A recent article in the Sydney Morning Herald points to a survey that indicates Australians ‘don’t understand home loans’ which is kind of scary considering that according to the latest census figures 32% of private dwellings are Being purchased – See: 2006 Census Quick Stats.
Those Census figures also indicate that there are just over 32% of private dwellings being fully owned. So it’s not an impossible journey and there must be a lot of Australians out there that do understand home loans!
So if your on or about to begin journey on the way to home ownership where can your learn more about mortgages and home loans? Actually, believe it or not, how about your local library. There have been a wide range of books written by local authors about their experiences with buying homes and battling the mortgage maze.
To introduce you to a couple of books to get you started check out ‘Your Mortgage And How To Pay It Off In Five Years – by someone that did it in three‘ by Anita Bell. The author shares her own personal success story and lessons learned in purchasing property and the book is easy to read and easy to follow. Anita Bell has released several other related titles. Another book to consider is ‘Fast Track your Mortgage‘ by Lorraine Graham. The book is also quite easy to read and follow and draws from the authors own personal experiences. The great thing about these two books is that they have the human touch, your not reading a set of legal documents! Find your local library at nla.gov.au.
The internet is also a useful place of discovery and right here at this site you can find general overviews on Saving Money for your Home Loan, Lender Types, Common Mortgage Types and Mortgage Calculators.
Local and Federal governments also provide a range of impartial information and guides. Check out the Government Resources section for a listing of helpful state and federal sites with information on money management, policies and initiatives.
To end, a quote by Benjamin Franklin:
“An investment in knowledge pays the best interest.”