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Lime Mortgage Brokers Perth

How to get a home loan if you are Self Employed?

by Kylie Robinson
You run your own business and you have probably asked yourself what you need to do to get a home loan? You may have heard it is a little harder for someone who is running their own business? Or that you will need to jump through a few more hoops to get one? You will be happy to know that this is not always the case. Yes, you may require a little more information and have to be on top of your books, but with the right guidance it can be a breeze! If you are looking to buy your […]

MISTAKES OFTEN MADE BY FIRST HOME BUYERS – and how to avoid them!

by Kylie Robinson
In this Blog we are going to share some of the common mistakes that First Home Buyers often make so you can avoid them. Please read on and if you think we may have missed anything we would love to hear what you to have to say! THINKING THAT YOU NEED A 20% DEPOSIT Having a 20% deposit is always great but let’s face it, with today’s living expenses and costs this is out of reach for a lot of people and one of the hardest things you will have to do. If you are looking at a house around […]

MORTGAGE TERMS YOU NEED TO KNOW..

by Kylie Robinson
Here at Lime Mortgage Brokers we wanted to help you understand some of the Mortgage terms that are often used but often misunderstood. We hope you find these useful and that they give you some clarity. LOAN TO VALUE RATIO OR LVR Loan to Value Ratio basically means the proportion of your home loan from the total value of your home. This term is very common amongst lenders and is used to assess the risk they are taking. If you are looking at a property that is $700,000 and you need to borrow $500,000 then your LVR is 71% ($500,000/$700,000 […]

How to manage “Mortgage Stress”

by Kylie Robinson
According to research, and several reports, over a third of households will suffer from mortgage stress. We have put together some information for you to help prevent this or deal with this, if you are already there. Home buyer stress usually arises when funds are low and we live beyond our means. Interest rates rise, we are faced with unemployment, we are met with unexpected medical expenses or the house market becomes sluggish can be some of the causes for this. So how can we prevent mortgage stress? PREPARE FOR THE FUTURE No-one really knows what the future holds for […]

YOUR CREDIT SCORE – What can affect it?

by Kylie Robinson
Your credit score or credit rating is one of the most important factors in your financial life. We are going to look at some of the things that can affect your credit score and some of the things that you may be able to do to improve it. Firstly, let’s take a look at the things that can have an impact on your credit rating. 1.LATE PAYMENTS AND MISSED PAYMENTS Making sure that you pay everything on time is probably one of the most important factors in maintaining a healthy credit score. Missed payments and consistent late payments can result […]

Refinancing – Should I do it?

by Kylie Robinson
Have you been thinking about refinancing your home loan but are unsure if this is right for you? We are going to look at this for you and hopefully answer some of those questions you may have. Most people choose to refinance to obtain a lower interest rate, however, there are other reasons that people may choose to do this, which we will explore for you. LOWER INTEREST RATE Obtaining a lower interest rate may lower your monthly repayments and is a great way to free up cashflow to help meet the demands of everyday life, especially if you have […]

Cheap ways to increase the value of your home!

by Kylie Robinson
Thinking of selling your home and want to increase the value without spending huge dollars? Then this article is for you. We have found some cheap ways to spruce up your home to make it more appealing to a buyer. You can also use these ideas if you are just looking to give the home you are living in a face lift. Let’s begin with the outside! BACKYARD AND FRONTYARD Do you have some spare space in your yard or on your porch? Why not create a seating area, place a nice setting out the front or set up a […]

Big Banks Vs Small Banks – Who should you choose?

by Kylie Robinson
So, it’s come time to decide on a lender for your home loan. Many of us choose to approach our own banks at the beginning, not taking the time to shop around and consider other options. Maintaining a competitive rate on your mortgage can save you tens of thousands of dollars over the life of your loan. We feel it always pays to shop around! Here are some of the perceptions out there around small lenders: My debt will not be secure – remember you are holding the banks money, it’s them that have to make sure you are secure. […]

HOW TO GET HOME LOAN PRE-APPROVAL!

by Kylie Robinson
Are you ready to purchase a new home? A pre approval is a great way to let the seller know you are ready to buy and you have enough money. For most people buying a home means getting finance and one of the first steps on this journey is getting your pre-approval. Pre-approval, also known as conditional approval or approval in principle is an indication from your lender as to the amount of money you will be able to borrow. Getting a pre-approval lets vendors and agents know that you are serious about buying a property. WHAT IS A PRE-APPROVAL? […]

HOW TO MAKE YOUR HOME EQUITY WORK FOR YOU!

by Kylie Robinson
So you may ask yourself what this is…. In this article we will try and explain what home equity is and how it works as well as tips on how to build up your home equity. SO WHAT IS HOME EQUITY? Putting it simply, home equity is the part of the home that you own, the portion that you have paid off. It is calculated by taking the value of your home and how much money you still owe. If there is any left over then this is the equity that you have! HOW DOES HOME EQUITY WORK? Firstly, you […]