In Australia, credit scores ranging from 500 to 699 are considered average, while 700 and above are categorized as good or excellent. A perfect credit score is 1,000, but only around 3.5% of borrowers achieve this rare feat. A score of 1,000 is akin to a financial unicorn.

When buying a property, your contract outlines crucial finance and settlement dates guiding the transaction process. But what do these two key dates actually mean and what happens on each one? Here we explain the difference simply to provide helpful clarity.

In the blog post, we will explain the ins and outs of refinancing, including the benefits, costs involved and the necessary paperwork to start the refinance process to help you decide if refinancing will benefit your financial wellbeing in the long run.

Utilizing an offset account can dramatically alter the course of your mortgage. By offsetting your savings against your mortgage, you reduce the interest payable, leading to potentially huge savings over the life of your loan.

Some practical tips:

According to the Australian Bureau of Statistics, Australians splurged a whopping $47.5 billion during last year’s Christmas shopping period. That probably made for a lot of blistered credit cards and debt hangovers come February!

One of the key players when it comes to Investing is your purpose. The more you are clear about your requirements to achieve through Investment, will gain you insights for the future, you are to seed today.

Construction loans are a specialized form of financing designed for buyers looking to build their dream homes or undertake property development projects.

Unlike traditional home loans, which are released as a lump sum, construction loans are released in stages, mirroring the progress of your construction project.

Cross-collateralization is when more than one property, usually an owner-occupied property and investment properties, are used as security for a single mortgage. This contrasts with having separate loans and securities for each property.With cross-collateralization, your lender stakes claim to all your pledged assets for any default, not just the property attached to the problem loan.

If you have a variable rate mortgage, you may have heard about using an offset account or redraw facility to help boost your cash flow. But what is the difference and which is better for you? Here at Investors Mortgage, we want to provide clear guidance on making the right choice to benefit your mortgage and finances overall.

This comparison explores the advantages of working with a mortgage broker over dealing directly with banks when securing a home loan. It highlights key factors such as fees, interest rates, product availability, borrowing power, loan structure, financial analysis, property discussions, and communication, demonstrating how mortgage brokers offer a more flexible and customer-centric approach.

An initiative by the government of Australia to help Australians achieve their home loan dreams. The scheme allows Australians to purchase their first home sooner with as low as 5% deposit.

Ready to buy a home? Discover the key steps: secure pre-approval, save for your deposit, organise your finances, define your needs, explore government assistance, and more. Plus, get expert advice from Investors Mortgage for a smooth home-buying journey. Your dream home is within reach!