Perth Home Loan Tips — Aussie Brokers helping Aussie Battlers
I guess as an Aussie [Finance] Broker it's not so strange I found myself thinking about home loans this morning. Contemplating our local Perth real estate market and the typical hard-working Aussie who just wants a good loan deal, perhaps even as a first home buyer.
As everyone with even the slightest interest in securing a home loan would know, the interest rate significantly impacts how much total interest you pay over the term of your loan. So what else could really make that much difference? Quite a few aspects actually!
For those of you who initially went with a 25 year loan term, there are still big savings to be made on your home loan if you can accelerate your repayments. By accelerating your repayments on a typical loan by just 10 percent or $215 extra each month, you can save around $80,000 in the long run and repay a 25 year loan in just 19 years. Does an $80,000 saving sound worth considering? Now perhaps the word "budget" is rushing to the forefront of your mind. Don't stress your budget too much, but if you do have the extra funds, or can adjust your budget somewhat, putting it towards paying off your home loan sooner will greatly benefit your financial future.
There are many aspects to consider other than just the obvious interest rates when applying for your first home loan, which is why many home buyers now seek out a knowledgeable finance broker. An independent, experienced broker [PRIME Financial Perth for example] to guide them through the process and negotiate the best possible loan suited to their personal circumstances.
If you have questions or are considering a new home loan or refinancing your existing home loan, why not give us a call. Our services are FEE-FREE to you the client.