First Choice Home Loans in Preston, Victoria, Australia | Loan service

First Choice Home Loans

Locality: Preston, Victoria, Australia

Phone: +61 3 9478 4400

Address: 551 Plenty Rd 3072 Preston, VIC, Australia

Website: http://www.fchl.com.au

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25.01.2022 The Reserve Bank of Australia (RBA) has kept the official interest rate at 0.10% #RBA #Mortgage #mortgageadvice #mortgagebroker #FCHL #FirstChoiceHomeLoans #FirstChoice #CashRate

24.01.2022 #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker

24.01.2022 What is Positive Gearing? As interest rates continue to fall, there has been more and more talk about the concept of positive gearing. Simply put, when a property is positively geared, it generates more income than it costs to hold....Continue reading

22.01.2022 The Reserve Bank of Australia (RBA) has kept the official interest rate at 0.10% following November’s historic cut. While the RBA board believes Australia’s recession is now over, they want to support the economy’s recovery by holding the rate at its record low. Speaking after November’s board meeting, RBA governor Philip Lowe revealed that the bank does not expect to increase the official cash rate for at least 3 years.... #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebroker

21.01.2022 Auction Clearance Rates Approaching Boom-time Levels Auction clearance rates in both Sydney and Melbourne are back at near-record levels as a combination of improving sentiment, stronger economic conditions and record low interest rates has lead to a surge of buyers coming back to the market. The heavy demand for property has seen Sydney’s auction clearance rate increase to 89.1%, while Melbourne is sitting at 83.8%, according to CoreLogic.... The last time auction clearance rates were this high across Australia’s two largest cities was during the last housing boom in 2017. #firstchoicehomeloans #mortgagebrokerlife #mortgage #mortgageadvice #FCHL #homeloan #mortgagespecialist #mortgagebroker #interestrates

15.01.2022 3 Common Reasons Why Home Loans Get Rejected The current lending criteria continue to get tighter than they have ever been before, meaning that potential borrowers need to have their applications in order. Here are 3 reasons why your home loan application might get rejected:... Poor Credit History - Lenders want to know that you are someone who can pay back a loan. A patchy credit history is a common reason for rejection by a lender. You Haven’t Been Employed Long Enough - If you haven’t been in a job for at least six months, or if you have been self-employed for less than two years, you might not qualify for a standard loan and could be rejected. Borrowing Too Much - While it is possible to borrow to a 90 or 95% LVR, this is deemed to be high-risk and could result in your application being rejected. #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker

13.01.2022 #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker #firsthomebuyer #firsthomeowners

12.01.2022 Property Markets Across the Country Climb in October The resurgence in the national property market has continued in October, with dwelling values increasing in all states except Melbourne. Overall the national property market increased 0.4 per cent last month according to the latest data from CoreLogic. ... The strongest performers have continued to come from the smaller capital cities with Hobart, Canberra, Darwin and Adelaide all increasing in value by more than 1 per cent last month. While Sydney values have started to rebound after declining over the past few months, up 0.1 per cent for October. Melbourne was the only city to record a fall in values, down -0.2 per cent thanks to the extended lockdown measures. Over the last seven months, since the lockdown measures first started coming into place across the country, national values have only fallen by 2.6 per cent in a sign of just how resistant the Australian property market really is. #FCHL #FirstChoiceHomeLoans #mortgage #mortgagebroker #mortgageadvice

10.01.2022 ANZ Predicts House Prices Rising in 2021 ANZ Bank forecasts price gains of around 9% across Australia’s capital cities in 2021. Perth and Brisbane are expected to see the strongest growth in 2021, with prices predicted to grow by 12% and 10% respectively, while all other cities across the country are expected to see prices rising in the coming 12 months.... #FCHL #FirstChoiceHomeLoans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker

09.01.2022 Median House Prices Rise Across Australia Median house prices across the country have started 2021 in a positive manner, rising by 0.9% for the month of January, according to CoreLogic. All the capital cities recorded price increases in January, led by Darwin, Perth and Brisbane, which increased by 2.3%, 1.6% and 1.6% respectively.... Sydney and Melbourne are also continuing to recover, seeing dwelling values increase by 0.4%. #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker

08.01.2022 Listings at Six-Year Lows The number of properties for sale across the country is at the lowest level we’ve seen in more than six years. According to the latest data from CoreLogic, there are just 84,858 properties for sale in the major capital cities. This is 17.0% lower than the same time last year.... The last time we saw listings this low was during the housing boom in 2015. Low stock levels have been a contributing factor to house prices remaining strong across the country and as sentiment improves, many cities are now facing severe stock shortages. #firstchoicehomeloans #mortgagebrokerlife #mortgage #mortgageadvice #FCHL #homeloan #mortgagespecialist #mortgagebroker #interestrates

05.01.2022 When is the right time to buy your first home? As house prices rise across the country, getting into the property market becomes harder and harder. Still, to this day, most people would simply like to own their own home. However, determining the correct time to buy is not always that simple. Here are some considerations you should take into account before buying your own home.... Income It could be suggested that your income is actually more important than the size of your deposit when it comes to buying a home. Banks and lenders are very focused on your ability to service a loan, which is a product of how much you earn and how much you spend. If you don’t have an income, it is very difficult to get finance from a lender. For that reason, you might want to wait until you’ve increased your income as you climb the ladder in your job or until your business has grown. Rent or Buy? Just because your income isn’t where you want it to be right now doesn’t mean you can’t still invest. If you do have a deposit together, it is possible to rent where you want to live and buy elsewhere. This is commonly known as ‘rent-vesting’. The benefit of rent-vesting is that the rental income you receive counts towards your serviceability. Rent-vesting allows you to get on the property ladder sooner than you might have been able to otherwise. The added bonus is that it is often possible to rent in a far better location than you could otherwise afford to buy into. That means you get to have the benefit of living in a great suburb without having to pay for it. Look at your Deposit If you are ready to buy your own home and you do have the income to buy now, but not the deposit, the good news is there are a number of options. First home buyers are highly incentivised by most state governments and it’s likely you will be exempt from stamp duty, which makes saving a deposit far easier. Similarly, lenders also have a range of loans that allow you to borrow 95% or more of the property value, with the help of a guarantor. These types of loan products are very helpful when you’re starting out. Credit Check One of the most important things you need to have is a solid credit rating. If you’re young or still living at home, you might have never even had credit before. A credit score is a track record of how you’ve dealt with debt in the past. Lenders want to make sure you are likely to pay it back. If you’ve had credit in the past and managed it poorly, then a lender won’t look too kindly at your application. Get your credit score in order before you look to buy a home. Speaking to a mortgage broker is the best way to assess your personal situation, and they can advise you on whether you should be looking to buy now, rent-vesting or waiting. #firstchoicehomeloans #mortgagebrokerlife #mortgage #mortgageadvice #FCHL #homeloan #mortgagespecialist #mortgagebroker #interestrates

03.01.2022 3 Things to Do to Prepare to Buy Your First Home Have you been considering taking the plunge and buying your first home? With the Government incentives on offer, it’s a great time. There are a few things you need to do before making an offer on a property.... 1. Save a deposit - with all the Government incentives and programs you can potentially get away with as little as 5% in genuine savings. 2. Good money habits - it’s important to save and pay your bills on time. This is something that lenders look at to make sure you are someone who can manage money. 3. Check out your credit score (it’s free to do), so you know what your track record looks like. The quickest way to do these three things is to speak to a mortgage broker. They’ll be able to assess your situation and even start the pre-approval process. #FCHL #firstchoicehomeloans #mortgage #mortgageadvice #mortgagebrokerlife #mortgagebroker #firsthomebuyer #firsthomeowners

01.01.2022 National House Prices On Track for 20% Growth The housing market boom across the country is in full flight, with the latest data from CoreLogic suggesting house prices are growing at more than 20% annually. According to CoreLogic, dwelling values across Australia increased by 2.8% in March and 5.8% over the first quarter of the year.... #firstchoicehomeloans #mortgagebrokerlife #mortgage #mortgageadvice #FCHL #homeloan #mortgagespecialist #mortgagebroker #interestrates