1300 YFA BROKER (932 276) | enquiries@yourfinanceadviser.com.auGet a free Property ReportAboutHome Loan TypeCalculatorsKnowledge HubBlogsRates & Special OffersContact UsFirst Home Buyer?Borrow 85% without LMI Enquire NowOwner Occupied LoanInvestment LoanFamily Pledge LoanSMSF LoanLow Doc LoanNo LMI LoanConstruction LoanDevelopment FinanceCommercial LoanOwner Occupied LoanOwner-occupied home loans are available for borrowers who plan to borrow money to buy a property to live in. Those wanting to take out an owner-occupied home loan may want to purchase an existing home, build a brand-new property (land & construction), or renovate an established one. When borrowing for owner-occupied property, you can borrow up to 95% inclusive of LMI. There are few banks who can lend up to 98% inclusive LMI but the higher interest rate will apply. Genuine savings is essential as most lenders will want to see that you are able to save consistently and will usually require your last three to six months saving history prior to considering you for a loan.First homeowners’ grants are offered by every state and territory government. These are cash grants available to buyers who have never purchased a home before. There are some stamp duty discount or exemptions available. Speak with the specialist now. Before purchasing a property, it is always important to get an idea of how much you need to borrow. How much you can borrow will depend on several factors including i.e. your income, eligibility for Homeowner Grant, what deposit is required, other loan repayments and commitments. Sitting down with our trusted lending specialist will ensure you know which options are available to you. Get FREE Loan Assessment Learn More +Investment LoanIt is a home loan taken out to purchase or renovate a property purely for investment purposes. Buyer will not live in this property and the sole purpose of this property is to rent it out or retain it for purposes of capital growth and building equity. Generally, Investment loan interest rates are higher as compared to owner occupied loans. For example, a variable interest home loan for an owner-occupier might be available at 2.69 per cent but for investment mortgages, the interest rate for a comparable loan might be 3.29 per cent or more depending on if you chose to pay principal & interest or interest only repayments. Most banks will use 70% to 80% of your rental income in the assessment and they will use negative gearing into account too when doing serviceability calculation. Investment loans are generally a higher risk than standard home loans and tends to be a greater chance of default. Hence, you need to be in a strong financial position to qualify. Get FREE Loan Assessment Learn More +Family Pledge LoanFamily pledge or family guarantee home loans allow you to utilise a family member’s home as security for your home loan meaning that you don’t need a huge deposit. It is a loan that allows the shortfall in your deposit to be secured by a family member’s property. It allows family members to assist you without giving you cash or putting cash in and only offering security guarantee. To give an example the family members property might be utilised to guarantee just 20% of the new loan and the property being purchased would be used as security for the other 80% of the loan. Either way the bank feels more comfortable as with this type of loan they have protection if first home buyers can’t make repayments or default on their loan. With this type of loan first homeowners can buy either a home to live in or investment property. The other great news is that even if the loan is a family pledge/guarantee loan that the first homeowners are still eligible for a First Homeowners Grant in their State (if applicable) if buying property to live in. Get FREE Loan Assessment Learn More +SMSF LoanAn SMSF loan is a home loan used by a self-managed super fund (SMSF) to buy residential or commercial investment property. The returns on the investment – whether that's rental income or capital gains – are funnelled back into the super fund, increasing your retirement savings. However, SMSF lending is complex and borrowers will need to ensure they have a qualified Accountant, qualified Financial Planner and a Lending Professional who understands SMSF loans and their requirements. It is also important for buyers to note that Loan to Valuation Ratio are lower on SMSFs – usually only up to a maximum of 70%. Interest rates apply for SMSF Lending are lot higher than normal investment loan. Buyers need to have a minimum of $200,000 in Superannuation fund balance to be eligible to set up an SMSF and they will require assistance from a qualified accountant and financial planner. There are few transactions prevented in SMSF i.e. construction loans, buying a residential property where fund member or any related parties intend to live in, renting a residential property to fund member or any related parties. If your SMSF purchases a commercial premise, it can be leased to a fund member for their business. However, it must be leased at the market rate and follow specific rules SMSF Lending can be a fantastic way of preparing for your financial future but having the right team of professionals is essential to help buyers understand the process and pave the way for a smooth transaction. Consult your Lending specialist for more information about SMSF loans. Get FREE Loan Assessment Learn More +Low Doc LoanLow-documentation or low-doc loans are for people - generally the self-employed - who have difficulty getting the documentation together that is required to get a traditional home loan. Traditionally, the interest rate offered on these types of loans was higher than for the standard variable rate. While lenders have various methods of establishing whether they will lend someone money, there are some major differences between mainstream and low-doc loans. The main documents that can be used to verify your income are: Always check with your broker if you would like to make any variations to your building contract, prior to proceeding. Upon completion of the dwelling, the construction loan will revert to the loan product originally chosen by you. On completion of construction, you will need to obtain an Occupation Certificate, also known as an Occupation Permit, from your local council. Get FREE Loan Assessment Learn More +No LMI LoanOne of the hardest parts of securing a home loan is saving the 20% deposit required by Australian lenders. Fortunately, medical professionals, lawyers and accountants are eligible for an LMI waiver from the major banks and most smaller lenders, meaning that they can borrow up to 90% of the property value in metropolitan areas with no requirement to purchase Lenders’ Mortgage Insurance (LMI). The LMI fee pays for an insurance policy that covers the bank for losses they incur if the borrower cannot repay their mortgage. Some lenders offer LMI waivers to borrowers who are employed within specific professions. As this offer is extremely lucrative, there are tight restrictions on the eligibility for the waiver. Generally, you must: Get FREE Loan Assessment Learn More +Construction LoanConstruction Loans can be quite different to a standard home loan, so it is important to understand what you are entering into. Maximum percentage you can borrow is up to 95% of the value of the property including cost of Lenders Mortgage Insurance. Many Lenders also offer interest only repayments during the construction process which revert to principle and interest repayments once the construction is complete. To qualify for a Construction Loan, you will need to have council approved plans and a fixed price tender from a registered builder. You should also note that you will need to use your saved funds or equity before drawing down on your Construction Loan.The Construction loan is drawn down in stages (Base, Frame, Outer brick work, Lock up stage & practical completion) as your property is being built. This means that your monthly mortgage repayments slowly increase as the construction moves forward until finally at completion of construction the loan repayment reaches its full monthly repayment amount. Always check with your broker if you would like to make any variations to your building contract, prior to proceeding. Upon completion of the dwelling, the construction loan will revert to the loan product originally chosen by you. On completion of construction, you will need to obtain an Occupation Certificate, also known as an Occupation Permit, from your local council. Get FREE Loan Assessment Learn More +Development FinanceDevelopment finance is mainly for larger development for example commercial building, property development building apartments, land development etc. Development finance typically operates as an interest-only, draw-down facility and the term of the loan would typically be 6 to 24 months, depending on the size and nature of the project. Usually the interest on a development loan is capitalised within the development period, with the entire loan inclusive of interest charged being repaid upon the sale of the property. Usually the interest can be rolled up into the loan, so there are no monthly payments. Lender would also like to see following things before investing in any development funding. Get FREE Loan Assessment Learn More +Commercial LoanIt is a type of loan which is taken by business or an individual for business purpose. The sole reason of loan is to fund commercial operation to develop business and expansion. Different kind of commercial loans available are business overdraft facility, chattel mortgage, equipment & leasing finance, line of credit, business term loan, commercial property loan. When compared to residential lending, Income verification is less strict due to lesser legislative restrictions. Income verification can be done as Get FREE Loan Assessment Learn More +Let Our Lending Specialist Find Your Ideal Home LoanWe are small company – big on service and our existing clients are our best advertisement you will receive personal, individual service. We recognize that no two borrowers are the same and sometimes you need more than one loan product or maybe more than one lender to get the best home loan in Australia for your needs. Know Your Lending SpecialistWhy Switch To Your Finance Advisor?ChoiceChoice of over 30 lenders, over 1,000 different loan products ComplementaryOur services are complimentary and obligation-free ConvenienceWe come to you, at a time and place most convenient to you and your family We Work For You Not The BanksIf it's not in your Best Interest, we won't recommend it! CareWe're there for you, not just for now, not just for this loan, but for your lifelong lending needs SpeedOur Team of Professionals guarantee that your calls and emails take priority over everything else. We will get back to you same day, 7 days a week! What Our Client's Say“Shail really did a very good job in helping us securing our first home loan. He is always available, patient and most importantly skilled in what he does. Thank you very much. Guru Hadadi“Highly recommend Gautam's service. He was friendly, approachable and very professional. He got us a good rate, was knowledgeable and prompt in following up enquiries. He went above and beyond to exceed our expectations. As a first home buyer, we didn't know much about the process. He was patient and walked us through the process. Getting a mortgage was seamless for us thanks to Gautam. Shona MehtaCompare, Calculate And Make Informed Decisions$Borrowing Power Calculator↻Loan Repayment CalculatorΣLump Sum Repayment Calculator+Extra Repayment Calculatorâ–¤Budget Planner⇄Loan Comparison CalculatorView All Calculators +Click Here For Obligation Free AssessmentOur Lending SpecialistWe will hold your hand throughout the home loan journey – Book complimentary obligation free consultation now Shailendra Wadhwashail.wadhwa@yourfinanceadviser.com.au0423 894 531Shail Wadhwa is a passionate and committed mortgage broker with over 6+ years of experience. Shail is a thorough professional and always willing to go extra mile for his clients to deliver the best outcomes. In the space of a...Read More +Sanjay Khannasanjay@yourfinanceadviser.com.au0423 941 735Sanjay Khanna is an experienced mortgage specialist who believes in working closely with clients to understand their specific needs and keeping them informed at every step of the home loan process. He is passionate about spending time upfront with clients...Read More +Akshay Ranaakshay.rana@yourfinanceadviser.com.au0422 449 894Akshay is a highly passionate Mortgage Broker who believes in building strong client connections through active listening and a genuine understanding of each individual’s needs. He invests time upfront with his clients to educate them about the loan process and...Read More +Vishav Atam Sawroopvishav@yourfinanceadviser.com.au0405 465 606Vishav’s background is Postgraduate in IT. Prior to embarking his career in Mortgage Broking business, he has worked in various capacities in sales and Telco verticals. He is a dedicated professional and with his thorough finance knowledge, work with his...Read More +Gautam Berrygautam.berry@yourfinanceadviser.com.au0499 090 090I am an experienced Relationship Manager, with an extensive sales experience in managing end-to-end product life cycle. Competent in managing relationships between lenders and clients. As I realize every client has different financial goals and circumstances, my aim as a...Read More +Susheel Kumarsusheel.kumar@yourfinanceadviser.com.auSusheel has over 20 years of experience in financial planning across private and public sectors. He is also a qualified CPA. Susheel moved to become a mortgage broker to help others achieve their Great Aussie dream of homeownership. Having built...Read More +←→Request A Call Back Δ Our BlogMay 31, 2022 | Commercial Property MortgageForeign Investment Doubles In Australian Commercial PropertyForeign buyers are continuing to look to Australia for... May 30, 2022 | Owner Occupied Home LoanHow To Pay Off Your Mortgage SoonerThe faster you're able to pay off your mortgage the more money... May 26, 2022 | Commercial Property LoansGetting Into The Property Market SoonerWith house prices rising sharply it's growing more difficult...
