Harry Singh in Truganina, Victoria, Australia | Loan service

Harry Singh

Locality: Truganina, Victoria, Australia

Phone: +61 403 864 005

Address: 163 Westmeadows Lane 3029 Truganina, VIC, Australia

Website: http://choicehomeloanshc.com.au

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• Loan service
• Mortgage brokers
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24.01.2022 Which is the right home loan for you? There are a bewildering variety of home loans available, and it can be confusing to figure out which type of home loan is the best for your circumstances. However, when you know the pros and cons of each type of loan, you can make a decision that will fit best with your financial situation. Fixed rate home loan...Continue reading

23.01.2022 Simple strategies to pay off your home loan sooner Of course you want to pay off your home loan as efficiently as possible to build equity in your home and avoid excess interest payments. Yet you don’t want to sacrifice your quality of life for the sake of making crippling mortgage payments each month. There are some simple strategies to help you pay off your home loan faster, without becoming too stressed about a tight budget. ... Place any lump sum payments into your mortgage account If you receive an annual bonus or a healthy tax return, place the extra money into your mortgage account. These lump sum payments can drastically reduce your loan term. Pay the same amount when interest rates drop Don’t let your bank reduce your regular mortgage payment when the interest rate drops continue paying the same amount, and this will reduce the interest, eventually cutting down your loan term. Offset your loans with a savings account pay wages into offset As your savings account earns interest, this amount is subtracted from the interest payable in your loan. When you reduce the amount of interest you need to pay, you can cut down on the length of your term. Shop around for a better rate Always stay alert for a better rate or a loan more suited to your requirements. You can delegate this task to a mortgage broker who will let you know if another lender can offer you a better rate or who can negotiate on your behalf with your current lender to improve the terms of your loan. Increase your repayment frequency Simply by making payments fortnightly instead of monthly, you will be making one extra payment a year. Again, this cuts down on the interest you need to pay, shortening the length of your loan term. Avoid additional debt While you are working hard to reduce the amount of interest you are paying on your home loan, you don’t need to accrue additional interest payments through credit cards and car loans. Minimize your debts so you can concentrate on paying off your home loan, as this is the asset which will appreciate in value. Examine your budget Have a close look at your weekly or fortnightly budget and see if you can cut down costs anywhere in order to make a small increase on your loan repayments. You could save $50 to $100 a week through simple strategies such as grocery shopping once instead of twice a week or cutting down on takeaway meals or having a no spend day once a week. That small amount of extra cash can be diverted into your mortgage payment, where it will add up to huge savings in the long term. Contact us today if you need expert assistance in finding simple yet effective ways to reduce the length of your home loan.

22.01.2022 "Life isn't about waiting for the storm to pass... It's about learning to dance in the rain."

06.01.2022 Don't let this happen to you! Get a broker to find the right loan & get approved. Message me to give you a professional take on your situation.

01.01.2022 Questions to ask your mortgage broker When you are going through the home loan and mortgage application process, your mortgage broker can help navigate you through all the paperwork and different loan options to find the right loan for you. While the process might seem overwhelming, you might not know which questions to ask. When you ask your mortgage broker the following questions, you will have a better grasp of why your broker selected this loan as the best fit for your ...circumstances. You also need to be confident that you feel this is the best loan for your circumstances, and if you have any concerns you can discuss these with your broker before signing on the dotted line. Do you have a license? A mortgage broker is required to have a current license in order to practice in the finance market, and this license should be displayed on their web page or in the office. Without a valid license, your mortgage broker is not qualified to give you advice on your mortgage. What can you offer me that the bank can’t offer? Amazingly, not all brokers have an answer to this! A good broker will explain their services thoroughly and these services should include finding the right loan package for you, then setting up the loan on your behalf. Their services should save you the time and stress of comparing loan packages for yourself and then organizing the loan directly. Which lenders are on your list? A good broker will have access to a wide range of lenders, from the largest established banks to the smaller lenders. The broker should also be experienced in interacting with all these lenders, so they know how each one determines a loan application and how long they take to give loan approval. With this experience and background, the broker will be able to give you accurate updates about the progress of your loan application. How do you determine that this loan is the most suitable for my needs? Your mortgage broker is legally obligated to find a home loan that is suited to your circumstances. Ask your broker to explain the thought process so you understand how they felt the features, rates and fees were right for your circumstances. For example, if you want the freedom to make overpayments on your loan, you need to ensure that your mortgage broker has chosen a loan that allows this without a penalty admin fee. How long will it take to process the loan? As mentioned above, different lenders have different procedures for processing loans, and some will take longer than others. Your mortgage broker should know how long it will take to process your loan application so you can work with a realistic timeframe while house-hunting. You don’t want the right house to slip through your fingers because your loan wasn’t approved on time! Contact us today if you are looking for expert guidance or advice on how to find the right home loan for you, whether it is for your existing property or your next purchase.

01.01.2022 "Never give up on something that you can't go a day without thinking about."