Lenders Mortgage Insurance (LMI) protects the bank — not you — if you default.

How to avoid it:
* Save a 20% deposit
* Use the First Home Guarantee (5% deposit, no LMI)
* Use a guarantor (family pledge)

There are options. Let's find yours.

#LMI #LendersMortgageInsurance #FirstHomeBuyer #MortgageChoice #HomeLoan

Is Your Credit Score Ready to Buy ?

Lenders check your credit score before approving any loan.
What helps:
* Paying bills on time
* Reducing credit card limits
* Avoiding multiple loan applications

What hurts:
* Defaults or late payments
* High card Utilisation
* Too many credit enquiries

Contact us to Learn More

#CreditScore #HomeLoan #FirstHomeBuyer #MortgageTips #MortgageChoice

Can I Buy with a Friend or Partner

Yes — and more people are doing it than you'd think.

Joint applications can increase your borrowing power significantly. But there are things to sort out upfront:

Whose name is on title?
Tenants in common vs joint tenants
What happens if one person wants to sell?

Contact us to Learn More

#JointHomeLoan #FirstHomeBuyer #Cobuying #MortgageAdvice #MortgageChoice

Saving for a Deposit While Renting? Here's How ??

Paying Rent & Saving for a Deposit is Tough — but it's done every day

Strategies that work:
First Home Super Saver Scheme (FHSS) — save inside super, withdraw up to $50K
Automate savings the day you get paid
Review subscriptions & spending leaks
Explore guarantor options (family pledge)

Contact us to Learn more

#SavingForAHome #FirstHomeBuyer #FHSS #DepositSavings #MortgageChoice

Fixed Rate Vs Variable Rate

Fixed rate:
* Repayment certainty
* Protection if rates rise
* Less flexibility

Variable rate:
* Offset accounts, extra repayments
* Rates can fall
* Repayments can increase

Split loans give you both. There's no one-size-fits-all.

Contact us to Learn More #FirstHomeBuyer #MortgageChoiceAustralia #HomeOwnership #Melbourne #MortgageBroker
#FixedRate #VariableRate #HomeLoan #FirstHomeBuyer #MortgageChoice