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Pay Off Your Mortgage or Not ?
This is probably the most popular question related to mortgage. If you have extra money, will you better off use it to pay off the mortgage (reduce your homeloan) or not ? What you will read here need open mind and a little bit knowledge about economy but if you never though about it before, it probably will blow your mind !
Read MoreOffset Account, Tax and High Rate Term Deposit/Saving Interest
Still in the cloud of Global Financial Crisis, some banks often offer very generous high interest rate for saving account or term deposit, even much higher than their mortgage interest rate. So, if you have mortgage as well, is it better put any extra money in this high interest saving or put it in the offset account of your home loan ?
Read MoreFixed Rate or Variable Rate ? See This Simulation, Get Clear Answer!
When interest rate is expected to be going up, the classic question of most mortgage holder is “should I fixed my rate or keep it variableâ€. And most answer they got will be the usual vague notion: “It dependsâ€. Well, do not settle with that answer, because with simple simulation below you will have your answer yourself with your own number! (The good news is, don’t worry about the calculation as the software will take care it for you)
Read MoreYour Homeloan Also Depends On Your Credit Card!
If you have (too) many credit card and you are thinking about getting a homeloan/mortgage, you need to read this article carefully. Yes, your credit card could actually the one determine whether you get approval for the homeloan or not. Even you are not using that credit card at all! And you cannot really lie about it as it is documented in your credit history. So, what can we do about it ? Fortunately, not that difficult.
Read MoreTaking a mortgage ? Do Not Change Your Lifestyle Dramatically
My observation could be too narrow, but from what I saw, when someone want to take a mortgage, he/she tends to go for the maximum available even exceed it. The argument usually that they can still afford the repayment, so there should be no problem taking that amount of mortgage/homeloan. It seems they forget one golden rule that I always endorse: if you take a mortgage you cannot change your lifestyle dramatically.
Read MoreA Sweet Revenge: Let The Banks Pay Your Debt
Here is the thing. Most of you in one way or another, sooner or later, will probably think that the bank you deal with is ripping you off. Homeloan rate, Account keeping fee, monthly fee, yearly fee, transaction fee, exchange fee, settlement fee, break up fee, overdraft fee, loan fee, ATM fee, dishonor fee, name search fee, etc, etc – you name your reason. Well, cannot really blame them as they are in the business to make money by providing financial service, i.e: not charity or foundation that will serve you for free. Now, having said that, how about if there is a sweet way to take revenge to your bank that make them pay your debt: it’s legal, it’s very sweet with very little effort. Interested… Keep reading.
Read MoreOffset Account: A Must Have For Your Mortgage
If you have a homeloan / mortgage account, and especially if you are on variable rate, one thing that you MUST have is offset account facility. Usually homeloan product that offer this facility will attract annual fee for the convenience, but it’s absolutely essential and worth it. Let us see why exactly it is in this article.
Read MoreBe Careful With “Interest Only” Homeloan/ Mortgage: a Potential Problem You Should Know
One of the selection when you take a homeloan/mortgage is that you can choose to pay “Principal and Interest” or “Interest Only”. On many occassion, I do recommend to take interest only whenever possible especially if you’re an investor, because the advantage is that you will pay cheaper repayment every month, and if you’re investor that extra money (the difference) can be use for other type of investment that give you more Return of Investment. However, before you really do choose “interest only” loan, you need to understand fully a potential problem associated with this type of loan.
Read MoreGetting Your First Home Loan or Mortgage: Not That Hard!
One of the reasons people cannot really make up their mind whether to continue renting a home or get a home loan and buy one themselves is that the thinking that getting homeloan must be quite tricky. Fortunately it’s not. In this article we will outline the big picture process of getting a homeloan and you will see yourselves that it’s not that hard.
Read MoreWhy You Should Always Use Mortgage Broker For Your Homeloan
When it comes to selecting home loan or mortgage, doesn’t matter if it’s a new loan or a refinance / remortgage, I without hesitant will recommend all of us to get a service of mortgage broker. A mortgage broker can be “‘disguised” as “financial planner”, “loan advisor”, “property consultant”, “property strategist”, etc… But as long as they offer you home loan product from various lender, they are mortgage broker.
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