Choosing the right home loan to save your money
Broker Finance Associates provides tailored home loan solutions to assist with residential properties. Structuring your home loan is made simple through Broker Finance Associates. We provide a selection of low interest rates to suit your situation and offer home loan options to suit your needs. Our selection of home loans range from as low as 4.59% for variable and fixed interest rates. Speak to our Mortgage Brokers for a tailored Home Loan solution.
Standard Home Loan
This is a basic home loan with one loan account. This product is basic in features but have the lowest cost. Standard home loans are designed for borrowers that are looking for the most competitive cost structure.
Packaged Home Loan
This is a home loan attached with many features such as offset accounts and credit cards. The package provides convenience, flexibility, and ease of banking. Packaged home loans are designed for borrowers whom are looking to have the convenience of all their banking in the one place.
Construction Home Loan
This is a home loan for the construction of home which can be a basic loan with limited features or a packaged loan to provide a range of features. Generally construction loans are interest only for the construction period and loan to value ratios up to 95%. Construction home loans are designed for borrowers looking to build their dream home.
Line of Credit
This is a revolving credit secured against a residential property to allow funds to be drawn at your own pace. The loan is drawn at any amount up to the loan limit and interest is only charged for the amount drawn. Line of Credit is designed for borrowers whom may have more than one purpose for the loan and would like to have access to funds when you need it.
Guarantor Home Loan
This is a home loan option where parents of borrowers are able to use equity in their property to assist with borrowers to purchase a property. The loan is to help with people whom don’t have a large enough deposit for purchasing a property and can use parent’s property as a deposit for the purchase. Guarantor home loans are designed for first home buyers and individuals that don’t have sufficient savings and parents are happy to lend a helping hand for the buying of property.
Low Doc Home Loan
This is a home loan for people whom want to borrow but have limited income information. Generally interest rates are slightly higher and loan to value ratios are lower but allows borrowers to achieve their borrowing needs with limited income information. Low Doc home loans are designed for self-employed customers whom have limited tax return documents.
Bridging Home Loan
This is a home loan for people whom are looking to sell their existing property and purchase another property. This loan is helpful in providing extra finance when the purchasing property has been found but existing property has yet to be sold and gives the option to buy first and sell later, usually within 6 months. Bridging loans are designed for people looking to change properties and need the financing for the period when existing property has not yet been sold.
Reverse Mortgage
This type of home loan is a complex financial product to assist elderly borrowers access the equity in their home to fund retirement. It functions to allow borrowing against the residential home either as a lump sum or regular income stream whilst remaining in your property. Reverse mortgages are designed for retirees that no longer have the capacity to earn and require lump sum or cash flow of funds.
SMSF Home Loan
This is a home loan within your self-managed superannuation fund where funds are directed from the self-managed superannuation fund to the purchase of residential property. It is useful for people with a large fund balance and prefer investing directly in the residential property market. SMSF home loan is designed for direct investment into residential property via superannuation.
