Find the Right Home Loan on the Central Coast

Home Loans & Finance services assist individuals and families with securing funding for purchasing or refinancing residential properties. These services help navigate the complexities of the loan application process, offering guidance on selecting suitable loan products and terms. Whether you’re buying your first home, upgrading to a larger property, or investing in real estate, these services provide support to match your financial goals. With access to a variety of loan options and personalised advice, Home Loans & Finance services aim to make property ownership more accessible and manageable for borrowers with different needs.

Home Loans & Finance services are valuable for homebuyers, property investors, and anyone looking to refinance an existing mortgage. First-time buyers benefit from guidance in understanding loan terms and choosing options that align with their financial situation. Investors seeking to expand their property portfolio can explore tailored financing strategies to optimise returns. These services are also helpful for those consolidating debt or looking to lower their mortgage rates. Whether you’re navigating the housing market for the first time or planning your next investment, Home Loans & Finance services can provide essential support for your journey.

Home Loans & Finance services typically include assistance with loan applications, comparison of various loan products, and guidance on selecting competitive interest rates. These services often involve evaluating your financial situation to recommend options that align with your goals. Borrowers may also receive advice on government incentives, such as first-home buyer grants or tax benefits. Services can extend to refinancing strategies, helping reduce long-term costs or access equity for future projects. The personalised approach confirms that borrowers understand their choices and feel confident in their financial decisions while navigating the property market.

The amount you require as a deposit to take out a home loan varies by lender. Major lenders will typically offer you loans with as little as 10% deposit (90% LVR), and in some instances as little as 5% (95% LVR) or less. A greater deposit will often translate into a cheaper interest rate as lenders see this as an indication of lower risk. Typically if you have a deposit less than 20% (80% LVR) you’ll need to pay for LMI.

Lenders Mortgage Insurance (LMI) is typically required when you take out a home loan that is more than 80% of the cost of the property you intend to buy (also known as LVR). Because offering up a smaller deposit is seen as higher risk by lenders, they will require you to take out LVR as it provides them some protection in the event you default on your repayments. A common misconception is that LMI covers you, the borrower; it doesn’t’! LMI will typically be arranged by the lender upon successful application of your new home loan and is due for payment upon settlement. Alternatively, most lenders can add it to your home loan so you pay it off over time.

The main difference between a fixed and variable rate home loan is the interest rate. A variable rate home loan will have an interest rate that fluctuates over the course of your repayment period (e.g. 25-30 years or so). A fixed rate home loan essentially hedges against interest rate fluctuations over a period of time; often between 1-5 years. After this period the loan will typically revert to a variable rate for the remainder of your repayment period unless you lock in another fixed period.

Fixing your interest rate, does come with risks. For instance if the variable interest rate falls and you’re locked into a fixed rate, then you’ll be paying a higher rate than you otherwise might if you hadn’t fixed. There are also other conditions that come along with fixing your rate, such as a ceiling on how much you can repay during the fixed period (ultimately limiting your ability to take full advantage of a lower interest rate).

Before deciding on whether to fix or not, speak with our brokers, we’ll help you navigate the minefield that is home loans.