RateCity.com.au
powering smart financial decisions

What is the average mortgage on a million-dollar home?

Before making plans to buy that million-dollar home, or refinance your current one, check what the average mortgage on a million-dollar home looks like. 

Is paying my mortgage off in full a good idea?

While becoming debt-free is wonderful, consider checking if paying down your mortgage is more suitable for your financial situation than investing the money elsewhere.

What’s the difference between genuine savings and non-genuine savings?

It’s likely that you already know you need to provide a deposit to qualify for a home loan. That’s not all your lender will require however. Many lenders also want to see how you saved that deposit, especially if you wish to borrow more than 80 per cent of the property’s price. While it may seem unnecessary, your ability to save money can tell a lender a lot about your credibility as a borrower. 

What you should know about construction loans?

Over 5000 Australians use construction loans to fund building a new home each year. If you’re planning to take this route, you’ll need a complete understanding of how these loans work.

What is a mortgage deposit bond?

If you don’t have enough cash available, you can pay the deposit on your home with a deposit bond, and pay the full amount on settlement of your purchase.

What does mortgage approval in principle mean?

A mortgage approval in principle isn’t the same as getting approved for a mortgage, but it can speed up buying a home. Find out how.

What you should know about borrowing money on your mortgage

If you’re looking to borrow additional money on your mortgage, you must consider a few things before applying for a top-up loan.

How do banks make money on mortgages?

Banks typically make money through the interest and fees they charge mortgage borrowers, which exceed the interest they pay on savings accounts.

How to prepare for a house valuation

How to find a good lender for a mortgage?

Finding the right home loan provider can be as important as finding the right house. Here’s how to check if you’ve found a good mortgage lender.