Find the Right Home Loan on the Central Coast

The Dream

Saved your deposit and finally ready to get into the housing market? Has your family recently expanded and it’s time for a bigger property? Whether you’re buying your first home, second home or just adding to your investment property portfolio; having access to the right financing can make the world of difference.

At Coast & Country Insurance Consultants, we also operate a finance and mortgages division known as Coast & Country Home Loans & Finance. Here, we help clients access a range of lenders and products to find the most suitable home loan based on their needs, income and other criteria. Based in The Entrance, we service the Central Coast and surrounding suburbs. We can also assist clients in other regions around Australia. Call (02) 4334 3622 and sit down with our brokers & advisors today.

Human Hands Holding Model — Insurance Broker in The Entrance, NSW

Loans We
Can Help With

Coast & Country Home Loans has been operating since 2003. Through our current referral sources, Coast & Country Home loans has access to the following through the major and non-major banks, and non-conforming lenders:

If you have had previous credit problems, we may be able to help. We also source other types of finance for clients such as vehicle loans and lines of credit. Contact us on (02) 4334 3622 to discuss your finance needs.

Frequently Asked Questions

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.

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