Map Home Loans

Specialists in temporary & non-resident home loans

Australian Callers: 1300 397 287

Overseas Callers: +613 9956 9321

Free $25,000… If You Build Or Renovate.

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The government is keen to keep the construction sector humming along in the wake of the Corona Virus shut down. It’s no secret that it’s a key plank of our economy. In order to spur things along the federal government is looking to cut you a cheque for $25,000 if you build a new home or undertake a ‘major’ renovation starting between June 4 and Dec 31 this year. In case you have been living under a rock, it’s called the HomeBuilder Program. The best news for all of us is this is an uncapped program. Anyone who follows the rules and meets the criteria will get the grant. Unlike the first home loan deposit scheme which has a capped number of applications – which created a bit of a rush, Homebuilder will be granted to every applicant. You can apply for multiple programs with a single project based on your eligibility – such as state level first home owners… Read More

A Master List For Surviving The Lockdown

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Everyone here at Map Home Loans is here for you through the Coronavirus lockdown and beyond. We are all working really hard to make sure every one of our clients is ready to meet their challenges. We are in Lockdown Obviously the lockdown has meant the Vaughan family has gone in to lockdown too. Which means… I’ve gone and made lemonade from lemons by binge watching some of my favourite TV series to escape all the depressing news. Secretly, you wouldn’t believe how happy I am about not being able to go anywhere. I compiled a list of shows that I like and I believe are re-watchable and hopefully will stimulate your mind and provide some entertainment during the lockdown. Podcasts Serial (all seasons although Bowe Bergdahl is a little hard to get through) Dr Death (OMG!!) Casefile – selected episodes but I particularly enjoyed case 53. Selected Joe Rogan. (Pick the guests you think will be interesting. Audibles (They… Read More

FHLDS – First Home Loan Deposit Scheme – How to avoid the waiting list

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What is the FHLDS Scheme? Usually first home buyers are required to have saved up a 20% deposit or take out lenders mortgage insurance (LMI). The FHLDS scheme is a new scheme guaranteeing 10,000 low deposit home loans with the borrowers only requiring as little as a 5% deposit and without paying lenders mortgage insurance. This could save first home buyers $10,000- to $40,000 depending on deposit size, loan amounts etc. Are there any spots left? When the First Home Loan Deposit Scheme (FHLDS) released 10,000 spots – 5,000 were released to the NAB and CBA. These 5,000 spots filled up almost immediately. The remaining 5,000 spaces were released to 25 ‘non-major lenders.’ Whilst the NAB and CBA no longer have any available spots, there are still spots available with these 25 non-major lenders. Same opportunity, better rates and packages are on offer… in fact there is no negative except the name of the lender. What are the Conditions? The… Read More

Covid-19 Update and Financial Relief

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Covid-19 Loan Repayments If you’re concerned about your loan repayments during this Covid-19 crisis, please reach out to your broker who can guide you through the process of obtaining some relief. We are here to assist you through this process including helping you complete the forms to apply. Relevant Links here for packages available: CommBank: https://www.commbank.com.au/latest/coronavirus.html… ANZ: https://www.anz.com.au/perso…/home-loans/your-loan/covid-19/ NAB: https://www.nab.com.au/…/c…/covid19-help/home-owners-support Westpac: https://www.westpac.com.au/help/disaster-relief/coronavirus/ St George: https://www.stgeorge.com.au/about/sustainability-and-community/disaster-relief/covid-19?pid=iac:br:COVID_2003::hpg_a Macquarie: https://www.macquarie.com/au/personal/forms/financial-hardship ING Direct: https://www.ing.com.au/help-and-support/tips-hints-guides/financial-hardship.html Suncorp: https://www.suncorp.com.au/banking/help-support/financial-difficulty.html AMP: https://www.amp.com.au/home-loans/financial-hardship Bankwest: https://www.bankwest.com.au/personal/guides/financial-hardship-assistance Other Financial Relief The Government announced new measures on 22 March 2020 to provide support to affected workers, businesses and the broader community. Financial support is available to help you manage the affects of the coronavirus. Watch out for scammers who try to take advantage of coronavirus (COVID-19). Scams can take many forms. Be wary of offers to assist you access your superannuation or high-return investment opportunities. The Government, Reserve Bank of Australia and the Australian Prudential Regulation Authority have taken coordinated action to support the flow of credit in the… Read More

Why two properties are better than one investment property

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How buying an investment property can save you money and provide an income. It might seem challenging enough to buy one investment property, so why would you buy two? Well, while it might seem counter-intuitive to increase your borrowing, buying an investment property can help you pay off your mortgage sooner. Of course, it will often depend on your income and how your loans are structured, but an investment property offers benefits that help you pay off your loans sooner. Tax benefits The ideal scenario for an investment property is that it is what we call “positively geared’. This means that you receive more rental income than you need to pay off the mortgage and other costs such as property management. However, it’s unusual to find a positively geared property. Most investment property costs aren’t covered by rental income. To make up the difference, you need to top up that income from your savings. And this is where the tax… Read More

How to buy Australian property as an expat or non-resident

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The ABC of buying Australian property as an expat or non-resident When you’re not living in the country (expat) or you’re being paid in a currency other than Australian dollars, it can prove slightly more challenging to buy property in Australia. Living abroad or being a temporary resident when purchasing property in Australia has a whole host of challenges, none of which are insurmountable. The trick is to know of them in advance to help you with your planning and to ensure that you have the right people on your team to make it happen. Follow our guidance to make sure you secure your loan. Top tips for expats buying property in Australia a. Get your paperwork in order This tip isn’t only for expats or non-residents; it’s for anyone who intends to apply for a loan. Most lenders want to see at least three months’ worth of savings, payslips and credit card statements. However, to give yourself the best… Read More

Home renovations on a budget in Australia

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Your first home might not be exactly what you want but you can make cosmetic changes until you decide on what you really want. Paint, new floor coverings, taps, cupboard doors and handles, regrouting, screens/room dividers and better lighting can all refresh your home. And remember that your mortgage broker can often increase your mortgage to fund some of these renovations. Top 5 tips for a budget home renovation 1. Do the big-impact stuff first Walls and floors occupy the greatest area so have the largest impact so they’re what you want to fix first. But before you do anything, if you’ve bought an older home, it could probably do with a good clean. So hire a pressure cleaner (or engage a company that does this) to clean the exterior including paintwork, bricks, roof and driveway. Walls Whatever article you read about budget renovations, you’ll see that ‘painting’ features in all of them. There’s a good reason; new paint doesn’t… Read More

New Book: The Smart Borrower’s Roadmap

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The gift that keeps on giving: my new book. If you’re like most of us, you’re more optimistic than ever that you’ll be able to own your own home or buy an investment property. But where do you start? Well, to help you out, I wrote a book. Quite a long book. The reason it’s so big is I wanted to pack in as much information as I could about buying property in Australia. But, I hear you ask, aren’t there many other books on mortgages and borrowing? Yes, there are, but they tend to be aimed at those on six-figure salaries with standard 9 to 5 roles. Frankly, these people don’t need too much help, although they’ll definitely pick up some tips for paying down a mortgage sooner. There are so many potential home owners out there who fall outside the spectrum within which lenders are comfortable lending. My book covers these home loan or investment loan borrowers and… Read More

Reserve Bank of Australia – December 2019 Update

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The Reserve Bank of Australia (RBA) has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%. In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government spending on infrastructure and signs of improvement in the resources sector. The RBA will be keeping a close eye on household consumption and the GDP numbers being released later this week as it stays focused on the aim of restoring inflation to within its target range of 2 – 3 %. From behalf of the MAP Team – we would like to wish everyone a Merry Chrsitmas and a Happy New Year!

Reserve Bank of Australia – August 2019 Update

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Interest Rate Update Since the election this year there have been two interest rate changes, a new prime minister and the banks have lowered their assessment rates. August is the first month where things appear to have stabilised. This is true for todays RBA announcement with the RBA deciding to keep the cash rate on hold at the historical low of 1%. Many economists will tell you that a lower cash rate is a reflection of the lack of business confidence in our economy. So whilst those of us with Home Loans would like to see our minimum monthly reduce as much as possible, it can be a double edge sword. So to close on that, no changes this month (August) to the cash rate. A reminder that there are some amazing fixed rates on the market below 3% with some lenders already pricing in 1-2 more rate cuts. And anyone with a variable rate mortgage with P&I repayments should… Read More

Get Your FREE Quick Start To Financing Australian Property

In this Guide, you’ll discover…

  • What Information is required to receive a 100% “Fully Checked and Verified Finance Pre-approval”
  • How credit policies vary between lenders
  • What Foreign Investment Review Board (FIRB) restrictions apply

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Your privacy is 100% guaranteed. Your information will never be shared.

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ENQUIRE NOW For Your Free 30 Minute Home Loans Strategy Session

In this FREE phone consultation, you’ll discover…

  • Can you get approved for a home loan
  • How much you can borrow
  • What deposit you will need

And, much more – We will answer any of your questions!

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Your privacy is 100% guaranteed. Your information will never be shared.

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Get Your FREE Quick Start Guide To Financing Australian Property for Spouse/Partner Visa

In this Guide, you’ll discover…

  • What Information is required to receive a 100%
    “Fully Checked and Verified Finance Pre-Approval”
  • How credit policies vary between lenders
  • What Foreign Investment Review Board (FIRB) restrictions apply

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

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Get Your FREE Quick Start Guide To Financing Australian Property for 457 Visa Holders

In this Guide, you’ll discover…

  • What Information is required to receive a 100%
    “Fully Checked and Verified Finance Pre-Approval”
  • How credit policies vary between lenders
  • What Foreign Investment Review Board (FIRB) restrictions apply

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

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Download The Quick Start Guide To Financing Property for Australian Expats

In this Guide, you’ll discover…

  • What Information is required to receive a 100%
    “Fully Checked and Verified Finance Pre-Approval”
  • How credit policies vary between lenders
  • What Foreign Investment Review Board (FIRB) restrictions apply
  • This field is for validation purposes and should be left unchanged.

We respect your privacy.

 
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Get Your FREE Quick Start Guide To Financing Australian Property for New Zealand Residents

In this Guide, you’ll discover…

  • What Information is required to receive a 100%
    “Fully Checked and Verified Finance Pre-Approval”
  • How credit policies vary between lenders
  • What Foreign Investment Review Board (FIRB) restrictions apply

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

×
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FREE Strategy Session: Discover The Easiest & Fastest Path To Home Loan Approval (Even If You Don’t Have A 20% Deposit)

We allow you to…

  • Secure loan approval, even when other banks have said “no”
  • Increase your borrowing capacity
  • Pay lower interest rates
  • Fast-track your property purchase

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

×
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FREE Strategy Session: Discover The Easiest & Fastest Path To Home Loan Approval (Even If You Don’t Have A 20% Deposit)

We allow you to…

  • Secure loan approval, even when other banks have said “no”
  • Increase your borrowing capacity
  • Pay lower interest rates
  • Fast-track your property purchase

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

×
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FREE Strategy Session: Discover The Easiest & Fastest Path To Home Loan Approval (Even If You Don’t Have A 20% Deposit)

We allow you to…

  • Secure loan approval, even when other banks have said “no”
  • Increase your borrowing capacity
  • Pay lower interest rates
  • Fast-track your property purchase

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

×
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FREE Strategy Session: Discover The Easiest & Fastest Path To Home Loan Approval (Even If You Don’t Have A 20% Deposit)

We allow you to…

  • Secure loan approval, even when other banks have said “no”
  • Increase your borrowing capacity
  • Pay lower interest rates
  • Fast-track your property purchase

  • This field is for validation purposes and should be left unchanged.

We guarantee 100% privacy. Your information will not be shared.

×