Frequently Asked Questions

While not strictly required, obtaining pre-approval for a home loan is highly recommended for several reasons: • Understanding your budget: Pre-approval helps you understand how much you can borrow, based on your financial situation. • Competitive advantage: Pre-approval demonstrates to sellers that you're a serious buyer, which may give you a competitive edge. • Speeding up the process: Pre-approval can expedite the loan approval process, making the overall home-buying process faster. • Rate locking: Some lenders allow you to lock in an interest rate, which protects you from potential rate increases. • Problem-solving: Pre-approval allows you to address any credit or financial obstacles upfront, minimising delays during the final approval process. ​ To get a pre-approval for a home loan, please contact us here.(https://www.myfinanceagent.com.au/contact-us)

We are committed to helping our clients make informed financial decisions. If you're in the market for a home or investment real estate, property research reports contain valuable data that can help you make a successful investment decision. Using the most up-to-date information from CoreLogic, Australia’s leading property data, information, analytics, and service provider, our Property and Suburb Reports providing a comprehensive snapshot of a property and its neighbourhood. To order a free property report simply go here.(https://www.myfinanceagent.com.au/free-corelogic-digital-property-reports)

A construction loan is a specialised type of mortgage designed to fund the construction of a new property or the major renovation of an existing one. Unlike traditional mortgages, where the entire loan amount is disbursed upfront, a construction loan provides funds in stages as construction progresses. There may be several ways to finance your renovation project, depending on your needs and the scale of the project: • Home equity loan: Borrow against the current value of your home, usually up to 80% of its value, before any renovations. • Construction loan: Like a home equity loan but considers the final value of your home after renovations. • Line of credit: Ideal for ongoing or long-term renovations, offering a revolving credit line with interest paid only on the funds used. • Homeowner mortgage: Spread renovation costs over an extended period, suitable for major transformations. • Personal loan: Suited for minor renovations, typically capped around $30,000, but with higher interest rates than home equity loans. For more details and personalised loan advice, contact us here.(https://www.myfinanceagent.com.au/contact-us)