Cerberus Finance in Black Rock, Australia | Mortgage brokers

Cerberus Finance

Locality: Black Rock, Australia

Phone: +61 419 546 553

Address: 4 Smeed Street 3193 Black Rock, VIC, Australia

Website: https://www.cerberusfinance.com.au/

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23.01.2022 Comparing commercial and residential property investment If you are looking for a sound real estate investment, look beyond the typical two bedroom apartment and consider expanding your portfolio with a commercial property. There are three types of commercial property office, retail and industrial. There are some significant differences between investing in commercial and residential real estate, each with a potential positive or negative impact on your investment. ...Continue reading

22.01.2022 What Are Genuine Savings? Get approved today Genuine Savings For A Home Loan Deposit Explained Just when you thought that you could get the best home loan deal by simply having a lump sum of cash, you might have to think again. Not all cash deposits are acceptable in applying for a home or investment loan when your deposit is less than 20% of the purchase price.... These days you can obtain a home loan with as little as a 5% deposit. That means a bank can lend you up to 95% of the purchase price. If you are considering applying for a home loan with a deposit that is less than 20% of the purchase price then here are some of the things that you need to know. At least 5% of your deposit needs to be made up of genuine savings. 1. What exactly are genuine savings? These are savings that are held or accumulated in a savings account for at least three months. 2. What other assets might be considered as genuine savings? Other assets that can be considered as genuine savings are term deposits, shares, and equity in property that are held for at least three months. If you have any debts, e.g. a personal loan, and you have been paying extra off your debt above the minimum requirement, you can use this extra repayment towards your genuine savings calculation. If you are currently renting for 12 months or more through a Real Estate agent, you may be able to use those rent payments towards your genuine savings calculation as well. Please contact us to discuss your personal circumstances to see if you qualify. 3. What does not qualify as genuine savings? Gifts from parents Tax refunds Income Bonuses Inheritance money Cash kept at home If any of these apply, we recommend that you place those funds into a personal savings account and hold them there for three months to qualify. 4. How much do I need for a home loan deposit? You can obtain a home loan with as little as a 5% deposit. The major lenders may provide a mortgage up to 95% of the value of the property. In some instances you may be able to borrow the whole amount, contact us to see if you qualify. 5. Can I buy a property if I don’t have genuine savings? We have access to lenders where you can borrow up to 95% of the purchase price without having genuine savings. Of course you still need to come up with at least a 5% deposit plus funds to complete (stamp duty, legal costs etc). Contact us today, simply click the 'Message' button above and our home loan specialists will answer all your questions and assist you with finding the right home loan for your situation.

21.01.2022 Did you know a lot of home owners overpay on their mortgage? Could a better deal put an extra $250+ per month back into your pocket? We offer a free Loan Comparison Service to see if switching could save you hundreds per month. Private message me today to get a free loan comparison!

20.01.2022 How to narrow down what you want in a home Before you can find the perfect home, you need to know exactly what you are looking for and as you may come across desirable homes that include only a few of the features on your list, you need to know which features are the most important to you. As a further complication, you will generally be working on this list with your spouse or partner, who may have different priorities to you! So how do you work out what you are looking ...Continue reading

15.01.2022 What Is A Mortgage Offset Account? An offset account is a transaction account that can be linked to your home or investment loan. The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan. Offset accounts enable you to make the most of your income and other funds to reduce the interest payable on your home loan, thereby reducing your loan term.... How an offset account can work for you: A customer with a $150,000 home loan over 30 years would pay approximately $167,190 in interest. If the customer had an offset account linked to the home loan for the entire loan term with a constant balance of $10,000 in it, they would pay the loan off in 26 years and 4 months and pay just approximately $127,553 in interest. This represents a saving of three years and eight months and approximately $38,636.95 in interest. Please note: These figures are based on a Standard Variable Rate of 7.36% p.a. We not only assist our clients with finding the right loan for their situation, but our post settlement service is second to none. Post settlement we help our clients and show them how to correctly set up their banks accounts and how to link them the right way with their loan accounts. Click the message button above and ask us which lender is offering the right loan for your situation! (We have access to all the major banks and many other leading lenders)

13.01.2022 First Home Buyer Cheat Sheet: 10 Tips To Buying Your First Home So you’re going to take the plunge into real estate ownership. Congratulations! You’ve just made a smart decision in securing your financial future....Continue reading

10.01.2022 What caption would be best for this picture?

10.01.2022 "Life isn't about waiting for the storm to pass... It's about learning to dance in the rain."

10.01.2022 Would you like to shave 10 years off your mortgage? How much interest could this save you? It’s not rocket science, it’s simply a matter of making more repayments more often and making sure you’ve got the best mortgage for your situation. Of the millions of homeowners, only some are getting out from under mortgage payments years, sometimes decades, before their neighbours. How?...Continue reading

07.01.2022 Tip: Don't just repay the minimum on your credit card every month! Doing so may take 20+ years to pay it off. Instead, create your own plan e.g. Say you decide to pay your credit card off in one year. Take the balance and divide it by twelve. Take that figure and set automatic monthly transfers from your savings account to get rid of that credit card debt quickly.

04.01.2022 What Is An Equity Line Of Credit? These loans are a great way to access the equity in your home to use for things like home renovations, investments or other personal purchases. Repayments on a line of credit loan are determined by the interest rate applicable at that time. If you have sufficient equity in your home, you will need to make a separate application for a line of credit loan. You have the added advantage of being able to make unlimited deposits / repayments as you... repayments are not set. You must check the conditions of these loans as they are sometimes more expensive than standard products. A line of credit is also a popular product with property investors as it gives them instant access for a cash deposit, and the ability to keep their properties separate from each other i.e. not cross secured. Think of it like a gigantic credit card with a limit. So planning and caution is strongly advised. For more information please click the 'Message' tab at the top to request a specialist finance broker to call you. We start with a review on your current situation, answer any of your questions and explore any opportunities available to save you money and/or invest.

03.01.2022 Is this your bank? Then it's time to take advantage of our Free Loan Comparison Service. Some clients discovered saving $300+ per month by switching to a better deal. Private message me today to see how much you could save by switching.

02.01.2022 "Never give up on something that you can't go a day without thinking about."

01.01.2022 What is a split home loan? It's simply dividing your home loan into two or more loans. For example, let's say you have a $200,000 home loan. You could divide your loan into one portion being $150,000 and the other $50,000.... Why would you do that? It can protect you against rate fluctuations if you, as per in this example, say fix the $150,000 for three years and keep the other $50,000 portion variable with a 100% offset account. Simple strategies like this can give you security in the home loan market whilst at the same time keeping the flexibility of making extra repayments and redraw with the variable portion. There are a lot of different options with split loans and every situation is different depending on the clients needs. Click the 'Message' button above if you'd like a professional take on your situation to see if a split loan would be appropriate for you.