Borrowing Capacity vs Budget Capacity A phrase I heard many years ago has stuck in my mind and encapsulates the title of this article. “Just because the bank says you can borrow a certain amount of money doesn’t mean you can afford to.” It neatly sums up the difference between your theoretical borrowing capacity i.e. […]
Fortnightly Loan Payments
Fortnightly loan payments pay off loan faster? A question I am often asked is whether fortnightly loan payments will help pay off your home loan faster. The answer is…it depends. It depends on how your bank or lender calculates your fortnightly loan payments. Yes there are two ways of calculating the payment. One will accelerate the repayment […]
Smarter Finance
Increasing Your Wealth with Smarter Finance Wealth = What you own –What you Owe. In a lending sense, any ideas we can implement that reduce the amount of your money being used to pay interest on your home or investment loans increases your wealth. This can take two forms; You retain more money in your bank […]
Begin with the end in mind
If you have read Stephen Covey’s famous book, The Seven Habits of Highly Effective People you will be aware that Habit #2 is “Begin with the end in mind“. This habit can be directly applied to the humble home loan. In this context, the “end” is the repayment of the loan. There are two main ways repayment […]
Mortgage Brokers help borrowers
Six ways Mortgage Brokers help borrowers. As a potential borrower you have many choices as to how you obtain your next home loan or investment property loan. If you haven’t used a mortgage broker such as myself before, here are six key ways a Mortgage Brokers help borrowers. Lender policy niches- This is a hugely […]
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