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MXJ Finance

Phone: +61 2 8448 2009

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25.01.2022 Where's your dream holiday destination?

24.01.2022 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

23.01.2022 Do something Today that makes you Happy

23.01.2022 Top tips for young property investors It is possible for people to launch into the property investment market in their early twenties in fact, this is a great time to start, when you are first launching into your career and don’t yet have any other financial responsibilities such as a family to support. However, buying an investment property can never be an impulse decision it takes self-discipline and applied knowledge to start building a profitable investment propert...y portfolio. Set a budget and save The first step of course is to start saving for your first deposit, which is usually at least 20% of the purchase price (can be lower, check with your broker). You will need to be focused and realistic, and quite single minded in order to save a sufficient amount. Your best option is to set a budget and create a clear financial plan that will help you remain focused and prepared once you do buy your first property. Think long term While some of your peers will be looking into short term gratification visiting pubs and night clubs, booking overseas holidays or buying a new car - you need to establish a mind-set that focuses on the long term rewards of building your investment portfolio. Learn from the experts While you are saving your deposit, take this time to educate yourself about the property investment market and the best type of property for your first investment. Read articles about property investment and monitor the real estate section of your local newspaper, so you can build a vision of an affordable and profitable investment property. Consult local agents and mortgage brokers as soon as possible so they can offer their insight into the market. Seek advice from a professional accountant, who can oversee your savings plan and advise you on your first home loan. Consider a family guarantee If you have the option, you could ask a family member to act as guarantor of your bank loan. The guarantor allows the equity in their property to act as additional security for your home loan. This strategy could potentially reduce the amount of deposit you need to save. You can split the loan into two portions, so your guarantor is only guaranteeing one portion of the loan. That way, you can pay off that portion first, so you can release your guarantor from the agreement as soon as possible. Invest, don’t gamble Gambling is a game of chance where you can hope to win big but you are perhaps more likely to lose it all. Investment is based on knowledge and experience, so you make decisions that will be profitable in the long term. Learn everything you can about the property and the market, so you can make objective, beneficial decisions.

22.01.2022 Spend 10 minutes on the phone with me to see if you could save $250 or more per month OFF your home loan repayments. Private message me now for a free loan comparison!

21.01.2022 Fill in the blank: If I had a $1,000 to give away, I would donate my money to _______

21.01.2022 No surprise to tonight’s budget in terms of bringing forward the already legislated tax cuts. Interest rate are at an all time low. With potential further cuts coming. Businesses will be heading the way in terms of Covid-19 recovery. A very friendly share market and property market budget. Government is determine to hold up the asset value. Where else can the average Australians put their money aside from shares or property?... #Homebuyer #budget2020 #sharemarket #propertymarket #mxjfinance https://www.afr.com//home-listings-point-to-rising-confide

21.01.2022 What is a repayment holiday? Exactly that... a period of time where you don't make any repayments on your home loan. Usually it's a time when your financial situation changes... for example maternity leave, and therefore there is a period of reduced income.... Of course there can be other reasons too.. such as redundancies, illness etc... In any of those cases... rather than falling behind on your repayments, it's critical that you speak with your bank or broker to get some early advice to make sure you work with your lender to find an appropriate solution. Feel free to click the 'message' button if you need any information around taking a break from your home loan repayments.

19.01.2022 How to calculate your borrowing power One of the most important factors in your home ownership journey is the amount of money you can or should borrow. You want to borrow enough that you can purchase the right property for your needs, yet you don’t want to end up out of your depth in debt. Most lenders rely on their own variation of a basic formula to calculate your borrowing power. They look at six elements of your financial situation gross income, tax, existing commitme...Continue reading

18.01.2022 Working with a mortgage broker A mortgage or finance broker acts as your go-between, communicating with banks and lenders on your behalf, in order to secure the best deal for your circumstances. With approximately 40% of home loan applications being turned down, you can benefit from a broker to ensure that your application is sent to the right lender. However, while the broker can save you a great deal of running around, you should still double check everything to make sure y...ou are getting the best deal available. Is the broker licensed? Before you start doing business with a mortgage broker, check that they are fully licensed. In Australia, it is illegal for a credit provider or broker to operate without a license. You can check through ASIC Connect’sProfessional Registers or call ASIC’s Infoline on 1300 300 630. Before you start doing business with your licensed broker, ask what loans they offer and how they are paid. The broker’s fee is generally covered by commission paid by the credit providers, although some brokers may charge you a fee instead of commission or on top of their commission. If you are expected to pay a fee, you need to know this before you start doing business. Shop around before choosing a broker, so you are confident you have the best and most cost-effective person for the job. The broker’s role Your mortgage broker is responsible for negotiating with credit providers such as banks, to find the best possible loan for your circumstances. They can offer you a range of loan options and help you manage the process of buying your property. Make a list of all your loan requirements, so the broker knows exactly what you need and want. If the broker is making recommendations that do not fit your requirements, do not settle for not good enough ask the broker to keep looking. While the broker will save you a great deal of time and money by searching for loan options, you can still do your own window shopping. As your broker is paid by commission, it is possible they will favour a certain lender over one that has the deal you desire. Alternately, they might not have connections with a lender who has the home loan deal you want. It doesn’t hurt to look around! Written loan agreement Once the broker has secured a loan that satisfies your requirements, you must get a written agreement, specifying the type of loan, the amount of the loan, the term and the current interest rate. It should also cover any fees you are required to pay, such as commissions, broker’s fees or fees to the credit provider. You may also incur fees if you wish to terminate the agreement before the end of the term. How to make a complaint If you have a dispute with your broker or any concerns about their professionalism, you can make a complaint by contacting ASIC’s Infoline on 1300 300 630.

13.01.2022 Upgrading Your Home Before Selling? Most people have walked through beautiful model homes and wished their own home had all those modern features. Model homes showcase the latest in upgrades and decorating styles. When we get home all we can see is the tile in our bathrooms and yesterday’s details in our kitchens. These things can become overwhelming if we are considering a home sale in the near future. Can I even sell my house with granite countertops anymore?... Before you grab the sledge hammer and plan a DIY weekend of expanding your family room, take a breath. Your home doesn’t need to be the latest and greatest to fetch top dollar in the resale market. As you evaluate making changes to your home prior to listing it for sale, the first thing you should do is talk with your real estate agent. They have market experience which allows them to speak with you about how your home compares to others in your area. They work with buyers and sellers every day and know what features and upgrades are top sellersand which don’t matter at all. While the urban modern home in the magazine looks great, changing the details in your country house into industrial loft style is not an improvement. Some improvements do translate to better sales price in every case. Outdated wallpaper, dirty and worn carpet and dark rooms can always use improvement. New or cleaned carpet and a fresh coat of paint, coupled with light bright lighting, will really showcase the best features of your home. Each neighbourhood is different. As you work with your agent, you might find that there are upgrades which will net you a significantly higher sales price. For instance, if you are located in a high end, luxury neighborhood, those buyers expect updated kitchens and bathrooms and you might want to put some money into those rooms to market your home in the top end of the market. But again, talk with your agent before you guess. You don’t want to spend thousands of dollars in upgrades that your buyers don’t care aboutor worse. don’t want.

13.01.2022 Did you know that just because one lender rejects you doesn't mean another won't welcome you with open arms! Use a mortgage broker to help you (for free) find not only the right home loan deal but also the lenders that will actually help you. Using a professional mortgage broker can save you a lot of time and stress.... Have a great day :) Like & Share

08.01.2022 Which is better? Plan A - Buy a home Or Plan B - Buy an investment property and rent

08.01.2022 New 5.0-star Review: "Michael was recommended by my son & luckily l eventually took his advice.My numerous loans were refinanced with another lender saving me considerable money outlay & a rebate as well.He was very patient & helped me with every aspect. Contacting him was never a problem and he was very informative through out the whole process.A very happy outcome thanks to a professional, knowledgeable & reliable gentleman!Many thanks Michael. Highly recommend.."

07.01.2022 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

06.01.2022 Eight tips for New Australians wanting to purchase property If you are new to Australia and looking to establish a comfortable, settled life here, then sooner or later, you will naturally consider buying property, either as an investment or a home for your family. So there are a few things you need to do in preparation for your first property purchase. 1. Find steady employment...Continue reading

05.01.2022 5 Ways To Tell If You Found The Right House You’ve seen a lot of homes lately. You have been out every weekend searching for the right home for you. At this point, you might not be sure it’s even out there, or if it is, you might not find it. Then you drive up to a home that gives you hope. At this point, however, how can you tell if it is the right house for you? Here are 5 sure signs that you’ve found the right house:... 1. You feel excited. Just as your first love might have given you knots in your stomach, the right home could as well. You start to imagine a life in the home and it’s exciting. 2. You overlook the flaws. You are realistically seeing the negative aspects of the home and are willing to overlook them. Maybe you wanted a view and this home doesn’t have one. But the beautiful kitchen remodel and spacious landscaped yard make up for that. 3. It doesn’t have your deal breakers. You should never compromise on the real deal breakers in your criteria. That might be tempting if the master bathroom is perfect, but if you have to have 4 bedrooms and this is really just a 3 bedroom, you’ll regret buying the home. 4. It fits your overall criteria. The home is located in the school district, city or neighbourhood you want. The larger lifestyle aspects line up with the home. 5. You can afford it. So important! There is no reason to go see homes you truly can’t afford, but it happens. The right home is in your budget. Of course there are many more aspects which goes into knowing if the home is the right home for you and your family. One of the best ways to know you’ve found the right home is how badly you want the house. Once you’ve left the showing have you compared all other houses to this one? Do you talk about it, think about it? Can you imagine yourself in the home? If so, you’ve found the right one. So if you’ve found the right home, write that offer! Don’t let it get away!

03.01.2022 Did you know if a home loan interest rate varies by 0.5% (on a $350K loan), that's a saving of $41,875.00 over the life of the loan? My free loan comparison service tells you how much you could save! Message me for a free check up today! PM me...

02.01.2022 What's A Better Strategy To Access Equity: Take Out A Line Of Credit Or Just Top Up A Loan? [Long Blog Educational Status Update]: Lines of credit can be very useful; however, you need to be careful regarding an evergreen set-up in which no repayments are needed and the interest is added on to the loan....Continue reading

02.01.2022 Looking to get approved for a home loan? But ... Started a new job? Short term casual employment? Commission Income? Bonus income?... No problem... we know which lenders will approve you! Message me now to give you a professional take on your situation.

02.01.2022 "Life isn't about waiting for the storm to pass... It's about learning to dance in the rain."

02.01.2022 A psychologist walked around a room while teaching stress management to an audience. As she raised a glass of water, everyone expected they'd be asked the "half empty or half full" question. Instead, with a smile on her face, she inquired: "How heavy is this glass of water?" Answers called out ranged from 8 oz. to 20 oz. She replied, "The absolute weight doesn't matter. It depends on how long I hold it. If I hold it for a minute, it's not a problem. If I hold it for an hour, ...I'll have an ache in my arm. If I hold it for a day, my arm will feel numb and paralyzed. In each case, the weight of the glass doesn't change, but the longer I hold it, the heavier it becomes." She continued, "The stresses and worries in life are like that glass of water. Think about them for a while and nothing happens. Think about them a bit longer and they begin to hurt. And if you think about them all day long, you will feel paralyzed incapable of doing anything." Remember to put the glass down

01.01.2022 Like to know how much you can borrow? Message me today to get your free borrowing capacity report!