treat your income. Even if you ca...
18/07/2024

When it comes to lending, each lender has their unique and strict policies on how they treat your income. Even if you can afford it in real life, it doesn't always mean you can afford it on paper. πŸ€·β€β™€οΈ

A few quick tips if you are a PAYG employee:

1️⃣ Your salary figure and YTD. Make sure your YTD total is aligned with your declared salary. If your YTD is lower for reasons such as unpaid leaves, prepare an explanation beforehand.

2️⃣ Overtime, allowance, bonus. Not all lenders take these extra earnings as 100% as they are usually not fixed. Some lenders can shave off up to 20% for a more conservative forecast.

3️⃣ Employment history and gaps. Have you recently changed industry? Have you had big gaps in between any jobs? You might need to provide extra information or documentation even if you simply just switched gears or had some much needed.

βœ… The best way to stay ahead of the game is to start working with a broker early to have all your income and financial information vetted. We provide expert guidance across a broad range of lenders and will find the best options for you.

Stay tuned for Part 2, where we'll discuss how lenders view self-employed income!

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

The most asked question these days is :Should I refinance now? πŸ€·β€β™‚οΈπŸ‘‰ A few things you should consider:βœ… Current interest...
11/07/2024

The most asked question these days is :
Should I refinance now? πŸ€·β€β™‚οΈ

πŸ‘‰ A few things you should consider:

βœ… Current interest rates vs the new ones.
βœ… Your credit score and income.
βœ… How long do you plan to own the property.
βœ… Potential exit fees.
βœ… Your financial goals.

πŸ‘‰ Refinancing might help you:

βœ… Lower your monthly payments
βœ… Pay off your loan faster with extra features and structure
βœ… Access your equity for new investments

Been thinking about changing things up? Hit us up for a chat and let's see if we can make your mortgage work harder for you! πŸ’ͺ🏠

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𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 π…π’π§πšπ§πœπž π’π­π«πšπ­πžπ π’π¬π­
πŸŽπŸ’πŸ“πŸ πŸ“πŸ•πŸ‘ πŸ•πŸ’πŸŽ

🏑Considering starting a family while managing a mortgage? πŸ“ˆ Here are five key considerations to ensure a smooth transiti...
11/06/2024

🏑Considering starting a family while managing a mortgage?
πŸ“ˆ Here are five key considerations to ensure a smooth transition into the next life chapter.

βœ… Strategic Mortgage Management
βœ… Emergency Savings
βœ… Future Home Upsizing
βœ… Budgeting for Home Maintenance
βœ… Long-Term Financial Planning

𝑾𝒉𝒂𝒕 𝑰 π’‚π’π’˜π’‚π’šπ’” π’”π’‚π’š- "π‘©π’–π’šπ’Šπ’π’ˆ 𝒂 π’ƒπ’Šπ’ˆ π’‰π’π’Žπ’† π’Šπ’ 𝒕𝒉𝒆 π’‡π’Šπ’“π’”π’• π’Šπ’π’”π’•π’‚π’π’„π’† π’Žπ’‚π’š 𝒏𝒐𝒕 π’‚π’π’˜π’‚π’šπ’” 𝒃𝒆 𝒂 π’˜π’Šπ’”π’† π’…π’†π’„π’Šπ’”π’Šπ’π’ 𝒃𝒖𝒕 π’•π’‚π’Œπ’Šπ’π’ˆ π’”π’Žπ’‚π’π’ 𝒔𝒕𝒆𝒑𝒔 π’•π’π’˜π’‚π’“π’… π’Šπ’• π’˜π’π’–π’π’… 𝒍𝒆𝒂𝒅 π’šπ’π’– 𝒕𝒐 𝒂 π’Žπ’–π’„π’‰ 𝒃𝒆𝒕𝒕𝒆𝒓 π’‘π’π’”π’Šπ’•π’Šπ’π’, π’‡π’Šπ’π’‚π’π’„π’Šπ’‚π’π’π’š"

Our mission? To empower you with knowledge and tools for success.
Reach out today to start your journey towards financial security and prosperity! πŸš€
Aarjoo Thapa
Mortgage Finance Strategist
0452 573 740

How Much Does Purchasing a Property Actually Cost? πŸ€”See what additional expenses that you might have not thought of. βœ… L...
23/05/2024

How Much Does Purchasing a Property Actually Cost? πŸ€”
See what additional expenses that you might have not thought of.

βœ… Lender Fees & Charges
βœ… Government Taxes & Duties
βœ… Legal Fees and Loan Documentation
βœ… Home Inspections & Reports
βœ… Moving Costs
βœ… Renovations & Upgrades

How I can help you ?
πŸ’‘ We help you budget for the true cost.
πŸ’° We identify incentives to help offset expenses.
🏑 Refer you to other quality service partners.

Please get in touch today.
Aarjoo Thapa
Mortgage Finance Strategist
0452 573 740

πŸ“šπŸ’‘

Again, with all the love and support from our clients, supporters and well wishers, we were able to settle 13 home loans...
07/03/2024

Again, with all the love and support from our clients, supporters and well wishers, we were able to settle 13 home loans in February, which means that we were able to serve 13 families with their home loan requirements. 🏘🏘

If you think we can be of any help to you, your friends or your families in relation to home loans and investment loans, please do not hesitate to contact us.

Aarjoo Thapa
Mortgage Finance Strategist
0452 573 740

Address

434 St Kilda Road, Level 5, Suite 502
Melbourne, VIC
3046

Opening Hours

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Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 10am - 7pm

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+61452573740

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