Maureen Chun - Finance Broker

03/10/2024

Why use a broker? Oh, I wish I'd known sooner! It would have saved me so much time and energy when getting a loan!🤷‍♀️🙋‍♀️🏃‍♀️🏃‍♀️

Why choose a FBAA Finance Broker over a bank?

29/09/2024

🙌 🕵️‍♀️👩‍⚕️5 Reasons You Want a Good Credit Score !!

✅ Better Loan and Mortgage Rates
✅ Access to Credit Cards with Competitive Offers
✅ Approval for Rental Properties
✅ Favourable Terms for Utility Connections
✅ Greater Financial Flexibility

In summary, a good credit score in Australia opens up various financial benefits, from securing better loan rates to easing rental approvals and managing utility services more efficiently.

🧐🧐Access your free credit report here👓: https://shorturl.at/x2Wn1

19/09/2024

Your total credit card limits are your personal liability, even with great repayment history, it may impact your borrowing power 🤔. Look after your credit health !! 👩‍⚕️🏆🎯

12/08/2024

There's nothing quite like the feeling of being recognized by those you serve. This is what keeps us going.. and going..😃

Check out this awesome 5 star review from Mark.

Thank you Mark, we agree Maureen is not only highly experienced & professional but one of the most kindest & caring person you will meet & yes she will fight to get the best home loan for her clients.

Well done Maureen!

30/04/2024

Timeless advice on money management from the Barefoot Investor himself 👑🏃‍♀️🤹🙌...

An Australian family have transformed their finances by following advice from the Barefoot Investor, Scott Pape.

29/04/2024

A good read for those interested in investing property through SMSF. Here are some key points in SMSF lending: 💡💡

✅ Approximately 30% of the purchase price is needed in super.
✅ Special fund structure is required for the purchase.
✅ Higher interest rates (e.g., 7.4% @70% LVR with
offset).
✅ SMSF loan serviceability is based on super
contributions and rental income.
✅ The fund must meet the ‘sole purpose’ test.
✅ The associated cost of an SMSF loan is often
higher than that of a mortgage loan.
✅ Borrowing or gearing your super into property
involves very strict borrowing conditions. It's called
a 'limited recourse borrowing arrangement' (LRBA).
✅ Consider the ongoing management costs.

The above is general information only!!

** For financial advice specific to you, please seek the guidance of a licensed financial adviser/accountant.

The rules, costs and risks of buying residential property through a self-managed super fund (SMSF)

28/04/2024

Considering taking out a mortgage 🏠? Here are 12 crucial questions you should ask: 💥💥💥

1. What will be the loan amount?
2. Have you calculated your funds to cover all expenses, including the deposit, stamp duty, and other costs?
3. Which bank are you considering and why?
4. What is the expected application processing time?
5. Are you leaning towards a variable or fixed interest rate?
6. What is the interest rate for the loan?
7. If opting for a fixed rate, is it locked in? What are the limitations on extra payments during the fixed rate term?
8. Will you be making principle & interest repayments or interest-only repayments?
9. Are there any one-off payments required for the loan, such as application fees, legal costs, or property valuation costs?
10. Is there an offset account linked to the loan?
11. Are there any ongoing costs, like monthly or annual fees?
12. What are the discharge costs involved?

Make sure you have all the answers before making this significant financial decision.

26/04/2024

Exciting news for homeowners! 🏡💰If you're currently paying more than necessary on your mortgage, there's a fantastic opportunity to reduce your interest rate and save thousands on your repayments. 💸✨

Simplify your mortgage and keep more money in your pocket. Act now! 💰🏡