Important factors for home loans

Borrowing Capacity

Borrowing Capacity

How much you can borrow is something you need to know before you commence your property search as it tells you how much you can spend on your new home. Many borrowers go a step further and pre-approve their loan prior to commencing their property search to confirm how much they can borrow. Your borrowing capacity will vary from lender to lender because lenders use different methods of assessment and different lending criteria. Your personal circumstances, assets, liabilities, number of dependents and your income will play a crucial role on the amount that you can borrow.
How Much Deposit Do I Need?

How Much Deposit Do I Need?

The total amount of your deposit will affect the type of loans and lenders that are available to you. Fast Repay Home Loan will be able to assist you secure a home or investment loan. It’s easier than you think. We have access to Home Loans that requires minimum Deposit, also there are many ways of Covering Your Deposit especially if you are a first home buyer, there are many schemes available to both help you save and to cover your home loan deposit. Along with your deposit, you will also have to pay the standard fees and charges associated with your home purchase. If you don’t have all of the additional funds for fees and taxes, there are ways to also cover some or all of the fees. Your Fast Repay Home Loan Finance Coach should be able to show you your options when you are sorting out your home loan.
Monetary gifts

Monetary gifts

There is also the option of using a monetary gift to assist you with your deposit. This can help you bring the loan you require down to a manageable level, and reduce or remove the requirement for Lenders’ Mortgage Insurance.
Limited Guarantor Loans

Limited Guarantor Loans

The Family Pledge option allows family members (the term ‘family member” refers to parents, grandparents and siblings) with equity in their own property, to help customers bridge the deposit gap and cover up front borrowing expenses, by providing a limited guarantee in support of our client’s loan application. Our clients will be able to maximise the amount they can borrow against their own security, i.e. purchase property, with this additional limited guarantee from a family member. The guarantee is to be supported by a registered first mortgage over the family member's property or a registered second mortgage.
Deposit Bonds

Deposit Bonds

Deposit bonds are a cost- and time-efficient alternative to a cash deposit if your cash is tied up or you are unwilling to use it. It is a guarantee to the vendor equal to the amount of the deposit required. Deposit bonds can help you to improve cash flow by allowing you to retain the cash for the period your deposit bond covers – generally anywhere up to about 4 years.
First Home Buyer

First Home Buyer

It’s never easy the first time, your Fast Repay Home Loan Finance Coach is able to guide you through the settlement procedure so you don’t get lost or overwhelmed during the steps and process involved in buying your first home. From the First Home Owners Grant right through to the last repayment on your home loan, we will give you the guidance, advice and support throughout the life of your loan.
First Home Owner Grant

First Home Owner Grant

The FHOG provides assistance to Australian citizens and permanent residents when building or purchasing their first home. The FHOG is tax-free, is not means tested and there is no upper limit on the value of the property purchase. To receive the FHOG, each applicant must comply with the eligibility criteria. Criteria for qualifying applicants and properties vary in each State and Territory.
Access Your Equity

Access Your Equity

Equity loans allow you to access the equity in your property to fund your renovation project. How much you can borrow is subject to the amount of equity you have built up in your property and other serviceability criteria, but as a guideline, even if you own your home outright you are likely to be limited to borrowing a maximum of 90% of the value of your property.
Debt Consolidation

Debt Consolidation

Debt consolidation combines several loans into a single loan, assisting you to manage repayments, reduce interest rate costs and control your debt. Typically, debt consolidation combines unsecured debts such as personal and car loans, credit card and store card balances into your home loan, securing the debt with your property.
Low Doc Loans

Low Doc Loans

The Low Doc Home Loan is a fully featured home loan that meets the market need for customers (new and existing) who are unable to provide income documentation to verify their income. Variable and 1,3 and 5 year fixed interest rates are available.
Non Conforming Loans

Non Conforming Loans

Specialist lenders offer non-conforming loans to people who don't meet mainstream lender's strict lending criteria, including older borrowers for whom a 25-year loan may not be appropriate because they are close to retirement; people with a bad credit history, perhaps with a history of late repayments, loan default or possibly even formerly bankrupt; new migrants with no borrowing record; seasonal, casual or self-employed workers.
Common Scenarios

Common Scenarios

There are a number of common scenarios which would see you in the 'non conforming' borrowing area. Ironically, many people with inconsistent employment are surprised to find that getting 'mainstream' credit as not as easy as they had thought. As are people starting new businesses. These days however, if you have the ability to repay, there is probably a non conforming lender who will give you credit. Short term self employed: Short term or 'speckled' employment: Borrowers with previously irregular income: Recipients of centre link payments or benefits: Defaults, Judgments & Bankruptcy: Tax Debts: Borrowers with large numbers of CRAA enquiries Borrowers with large amounts of consumer debt: Self certified or low document loans
Home Renovations or Moving

Home Renovations or Moving

Fast Repay Home Loan understands that during your life, circumstances change and life presents you with opportunities too good to pass up. Did you know our products can offer you the flexibility you need to keep your busy life simple? Whether you need to renovate your home to accommodate your growing family or want to move closer to your child’s school or partners work or simply want a change of scenery, we are able to assist. Short term self employed: Short term or 'speckled' employment: Borrowers with previously irregular income: Recipients of centre link payments or benefits: Defaults, Judgments & Bankruptcy: Tax Debts: Borrowers with large numbers of CRAA enquiries Borrowers with large amounts of consumer debt: Self certified or low document loans

Would you like a Home Loan with:

No ongoing Monthly or Annual Fee
No Online Transactions Fees
Unlimited free redraws and online Transactions
Unlimited 24 hour, 7 day a week access to your account with Internet and phone banking
Flexible 100% redraw offset facility
Manage everything online including loan transactions, statements, redraws and bill payments
Visa debit card linked to your redraw offset.
One Finance Coach for the Life of your Loan
And more…..

Choosing Your Home Loan:

Many Australians are aware that they need to do more for their future but feel they are unable to do so due to mortgage commitments, cost of living and the lack of funds available for investment use.

We see many potential clients struggle with their mortgage for 25 years or more, merely hoping that this debt will be paid off before they retire.

It is our aim to help you pay off your mortgage sooner thereby ensuring a more secure future.

We take the confusion and frustration out of finding the right solution. Our service is all about you – we spend time with you to understand your needs, your lifestyle and your goals.

When looking for a home loan it is very important to consider many factors:

Service of the loan provider (your lender or mortgage manger)
How Flexible is the loan?
Does it allow you to pay extra payments?
Does it allow you to deposit your income straight into the loan?
Does it come with a Free offset account?
Does it attract any ongoing fees or charges?

And finally what is the Interest Rate?
You cannot only rely on interest rate to determine a good loan. You need to look at the overall package. Interest rate does not determine the cost of the loan.

With Fast Repay Home Loan our motive is not ONLY help you get a home loan but to get you a Home Loan with the structure that allows you to pay it back years earlier.