LOWEST RATE IN 139 YEARS !!!
Yet another Small Bank is leading the way with record low Home Loan Interest Rate of 3.99% p.a.
Ooooh … The Big 4 won’t be happy
BORROWERS … ASK YOUR BANK TO MATCH THIS RATE
Reserve Bank … We’re not changing rates anytime soon
Great News for Borrowers
The RBA Governor (Glenn Stevens) reported to the House Economics Committee in Brisbane yesterday (20/8/2014) that the RBA “hadn’t thought about raising rates recently”
Mr Stevens also stated that “The board has been mindful of allowing time for measures already taken to have their effects, and of the very considerable limitations for monetary policy in fine-tuning economic outcomes over short periods. It has also seen some value, in the present circumstances, in maintaining a sense of steadiness and stability”.
Australia’s “Big Banks” have bowed to the competitive pressure from “Smaller Banks” to reduce Fixed Interest Rates on Home Loans.
Borrowers are now able to “Lock-In” their Home Loan for 1 – 5 Years on Interest Rates below 5% p.a.
This is great news for Home Owners / Buyers however be mindful to consider your personal requirements & circumstance prior to “Locking-In” your interest rate as the wrong decision may be very costly.
Please remember that all clients of DPF Mortgage Specialists are welcome to discuss any potential changes to their Home Loan with our experiences Mortgage Specialists AT NO COST
Home buyers know they need to save 5% deposit but do you know what “OTHER” costs are incurred when purchasing a Home / Unit / Duplex / Townhouse ?
STATE GOVERNMENT DUTIES:
Stamp Duty (exemptions may apply)
Title Transfer Fee
Mortgage Registration
+
LOCAL GOVERNMENT CHARGES:
Property Rates + Water
+
OTHER:
House Insurance / Body Corporate Levies
Solicitor / Conveyancing Fee
Property Searches
Pest & Building Inspection
Change Locks
+
BANK / LENDER:
Home Loan Fees
Lenders Mortgage Insurance (Applicable if your deposit is less than 20% of the purchase price – Note: Banks may allow LMI costs to be added on top of your Home Loan)
Want to calculate how much you may have to pay ???
Click on “Contact Us” or telephone DPF Mortgage Specialists ph: 0755274744
One Australian Bank has providing selected Professional groups with amazing savings on their Home Loans by waiving the requirement for Lender’s Mortgage Insurance for loans up to 90% of the property value (i.e. LVR 90%).
Waiving LMI will achieve significant savings of $8,590.00 – $58,642.00 for Home Loans of $400,000.00 – $2,000,000.00 (LVR 90%).
ARE YOU A …
Accountant, Finance Manager
Auditor, Actuaries
Barrister, Lawyer, Solicitor
Engineer, Surveyor, Mine Surveyor
Quantity Surveyor
Geologist, Geophysicist
General Practitioners, Hospital-Employed Doctors
Medical Specialists, Dentists
Optometrists, Pharmacists
Veterinary Practitioners
The Bank has set specific “Eligibility Criteria” relating to the differing industries and the individuals.
ARE YOU ELIGIBLE ???
Click on “CONTACT US” or phone (07) 5527 4744 to talk with our Mortgage Specialists
WHY PAY THOUSANDS MORE THAN YOU NEED TO ???
The Reserve Bank has delighted borrowers by announcing that the record low interest rates will remain for the time being with the Official Cash Rate to remain at 2.50% in July 2014.
Senior Economists are not surprised by the RBA announcement as the majority continue to predict that interest rates are unlikely to change until late 2014 or early 2015.
QUESTION … Do the Banks add the commission paid to my Mortgage Broker onto my Home Loan?
ANSWER … No !!!
Reason … Banks are more than willing to absorb 100% of the cost to pay your Mortgage Broker as this expense is significantly lower than the costs the Bank would incur to employ more Lending Managers.
Mortgage Managers (e.g. Aussie Home Loans + RAMS Home Loans) do take into account all acquisition and business costs within their interest rate charges however, the vast majority of Mortgage Managers charge the same interest rates or lower for clients utilising the services of Mortgage Brokers.
For more information please feel free to contact our Mortgage Specialists.
The Banks have changed the Goal Posts for Home Buyers with most Banks now requiring borrowers to save a minimum of 10% deposit (previously 5%).
Home Buyers with less than 10% deposit will need to have a VERY STRONG finance application to be considered for approval and may be charged higher interest rates.
The problem faced by those currently applying for Housing Finance is that if the Bank or Mortgage Insurer declines your application you may need to wait up to 6 months before being considered for approval.
WANT TO APPLY FOR A HOME LOAN … TALK WITH OUR MORTGAGE SPECIALIST