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Line of credit versus regular mortgage: My experience

Amanda Kendle — Tue, 26 Jan 2010 07:17:18 +0000

There are many different variations on mortgages and home loans out there for you to choose from, but two kinds which have some distinct differences are a regular mortgage and a line of credit (also known as a home equity loan). Just before I bought my first home a few years ago, I got a tip that a line of credit might be the right kind of loan for me. If you want to know if it’s right for you too, then read on. Continue Reading »

Understanding your mortgage broker’s jargon

Amanda Kendle — Tue, 19 Jan 2010 00:19:44 +0000

If you’re looking to get your first mortgage, or even to refinance, you’ll most likely have a meeting with a lender or mortgage broker – someone who’s an expert in mortgages and home loans. The problem is these experts sometimes forget that we’re not all experts, and they might bamboozle you with mortgage terminology or bank jargon that starts to make little sense. But it’s really important that you understand what they’re going on about – this is your money, and most probably it’s quite a lot of your money. Continue Reading »

Buying your first home, getting your first mortgage

Amanda Kendle — Tue, 12 Jan 2010 08:01:09 +0000

I don’t know which is scarier: choosing your first house, or choosing your first mortgage. Of course, these are exciting times, but they are big decisions that have a significant impact on your future, so these choices should definitely not be made lightly. Continue Reading »

Mortgage News Recap

Mortgageseek — Sun, 13 May 2007 05:53:26 +0000

Australian Mortgage news recap for the week ending 13th May 2007. Budget not too bad for investors Sydney Morning Herald Article goes into detail over the budget and it’s possible benefits to investors. Andrew Lawless of MLC looks at mortgages and provides five strategies for the use of tax cuts. Bevan to hit retail mortgage [...]

Do I want a home loan or a mortgage?

Mortgageseek — Tue, 03 Apr 2007 10:19:36 +0000

The term home loan refers to just that a loan for a home although the word mortgage could relate to a mortgage on a home or a commercial mortgage etc. although mostly interepreted as a reference to a home loan. But where did the word Mortgage come from? The word mortgage came from ‘Law French’ [...]

Dont forget your Home Loan this Christmas

Mortgageseek — Sun, 03 Dec 2006 05:13:45 +0000

Christmas is definately my favorite time of year, as I think it is for many, with it being a great time for giving, spending time with family and friends, celebrating and relaxing. It’s also a great time for retailers! You won’t go to far without being bombarded with sales, promotions, catalogues, specials and numerous attempts [...]

Interest Rates Take Another Leap

Mortgageseek — Wed, 02 Aug 2006 00:43:44 +0000

The news everyone was hanging on. Despite pleas from Howard and Costello the RBA has decided to lift cash rate to 6.0% with their desicision based on an underlying inflation rate of 3%, above-average global growth and strong domestic demand indicating likely inflation increases ahead. Continue Reading »

Saving Money for Your Home Loan

Mortgageseek — Sun, 12 Mar 2006 03:52:16 +0000

Saving a little money on everyday expenses and adding it to your home loan repayments can certainly help in getting that home loan paid of a little faster. Even if you are saving for a deposit it pays to look at your everyday spending and see where there may be an extra dollar or two [...]

100% Offset Loans

Mortgageseek — Fri, 30 Sep 2005 21:49:00 +0000

An Offset Account is a deposit account linked to the loan. The benefit being that any surplus funds that you might have, for example rental income or your pay, can be deposited into the account, offsetting the daily interest charged on the total loan amount. An Offset Account is generally not a loan that an [...]

Mortgage Refinancing

Mortgageseek — Wed, 28 Sep 2005 17:25:00 +0000

There are basically two options most homeowners go with when refinancing mortgage loans, you can either refinance or go with a cash out (line of credit) refinance home loan. When you go with the refinance mortgage route you are basically refinancing your existing mortgage or consolidating debts hopefully at a lower interest rate to save money. Continue Reading »