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Nancy Wang

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24.01.2022 Eligibility: To access HomeBuilder, owner-occupiers must meet the following eligibility criteria: you are a natural person (not a company or trust);... you are aged 18 years or older; you are an Australian citizen; you meet one of the following two income caps: - $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; - or $200,000 per annum for a couple based on both 2018-19 tax returns or later; you enter into a building contract between 4 June 2020 and 31 December 2020 to either: - build a new home as a principal place of residence, where the property value does not exceed $750,000; - substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million; construction must commence within three months of the contract date. If you would like to know more, feel free to DM me See more

19.01.2022 The Victorian First Home Owner Grant (FHOG) amounts to $10,000, and is only for eligible First Home Buyers who buy a brand new property (never lived in) or off the plan (such as building a home, or buying a new apartment) valued up to $750,000. Eligible FHBs purchasing in regional areas receive a grant of $20,000 with the same conditions. If you qualify the income test and contract period requirement for the newly introduced HomeBuilder incentive (see my HomeBuilder post f...or more detail), a First Home Buyer in Victoria could be eligible for a total of $35,000-$45,000 for the purchase of their new home. You’re not missing out entirely if you’re buying an established property; eligible Victorian First Home Buyers buying new or established homes pay no Stamp Duty for purchases up to $600,000, and discounted Stamp Duty for purchases between $600,000 and $750,000. At least one eligible applicant needs to live in the home for a continuous period of twelve months (not six), commencing within twelve months of settlement. Source and full eligibility requirements: https://www.sro.vic.gov.au/first-home-owner Or or feel free to get in touch with any questions you may have. * Information is current at date of publishing. Always confirm your eligibility with the State Revenue Office. See more

15.01.2022 C A S H M O N E Y Which banks are currently offering cash back for refinancing in Australia? DM for more detail and T&Cs.... #mortgagebroker #mortgagespecialist #refinanceloans #financechick #homeloans #mortgageloans #homeloansaustralia #loansigningagent #businessloans #loanssavelives #loanschangelives #loansigning #quickloans #loanservice #loanservices #quickenloans #personalloans #australianhomes #loanseekers #constructionloans #loanspecialist #privateloans #aussiehomeloans #makeahouseahome #loveourhome #sellahome #homesale #newhomes #realestateaustralia See more

14.01.2022 It’s Q & A time! Some frequently asked questions answered regarding home loans and the role I play as a mortgage broker - straight from my lounge room to yours I’ll be doing a few more of these finance and home loan related videos whilst in lock down, so if you have a question, feel free to send them my way! ... #homeloans #mortgagebroker #firsthomebuyervictoria #fhog #firsthomebuyerloans #financetips #slf #straightlinefinance #nancywangmortgagebroker

12.01.2022 G U A R A N T O R L O A N S For many First Home Buyers, saving enough of a deposit for their first home is the biggest hurdle. Guarantor loans are one option to consider- so how do they work? If you are a First Home Buyer with excellent credit and an adequate income but limited deposit, having parents as security guarantors can allow you to borrow more than 80% of a property’s value without paying Lenders Mortgage Insurance.... Generally, guarantors need to be Australian Citizens or Permanent Residents with available equity in their property. Ideally, the guarantors have an investment property with little or no debt- when this is the case, the guarantors’ own income generally does not need to be verified. Guarantors are advised to seek legal advice in order to be aware of the risks and responsibilities involved when guaranteeing a loan. With a guarantor loan, the First Home Buyer can often borrow 80% against the purchase property, and an additional amount (for example 20%) against both the purchase property and their guarantors’ property. Once that additional amount has been repaid, the guarantor can be released from further liabilities. Want to find out more about guarantor loans? Just ask!

06.01.2022 C R E D I T H I S T O R Y C H E C K Prior to obtaining a loan or a credit facility, the lender will always run a credit report to check your eligibility. A credit report is a detailed log of all of your lines of credit and credit-based activities. It includes your current credit liabilities like loans or credit cards, and all credit enquiries for credit services or payment plans services such as AfterPay. There are three credit bureaus, each of which create their own re...port Equifax, Experian, and Illion and use it to help lenders decide whether you're a good candidate for credit. These credit reports can have a significant impact on your overall financial picture. With good credit, you may be able to secure lower interest rates on financing and save money every month. Good credit can make it easier to get approved for the things you need too, like rental lease, mortgage, or car loan. Because your credit reports are so important, it can be a big deal when mistakes and errors happen. If a credit reporting mistake occurs, it could cost you more money or make it difficult to secure housing, transportation, and sometimes even job opportunities. The best way to discover whether you have credit reporting errors is to check your three reports from Equifax, Illion, and Experian. You are entitled ONE free copy of your credit report from each of the three credit bureaus every 12 months. Checking your credit report regularly can also help detect any signs of identity theft early. I, personally have just had to go through a very lengthy process to correct my credit report due to a case of identity theft. Can I just say, not fun! I can’t stress enough how often this happens and how important it is to get onto it early. If you‘ve been a victim of identity theft and don’t know what to do, go to: https://moneysmart.gov.au/banking/identity-theft

04.01.2022 F I R S T H O M E B U Y E R S A range of assistance is available for FHB from the Australian government. Are you maximising you’re opportunity to owning your first home? DM for more detail and T&Cs. ... #mortgagebroker #mortgagespecialist #refinanceloans #financechick #homeloans #mortgageloans #homeloansaustralia #loanssavelives #loanschangelives #loanservices #personalloans #australianhomes #loanseekers #constructionloans #loanspecialist #privateloans #aussiehomeloans #myfirsthome #loveourhome #homesale #newhomes #realestateaustralia #fhog #firsthomebuyeraustralia #fhb See more

01.01.2022 C O N S T R U C T I O N L O A N S There are suburbs throughout Melbourne where buying land and building is very popular. So how does it all work?... If you have a block of land you’re planning to build on, once you’ve chosen your builder it’s time to arrange your construction loan. If you sign a standard HIA contract with a builder your repayment schedule should look similar to the industry standard: Deposit: 5% Base: 10% Frame: 15% Lock Up: 35% Fixing: 25% Completion: 10% If your construction loan amount is less than the building contract price, you will need to pay your contribution to the builder before your lender releases any funds. As the builder reaches each specified stage, they will issue you with an invoice. You will then sign off on this invoice and send it to your lender to release these funds to the builder. When building, you need to take the additional expense of living elsewhere during the construction phase into account. You’ll only need to make repayments against the loan amount that has been drawn down. Once the loan is fully drawn down, occupancy permits have been issued and final checks completed, you’re ready to move into your new home! For more detailed info, feel free to ask. I’d love to help.

01.01.2022 L O A N P R O C E S S I N G T I M E S Loan processing times (SLAs) can differ drastically between lenders. If you need a loan approved quickly, you may need to consider who you go with to avoid chances of the application not being approved in time. SLAs can change quickly, for more info, send me a DM. ... #mortgagebroker #mortgagespecialist #refinanceloans #financechick #homeloans #mortgageloans #homeloansaustralia #loansigningagent #businessloans #loansigning #quickloans #loanservice #loanservices #personalloans #australianhomes #loanseekers #constructionloans #loanspecialist #privateloans #myfirsthome #sellahome #homesale #newhomes #realestateaustralia #loans #credit #cashflow #financebroker See more