{"id":2618,"date":"2022-05-05T10:49:46","date_gmt":"2022-05-05T10:49:46","guid":{"rendered":"https:\/\/simplybetterfinance.com.au\/?page_id=2618"},"modified":"2022-05-20T07:34:38","modified_gmt":"2022-05-20T07:34:38","slug":"first-home-buyers","status":"publish","type":"page","link":"https:\/\/www.simplybetterfinance.com.au\/?page_id=2618","title":{"rendered":"First Home Buyers"},"content":{"rendered":"

[vc_row full_width=”stretch_row” css=”.vc_custom_1652076053401{margin-top: -40px !important;margin-bottom: -40px !important;padding-top: 50px !important;padding-bottom: 50px !important;background-image: url(https:\/\/simplybetterfinance.com.au\/wp-content\/uploads\/2022\/05\/3433814.jpg?id=2744) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][woodmart_title size=”large” font_weight=”700″ title=”First Home Buyers” css=”.vc_custom_1652261982629{margin-bottom: 5px !important;padding-bottom: 50px !important;}” woodmart_css_id=”627b84565d6af” title_font_size=”eyJwYXJhbV90eXBlIjoid29vZG1hcnRfcmVzcG9uc2l2ZV9zaXplIiwiY3NzX2FyZ3MiOnsiZm9udC1zaXplIjpbIiAud29vZG1hcnQtdGl0bGUtY29udGFpbmVyIl19LCJzZWxlY3Rvcl9pZCI6IjYyN2I4NDU2NWQ2YWYiLCJkYXRhIjp7ImRlc2t0b3AiOiIzMnB4IiwidGFibGV0IjoiMjZweCIsIm1vYmlsZSI6IjIycHgifX0=” title_width=”100″ after_title=”First home buyers may be eligible for funding schemes depending on the state
\nor territory they want to buy the property.”][vc_tta_tabs style=”modern” shape=”square” alignment=”center” active_section=”1″][vc_tta_section title=”First Home Buyers” tab_id=”1652070173359-0e65e6a5-918c”][vc_row_inner][vc_column_inner width=”1\/2″][vc_single_image image=”2706″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_empty_space height=”50px” woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”1″ woodmart_hide_extra_small=”1″][vc_column_text text_larger=”no”]We understand it is an exciting but often nerve-wracking time for you, entering the property market for the first time can be intimidating. We at Simply Better Finance<\/strong> specialise in assisting First Home Buyers on their property journey and making it \u201cStress free\u201d. We are with you all the way to make your dreams come to realty, from the time we first speak with you until you get your dream house.<\/p>\n

Historically low interest rates coupled with the government offering more assistance than ever before means there has never been a better time to be purchasing your first property.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”Refinancing” tab_id=”1652070230337-55c7f05b-0ac9″][vc_row_inner][vc_column_inner width=”1\/2″][vc_single_image image=”2787″ img_size=”full” parallax_scroll=”no”][vc_empty_space woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”0″ woodmart_hide_extra_small=”0″][vc_single_image image=”2892″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_empty_space height=”70px” woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”1″ woodmart_hide_extra_small=”1″][vc_column_text text_larger=”no”]<\/p>\n

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Refinancing your mortgage means applying for a new home loan to replace your current one. You\u2019ll go through the same process of filling out a mortgage application, supplying supporting documentation, and signing paperwork. Your previous mortgage will discharge and paid by the new one and payments on your new mortgage will begin within the month<\/p>\n

The reasons to refinance your mortgage.<\/p>\n

1<\/strong>.)\u00a0 Better deal<\/p>\n

2.)\u00a0<\/strong> NOW days refinance cash back offers very common reason<\/p>\n

3<\/strong>.)\u00a0 Lower your monthly mortgage payment with a lower interest rate or by lengthening your repayment term.<\/p>\n

4.<\/strong> ) You\u2019ve accumulated enough equity in your home to convert some of it into cash to use for purchase new investment property or renovations or other big expenses.<\/p>\n

5.<\/strong> ) You feel crushed by your higher interest debt, such as credit card balances, and want to use some of your equity to consolidate it into a lower-interest mortgage loan.<\/p>\n

With interest rates at historic low, it is an excellent opportunity to examine your home loan to ensure it is the best fit for you. Contact us now to know more information about eligibility and refinancing alternatives available.<\/p><\/div>\n<\/div>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”Investment Loan” tab_id=”1652772169744-5d47aaf8-ad39″][vc_row_inner][vc_column_inner width=”1\/2″][vc_empty_space height=”90px” woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”0″ woodmart_hide_extra_small=”0″][vc_single_image image=”2896″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_column_text text_larger=”no”]Property investment loans\u00a0allow you to borrow money to invest in land, houses, apartments or commercial property. These loans work a bit differently to a home loan for a property you intend to live in. As an investment in property may generate income for you, that income may be factored into your ability to pay back the loan. Interest rates are usually higher for investment loans than home loans.<\/p>\n

\u00a0<\/strong>There are many benefits of investing in property. Here are a few of the key reasons why people invest:<\/p>\n

If long-term investment is something you are interested in, property investment could be an option. It could, for example, earn you income through tenants and capital growth \u2013 if it increases in value when you sell, the profit you make is called a capital gain.<\/p>\n

You may also reduce the amount of tax you pay, by offsetting some investment property expenses you have incurred\u00a0against your income. In addition, by\u00a0building up equity\u00a0over time (the difference between how much you owe and what your property is worth) you might use this to buy another property or\u00a0renovate your existing one.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”Next Home Loans” tab_id=”1652070173411-f5aa9370-2bff”][vc_row_inner][vc_column_inner width=”1\/2″][vc_empty_space height=”50px” woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”1″ woodmart_hide_extra_small=”1″][vc_column_text text_larger=”no”]<\/p>\n

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Downsizing, upsizing, or a move to the city \u2014 deciding what to do with your present house is the first step in buying your next home. Whatever the case may be, you’ll need a new loan or, at least, a different outlook on your current one. We’ll look at thousands of home loan options to discover the best loan for you.<\/div>\n<\/div>\n

[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_single_image image=”2785″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”House & Land or Construction Loans.” tab_id=”1652070229312-88af0451-3ee6″][vc_row_inner][vc_column_inner width=”1\/2″][vc_column_text text_larger=”no”]A construction loan is a home loan for people who are building a home or undertaking major renovations.<\/p>\n

This loan is ideal if you wish to receive funds in installments.Rather than a one-off payment from the lender, you will receive the pre-agreed funds in stages.This allows you to pay your bills at various stages during the renovation. You will have to work out a payment schedule with your lender and, most importantly, stick to it. The amount you borrow is still fixed, but you will receive it bit by bit. With construction loans, you will only have to pay interest on the amount used and not the entire loan. Some construction loans begin with an interest-only period. This means that while the renovations are ongoing, you will only be charged interest on what you borrow. After the renovations are complete, you will revert to paying back the money borrowed plus interest.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_single_image image=”2900″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”Top Up and Home Renovation” tab_id=”1653026597868-141bbbd1-078c”][vc_row_inner][vc_column_inner width=”1\/2″][vc_column_text text_larger=”no”]<\/p>\n

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Home Renovation\u00a0<\/b><\/div>\n

If you already have a mortgage, you could refinance or remortgage your loan. This can give you a little extra cash to spend on home improvements.<\/p>\n

If you have equity on your home, you could use it to refinance your mortgage and get a better deal. You could either talk to your current credit provider or find another lender offering better interest rates and fees. Refinancing can help you access funds to renovate your home.<\/p>\n

If your home loan has a redraw facility and you\u2019ve made extra repayments, you could also use it to fund your renovations.[\/vc_column_text][vc_empty_space height=”70px” woodmart_hide_large=”0″ woodmart_hide_medium=”1″ woodmart_hide_small=”1″ woodmart_hide_extra_small=”1″][vc_single_image image=”2952″ img_size=”full” parallax_scroll=”no”][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_single_image image=”2949″ img_size=”full” parallax_scroll=”no”][vc_column_text text_larger=”no”]Increase or Top-up\u00a0<\/b><\/p>\n

Applying for a home loan increase or top-up can be easier than applying for other loans, but you will still probably need to provide your bank or lender with some updated information, including:<\/p>\n

Income documents, Liabilities documents, Assets and banks will do new valuation.<\/p>\n

They will also run a credit check on you. It helps to get all this information ready before you apply to speed up the process and get an answer faster. If you don\u2019t have the information to hand, you can still get the ball rolling now.<\/p>\n

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Top ups \u2013 or loan increases \u2013 are only an option if you have usable equity. So what\u2019s that?<\/p>\n

Equity is the amount of money you have invested in your home. If you sold your house today, your equity is the money that\u2019s left in your pocket after you repay your loan and other costs. If the value of your home increases, so does your equity.<\/p><\/div>\n

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