First Home Buyers

Congratulations on taking the important step towards purchasing your first property! We understand that this may seem overwhelming and that you may have many questions about the process. Whether you’re just starting to save for a deposit or you’ve already found your dream home, our team at Mortgage Palace is here to support you every step of the way.

As first-time buyers, we know that this is an exciting and sometimes daunting journey, but we’re here to make it as easy and stress-free as possible. With our team of experienced brokers, support staff, we’ll guide you through the process and ensure that you have all the information you need to make informed decisions.

With access to a wide range of lenders, we’ll work to secure the best interest rate and home loan.

Refinance

Refinancing a loan involves paying out the current loan by taking out a new loan, either through your existing lender or a different one. Refinancing allows you to get a better deal and find a product which is the right one for you.

There are various reasons you can refinance your home and use your equity for. These include home renovations, holidays, car loans, and/or even to purchase an investment asset.

 Benefits of Refinancing

There are several incredible benefits of refinancing your loan. Here are essential factors you should evaluate before choosing to refinance a current loan:

• Secure a better interest rate
• Get lower monthly repayments
• Opportunity for better features
• Get control of debt
• Tap into your home equity (equity – the difference between your property value and the amount owing)
• Switch to variable interest rate from fixed interest rate, and vice versa
• However, it’s essential to note that refinancing comes with some costs. There may also be borrowing costs, including loan application fees, valuation fees, and settlement fees. Additionally, Lenders Mortgage Insurance (LMI) may be applicable if you borrow more than 80% of your home’s value, and stamping charges.
• Our team will help you understand all of these costs and determine if refinancing is the right choice for you. With a wide range of lenders to choose from, we’ll ensure that you get the best refinancing rates and loan structure to meet your needs. So, if you’re ready to explore your refinancing options, contact us today!

Self-employed

We understand that navigating the financial landscape can be overwhelming and stressful, especially if you’re self-employed or have a complex financial structure.

If you are self-employed, obtaining a home loan may seem daunting, but it is definitely achievable. At Mortgage Palace, we have years of experience helping self-employed individuals find the right loan for their needs. We understand that not everyone has the same documentation as a salaried employee, but that should not deter you from pursuing your dream of homeownership.

We offer two types of loans for self-employed individuals: Full Doc and Low Doc Home Loans. With a Full Doc Home Loan, you will need to provide all of the usual documentation that a salaried employee would need to provide, including tax returns and financial statements. On the other hand, a Low Doc Home Loan requires less documentation and is designed for self-employed individuals who may not have all the usual documentation.

Regardless of the type of loan you choose, we can help you navigate the application process and provide expert advice on the right loan for your needs. Don’t let being self-employed stop you from achieving your dream of owning a home or investment property – talk to our team today!

Investment loans

Investing in property can be a great way to grow your wealth over the long term. It’s important to understand that investing in property is a long-term commitment and requires careful consideration.

There are many different types of properties that can be used for investment purposes such as residential, commercial, industrial, or even rural.

Here’s how we can help enhance your value as an investor:

• Finance Strategy: We’ll work with you to create a tailored finance strategy that aligns with your specific goals, whether that’s creating wealth or building a long-term investment portfolio.
• Lender Selection: With our extensive knowledge of the lending market, we’ll help you select the right lender to maximise your borrowing capacity and protect your assets, all while finding the most competitive interest rates available.
• Loan Comparison: We’ll provide a detailed breakdown of both major and non-major lenders in the market, giving you a clear picture of expected repayments and costs.
• Loan Structures: We’ll help you create a loan structure that’s designed to yield long-term benefits for your individual requirements.
• Market Valuation & Suburb Profiles: We offer comprehensive comparative market analysis for selected properties, along with detailed suburb research reports, to help you make informed decisions about your investments.

So if you’re ready to take the leap into property investing, give our team a call and let us help you create wealth through real estate.