As a mortgage brokering firm, one of Green Lights goal is to make the home loan process as simple and painless as possible for our clients. Green Light will be the shining light through the home loan process.
Rather than you spending endless hours phoning or visiting the vast numbers of banks, credit unions, building societies and other lenders, a Green Light consultant will save you time and money by assisting you in finding a loan suited for your particular needs.
Buying your first home is one of the biggest financial decisions that you will ever make. At Green Light our experienced consultants will talk you through the copious amounts of home loan jargon; explaining
What you need to know in a manner that is easy to understand.
A Green Light consultant will outline the following key topics:
- The First Home Buyers Grant and how to apply for it
- Low deposit home loans
- Home loans that suite your individual needs
- Fixed Rate Home Loans versus Variable Rate Home Loans (the great debate)
- How to pay off your loan quickly
- Mortgage Insurance, it’s approximate costs and who it protects
- The home buying process (please refer to the Green Buyers Guide)
If you are now looking at buying your second home, you’re probably familiar with the home buying process. However, there are a few more considerations that should be addressed the second time through.
A Green Light consultant will discuss with you a number of options that are available to you when buying your second home.
Options that should be considered are:
- Bridging finance
- Converting the existing home into an investment property
- Selling the existing home whilst buying a new one (simultaneous settlement)
- Consolidating existing debts to increase potential borrowing power or increase saving potential
Investing in property is one of the most common methods used to create wealth. It is therefore often used to lay the foundations to achieve financial freedom for retirement.
At Green Light we can show you:
- How to use your available equity not your Cash: By using your home as collateral it is possible to purchase an investment property without having any additional savings.
- Maximise tax Benefits: Green Light Consultants are not tax specialists however they will liaise with your accountant to structure your loan in a manner that can maximise your tax deductions.
- Using High Leverage to your Advantage: Investment properties can be purchased at 80% LVR (loan to value ratio), without mortgage insurance or at higher levels dependant on specific lender and mortgage insurer guidelines. The higher leverage position reduces the amount of personal funds that are contributed in the acquisition of the investment property.
- No income Figures: Many lenders in recent times have adopted lending policy where in certain situations applicants can purchase an investment property without having to verify their income. Generally speaking the loan amount is restricted to 60% of the property value. Anything over this figure can often attract a premium via way of a loaded interest rate or other fees and charges. A Green Light consultants’ objective is to reduce these as much as possible.
Refinancing & Debt Consolidation:
Many Australians refinance their home loans for a variety of reasons. The most common reasons include:
- Debt consolidation
- Reduction in Interest Rates
- Cash out
- Changing to a fixed rate
- Change in personal particulars
- Poor service
When refinancing is done for the right reasons and in the right circumstances savings can be made. However when done in the incorrect situations the costs can out way the benefits and you could therefore actually be worse off. It is important to have specific financial goals in mind when considering refinancing.
A Green Light Consultant can help you achieve financial freedom by refinancing your home loan that is appropriate to your financial situation and goals. They will also discuss the benefits and costs with you to allow you to make an informed decision.
In certain situations, a Green Light consultant may even go back to your existing lender to obtained the desired result and yet potentially saving you, up to, thousands of dollars in fees and charges!
To find out more call Green Light on 1300 939 675 or email info@greenlightonline.com.au