Mortgage Services in Eastwood

First home buyers may access the First Home Owner Grant (FHOG) which varies by state (typically $10,000-$20,000 for new builds), the First Home Loan Deposit Scheme allowing purchases with just 5% deposit without LMI, stamp duty concessions or exemptions, and the First Home Super Saver Scheme allowing access to voluntary super contributions for your deposit.

Recent RBA cash rate movements have directly impacted variable mortgage rates across the country. While rates increased significantly in 2022-2023, some lenders are now offering competitive fixed and variable rates to attract new borrowers. We continuously monitor these changes to ensure our clients receive the most current rates.

Most lenders require two years of personal and business tax returns, though some accept alternative documentation for established businesses. Low-doc options typically require an accountant's declaration, BAS statements, and bank statements showing business income. Non-bank lenders often have more flexible assessment criteria for self-employed borrowers.

LMI is insurance that protects the lender if you default on your loan when borrowing more than 80% of the property value. You can avoid LMI by saving a 20% deposit, using a family guarantee (security from a family member's property), accessing the First Home Loan Deposit Scheme, or through professional package waivers available to certain occupations.

Negative gearing occurs when the rental income from your investment property is less than your interest and property expenses, creating a tax-deductible loss. This loss can be offset against your other income, reducing your overall tax liability. While tax benefits are valuable, we ensure your investment strategy factors in potential capital growth and long-term rental returns as well.

Standard requirements include 100 points of ID, 3-6 months of pay slips and bank statements, most recent group certificate or tax return, details of assets and liabilities, and evidence of your deposit. For refinancing, you'll also need 6 months of mortgage statements. Self-employed borrowers require additional business financial documentation.