Star Homeloans

When home buyers take out a home loan, they have two options: wait until they have saved a deposit of 20% or sign on a mortgage with less down payment. If you choose the second option, in many cases, you will need to pay lenders mortgage insurance (LMI) before getting a mortgage finance. What is lenders mortgage insurance (LMI)? Lenders mortgage insurance protects the mortgage lender against losses they may incur if the borrower can’t repay the loan amount. While LMI only protects the lender, the cost is passed on to borrowers who are not able to meet deposit requirements. Some lenders may waive LMI if a borrower has a 15% deposit or if they belong to a profession that is eligible for an LMI waiver. LMI should not be mistaken with mortgage protection insurance (MPI). Mortgage protection insurance protects the borrower if they can’t repay their home loan for certain reasons such as injury, unemployment, accident or death. Is LMI tax-deductible? If the property you are looking to buy is ...

How a mortgage broker in Melbourne can help you find the best home loan. Get expert advice, competitive rates with Star Homeloans. Blog link:  Mortgage Broker in Melbourne

Can You Use Your Super To Buy An Investment Property? Discover how to leverage your SMSF for property investment with Star Homeloans. What is a Self-Managed Super Fund? You will need a self-managed super fund if you want to invest in property using your super. Unlike regular super funds, SMSFs provide you with more control over your investments. However, great control brings more responsibilities. To set up an SMSF, you have to take on responsibilities as a trustee of your fund. The investment flexibility can be achieved by an  SMSF property loan . Can You Use Your Super to Purchase a Property? With legislative changes in recent years, there have been different ways used by people to invest in a property through super and many people are now finding out the possibility of using SMSF to buy a property. This method brings numerous benefits. Investing in a property using super can offer various tax benefits. You can buy the same types of property in an SMSF that you can own in your ow...

Are you interested in buying a property but don’t have enough funds for a deposit? You are not alone. However, using your super to buy a house could solve this problem. So, you know that you can buy a house by using your super, but the question arises: is it worth using your super to buy a property? It’s a hot topic for many homeowners or who are thinking of  using super to buy property . Let’s delve into this topic to know the benefits of using your super to buy a property. Blog link:  Is It Worth Buying Property with Super

You might have found your dream home and looking to apply for a home loan, isn’t it? However, before you get home loan, there could be various approval processes you have to go through. There will be conditional and   unconditional loan approval  that you must achieve first before getting a home loan. Getting your application approved without further documents requirements is an exciting step. It would be an unconditional approval, which means the lender has approved your home loan application and there is no other requirements. Now, let’s explore what exactly unconditional approval is and what steps are involved in getting unconditional approval. Blog link:   How Long Does It Take to Get Unconditional Approval

  Refinancing a home loan might seem like a daunting task for many people. However, it could bring many benefits to you if you refinance a home loan. Knowing when to refinance your home loan may depend on various factors. To know what refinancing is and why you need to refinance, continue reading this blog. What is Refinancing? Refinance a home loan involves paying your existing loan with a new one. Home loan refinancing may shorten your loan term and minimise repayments. Thus, you can make additional mortgage repayments and get home ownership soon. Blog link:  Should I Refinance My Home Loan

  How Much Deposit Do I Need to Buy a House See how much deposit you need to buy a House in 2024. Find out more about what you should consider if you’re thinking of buying a house.