When it comes to home loan for investment property market or taking out a mortgage – There are a lot of options out there.
Many lenders, including the big banks can be quite rigid in the process of applying and getting approved for a home loan, especially if your means of income is atypical or unconventional.
This is not to say their rates aren’t competitive, and every home loan applicant should shop around to determine what’s right for them. This is especially true when it comes to home loan for investment property.
We too offer individually branded loans, which are structured and managed by us to ensure that your mortgage suits you – and that your repayments will never cause any undue financial stress.
If you don’t think you are quite suited to any of the mortgage programs we offer, we can still act in the capacity of a broker and examine mortgage options and products from external lenders on your behalf.
Guardian National Mortgage approaches every situation from a client-first perspective, and we are proud of our ability to analyse a financial situation from a holistic viewpoint – rather than merely scrutinizing the individual coming to us for help.
We are real people, with a real understanding that financial situations are rarely black and white.
This philosophy and knowledge have granted us the experience, wisdom, and resources to provide personalised service for all our clients.
Refinancing is a complicated process, comparable to taking out a loan. People often seek out refinancing based on recent changes in interest rates or in financial situation or plans.
Refinancing occurs when a debtor wants to revise the terms or scheduling of a financial agreement, such a mortgage, car loan, or student loan.
It is important to be careful with refinancing, as a 2018 study revealed that the average minimum spent on refinance services is $712, while the average maximum was $3837. It is a very expensive service and the decision to do it shouldn’t be taken lightly.
It makes sense to refinance when:
- Your current Lender’s interest rate or repayment rate isn’t competitive in the mortgage market anymore.
- There is a major change in your financial situation, either allowing you to pay more, or restricting your finances further.
- If a drastic or important expense comes up and you want to leverage the equity on your home for a line of equity loan to cover the costs.
- You want to switch your loan type.
- You want to consolidate other debts.
If the any or all of the following applies to you, then you should not seek out refinancing services:
- If you won’t be the owner of your home loan for investment property for much longer.
- You have high prepayment penalties on your existing home loan.
- You have poor credit history.
- If you’re a business owner, self-employed, or freelancer.
- If you have a low balance on your loan already, and don’t want a redraw facility.
Guardian National Mortgage is a proud specialist in the quality of our refinancing services and are more than happy to advise in this area.