A mortgage or a loan? What’s the difference? The terms mortgage and loan are often used to describe the same thing, but are they the same? The short answer is no. A mortgage and a loan are different beasts, though closely related. When you apply to a bank or lender for a home loan, you […]
Housing wants vs housing needs
Housing wants vs housing needs-the more you want the more you pay. Housing in many parts of Australia is expensive and getting more so each year. There are numerous reports calculating the high ratio of household income to property prices and can make scary reading. But it’s not the whole story. Australian Bureau of Statistics […]
Low home loan interest rate
RBA Rate Cut vs Borrowing Power
Yesterdays RBA Rate Cut vs Your Borrowing Power You’re probably all aware that the RBA rate cut reduced the cash rate by 0.25% yesterday. The first RBA rate cut in a year. There are two possible implications of this move; Will house prices increase because people can borrow more money? Will house prices increase because […]
Two important numbers
Two important numbers that limit your property purchase price. When you decide to purchase another home there are two important numbers that will limit the amount you can spend. They are; The size of your savings, and The amount you can afford to spend on your loan repayments each month. When I say the amount you […]