Home Loan Centre
First Home Buyers
Next Home Buyers
Refinance An Existing Home Loan
Purchase A Property At Auction
Buy Land And Construct A New Home
Investing In Property
Using Property Equity To Create Wealth
Renovate Your Home or Investment Property
If you’re looking for an easy and simple home loan solution, you’ve come to the right place
Applying for a home loan
The application process will vary depending on your financial standing and your reason for taking out the loan. No matter your situation, you will need to ensure you have all your ducks in a row before you can make an application.
Lenders are most concerned about your ability to meet your repayment obligations over the life of the loan. Having the following information and documentation handy will help move the process along faster and smoother:
Income: proof of your income level and your earning potential
Assets: what assets do you own and how liquid are they?
Liabilities: financial liabilities relate to what you owe
Living expenses: how much do you spend to sustain your lifestyle?
In short, you need to show the mortgage lender that you can comfortably meet your home loan repayments without the loan causing you financial hardship. It’s really important you get this process right. Chat with our team if you need some help getting all the right documentation in order.
Taking out a second home loan
If you’re looking to buy another home or a house for your children to move into, it is possible for you to take out a second mortgage. The process will be very similar to how you took out your first home loan though the lending institution will require the details of your existing mortgage and the equity in your current property to assess your financial standing.
If you took out your first loan some years back, it may also be worth considering whether that loan is competitive on the current market. Over time, some loans become less competitive when the market offers more competitive rates.
If you are thinking about taking out a second mortgage, it is worth checking to see if you can also get a better deal on your existing loan. This can be a tricky process involving negotiations with your current lender. Our team’s expertise shines through when it comes to negotiating the best deals for locals like you.
Curious to see how your home loan compares or how much you can borrow for your second home? Chat with our team today and we’ll have a look at how you can get the best out of your home loan.
Bridging loans for your second property
Bridging loans exist to help second home buyers, who are looking to move, purchase another property with the intention of selling their existing one. If you’re in this position, you can take out a bridging loan to help you purchase the second property before the sale of the first one is finalised.
A bridging loan is typically an interest-only home loan and it has a limited loan term. The amount of equity you have in your current property will impact the extent of your bridging loan.
You’ll effectively be taking out another home loan against the value of your existing property. Until you sell your current property, you’ll have two loans and both loans will be charged interest.
Different lenders offer different loan structures. With some lenders, it may be possible to delay repayments on the bridging loan until your existing property is sold. With other lenders, you may not have this flexibility and you may need to make payments on both the loans from the time the new loan is opened.
When your current home is sold, the bridging loan will become your chosen home loan for the new property.
Home loan pre-approval
At Time Home Loans, we are renowned for doing our homework upfront. Our clients enjoy benefits such as:
Confidence in their capacity to borrow
Buying properties within their range
Minimal risks taken during the loan application process
Access to finance within 7 days of the loan application
Having a loan pre-approval handy is the secret here. Our team will help you get together everything you need in order to apply for a home loan with confidence.
What makes Time Home Loans different?
Finding the right home loan takes time. Hours of research, meetings with advisors and lending institutions, time spent creating the perfect negotiation proposal and not to mention the time it takes to fill out all the paperwork.
Without Time Home Loans on your side, you will spend a great deal of time deciding how to go about investing in one of your life’s greatest assets. You might save some money in the process but you could equally end up paying thousands more.
With our team on your side, you will save hours of your time and thousands of your dollars. We make the complicated process of getting a home loan easy and simple.
While we can’t help you buy more time, we can help you buy your dream home. Spend your valuable time focusing on the things that really matter to you. We’ll take care of the rest.