Home loan guides
Plain explanations of how home loans actually work, so you know exactly what you're choosing between. One question per guide, answered properly.
Can you avoid paying LMI?
Often, yes. Doctors, nurses, accountants and lawyers can borrow up to 95% without paying a cent of mortgage insurance, and a fourth route waives it on financial strength alone. Who qualifies, and what it saves on an Eastern Suburbs purchase.
Is the money in redraw actually yours?
No. Extra repayments go onto your debt, not into an account. Redraw is the bank offering to lend it back, and it can say no. The three times that happens, and why it matters most if you own an investment property.
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Send me your income structure and I'll tell you which lender policies work in your favour, and what each one would approve.
The guides on this page are general in nature and do not take your objectives, financial situation or needs into account. Worked examples use the assumptions stated on each page, and lender policies and rates change.