Author: MAXISLoans
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The Impact of Job Stability on Home Loan Approval
Job stability is a crucial factor when it comes to applying for a home loan. Lenders want to ensure that borrowers have a steady source of income to make their monthly mortgage payments on time. As a result, the impact of job stability on home loan approval cannot be understated. In this article, we will…
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What Are Family Pledge Loans and How Can They Help You Buy a Home?
Family pledge loans are becoming an increasingly popular option for individuals or families looking to purchase a home. This type of loan involves a family member, typically a parent, using their own home equity or savings as security for the loan. In essence, the family member acts as a guarantor for the borrower, allowing them…
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Fixed Or Variable Personal Loan
Personal loans are a popular financial tool for individuals looking to borrow money for various purposes, such as debt consolidation, home renovations, or unexpected expenses. When considering a personal loan, one of the key decisions borrowers need to make is whether to opt for a fixed or variable interest rate. Both options have their pros…
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How Do Banks Calculate Your Borrowing Power?
When you apply for a loan or a mortgage, one of the key factors that banks consider is your borrowing power. This is essentially the maximum amount of money a lender is willing to loan you based on various financial factors. Understanding how banks calculate your borrowing power can help you better prepare for the…
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The Role of a Mortgage Broker vs. Bank Lender: Which is Better?
When it comes to purchasing a home, securing a mortgage is a crucial step in the process. This decision involves choosing between working with a mortgage broker or a bank lender. Both options have their own set of advantages and disadvantages, and understanding the role of each can help you make an informed decision that…
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Major Banks, Including Westpac, Slash Home Loan Rates Amidst Rate-Cutting Trend
Westpac has recently made headlines by slashing its advertised home loan rates by over 1%, positioning its rates among the lowest offered by major banks. The bank’s move to cut rates on its packaged variable home loans for both owner-occupiers and investors has garnered attention in the competitive mortgage market. Home Loan Interest Rates in…
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Home Loan Approval Time
Buying a home is a significant milestone in many people’s lives, but the process can be overwhelming, especially when it comes to securing a home loan. One of the most crucial aspects of getting a home loan is the approval time. Understanding how long it takes for a home loan to get approved can help…