A home buyer can obtain financing (a loan) either to purchase or secure against the property from a financial institution via a mortgage broker (that’s what we do!). Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan and other characteristics can vary considerably. It’s always best to speak with a mortgage broking professional to determine the loan that is right for you.
A home buyer can obtain financing (a loan) either to purchase or secure against the property from a financial institution via a mortgage broker (that’s what we do!). Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan and other characteristics can vary considerably. It’s always best to speak with a mortgage broking professional to determine the loan that is right for you.
A loan with lower repayments for the first six to twelve months is often called a Honeymoon Loan. After the ‘honeymoon’ the loan becomes a standard variable loan and the repayments increase. Make sure that you can meet the higher repayments for the remainder of the loan. You could also be faced with a fee at the end of the honeymoon period to switch to another loan type.
The variable rate loan offers more features and flexibility than the basic or “no frills” loan, so the rate is usually slightly higher. Fixed rate loans are set at a fixed rate for a specified period – usually one to five years. The advantage of allowing you to organise your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates.
A line of credit loan allows borrowers to establish a credit or facility limit, and then draw from it and pay down the loan without restriction. Equity Loans, offer similar benefits and features as bank overdraft.
Reverse mortgage allows the borrower to leverage equity in their property by lending against, and secured against the property in question. Funds may be borrowed for any purpose including day to day living.
A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is generally secured against your property as you are utilising the equity in your existing property. Usually, bridging loans are short term and more expensive than other types of loans.
Vehicle and equipment finance solutions may be a practical alternative when considerations of cash flow and maximum claimable tax benefits are a business priority irrespective of the investment size.
A range of commercial loan products are available which can cater for and address any number of business challenges faced by business’ every day.
Asset based financing options include finance for vehicles, & IT equipment at competitive rates.
Taking your business to the next level can be a daunting step and often involves assessing what financial options are available to you. Whether you’re expanding organically or by acquisition iFinance is here to help you understanding what borrowing options are available to you.
Due to expensive upfront costs and regulation related hurdles, smaller businesses do not typically have direct access to the debt and equity markets for financing purposes. Therefore, they must rely on financial institutions to meet their financing needs. Commercial Loans are renewable loans used to finance a company’s immediate working capital needs. These can be large or small scale and usually operate short-term.
Investment loans are structured in a specific way that allows you to make the most of your assets! An investment plan is one that works toward building your wealth and securing your financial freedom. For some, the future may seem a long way off, but the time to act is now because the future waits for no one. The housing market is generally a seven to ten year cycle: there are always highs, lows and steady patches.
SMSF is similar to other super funds, the difference is that an SMSF is managed by you. This provides greater control but also involves more effort and responsibility.