Tag: home loan calculator
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RBA Rate Cuts Spark Optimism and Concern in Housing Market
As the Reserve Bank of Australia takes steps to ease monetary policy, interest rates are on a downward trajectory. This move has sparked optimism among potential home buyers, with mortgage pre-approvals showing an increase. Anticipation of further rate cuts in the near future has led some economists to predict a potential surge in house prices,…
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Maximize Financial Benefits: Conduct Home Loan Health Check Before EOFY
As the end of the financial year approaches, it’s crucial to conduct a home-loan health check to ensure your mortgage aligns with your financial goals. This assessment can reveal potential savings, enhance financial security, and aid in retirement planning, particularly for older Australians. The Australian Guide to Buying Your First Home: How to Increase Your…
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First-Time Homebuyers Benefit from Lower Deposits Amid Government Support
First-time homebuyers in Australia are entering the property market with significantly lower deposits, with data indicating that they are now contributing only 8 per cent upfront for their home loans. This trend is fueled by government incentives and financial support from families, making homeownership more accessible. Recent research by Great Southern Bank highlights that a…
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Queensland Launches ‘Boost to Buy’ Scheme for Homebuyers
Queensland has recently unveiled its own shared equity home loan scheme, known as the ‘Boost to Buy’ initiative. This program will see the state government contribute up to 30% towards new builds and 25% for existing homes, allowing homebuyers to enter the market with just a 2% deposit. The scheme is designed to reduce the…
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Homeowners Urged to Review Loans Amid Tax Season Surge
As the financial year comes to a close, many individuals turn their attention to their financial standing, particularly those with property investments gearing up for tax assessments. Given that a home loan is often a significant financial commitment, this juncture presents an opportune moment to evaluate the adequacy of your existing loan in meeting your…
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Choosing Between Fixed and Variable Home Loans: A Comprehensive Guide
When deciding on a home loan, whether fixed or variable, your choice should align with your financial situation and objectives. Investing in property requires careful consideration of factors like location, rental demand, and risk tolerance. Understanding the nuances of different property types is crucial in making informed investment decisions. The Ultimate Guide for Home Buyers…
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Factors Affecting Home Loan Borrowing Capacity Explained
When considering purchasing a property, one of the crucial aspects to determine is how much you can borrow for a home loan. Your borrowing capacity significantly influences the properties you can explore and the neighborhoods you can consider. Various factors come into play to ascertain the amount you can borrow. The Ultimate Guide for Home…
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Australian Banks’ Lucrative Home Loan Profits Spark Regulatory Concerns
Home lending is a lucrative business in Australia, with the big four banks raking in substantial profits from owner-occupier housing loans. According to recent research by the Australia Institute, these banks make an average profit of $200,880 on a 30-year home loan. This profit margin is significantly higher than the global average, showcasing the profitability…
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NAB Reduces Home Loan Rates to Aid Customers Amid Economic Shifts
NAB has recently announced a reduction in its standard variable home loan interest rate by 0.25% per annum, effective from the end of May 2025. This decision comes in response to the Reserve Bank of Australia’s move to lower the official cash rate, offering relief to customers grappling with the ongoing challenges of living costs.…
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Canstar Analysis Reveals Shifts in Australian Home Loan Rates
Amidst a recovering Australian housing market, Canstar’s recent rate analysis revealed significant shifts in home loan rates. The market saw a surge in activity following a rate cut that boosted buyer sentiment, marking the end of a downturn in the housing sector. The Australian Guide to Buying Your First Home: How to Increase Your Income,…