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House and
Land Packages

There are a number of different scenarios when it comes to construction finance and its important that you deal with someone who can provide the right solution and guidance through all the different processes. Let our experience count for you.

 
 

Outlined below are
some of the more
common scenarios.

House and land packages (where construction and land purchase finance is sought at the same time)
Land already owned with or without a mortgage on it.
Subdivision. Perhaps with a dwelling on it and block to be subdivided and then construction on the vacant subdivision.
If you've built before, you'll know that there are processes from many different organisations that don't necessarily talk to each other which can make construction a little frustrating and sometimes complex.
 
An experienced banker or broker can guide you through this process but getting the bank to stay in touch with you with a status update or progress can sometimes wear your patience. If you do find a banker that does update you, that is rare but the only drawback is that they can only offer you a product from their bank.
 
A good broker, with experience can offer you the same as that bank and usually many more home loan options. Sometimes another bank or lender works out to be a better solution than the bank you've been banking with for years.

 

So what can
Front Line Financial
Solutions offer?

Usually we can offer more than one product or lender. Sometimes there is only one option which puts us at an advantage to the banks as we have a panel of lenders that we discuss your scenario with and can often get your loan approved.
Experience with different lenders
Communication between the various parties involved and there can be a number of them! Client, Land Agent, Bank, Settlement Agent, Builder and possibly others! As the Mortgage originator, we become the "middle man" at least You our valued client can consult us on things as they roll out.
Construction loans can cause headaches and extend the application and building process so why let an inexperienced consultant handle your loan? Front Line Financial Solutions Mortgage Consultants have strong banking backgrounds and are experienced in construction loans. As a broker, we "Make it happen". Liaising with all the parties necessary for building your number one investment can be daunting and generally there is no one person assigned to communicate with all the different parties. Here's where Front Line's Mortgage consultants set an example of going the extra mile. We can communicate with the parties involved, whether it be the land agent, builder or bank, we can make it happen!

 
 
 

First
Home Buyers

First-time home buyers, get the information you need and make the right decisions about buying your first home. Learn about the mortgage process, the right way to get a pre-approval and the home loan options available to you.
 
Confused about what getting pre-qualified or pre-approved means? You're not the only one. There's a big difference between a mortgage pre-qualification, a pre-approval and an actual mortgage approval.

 

Getting Pre-
Qualified for
a Mortgage

Getting pre-qualified for a mortgage helps give you an idea of how much you might qualify to borrow. But since you have not actually applied for a loan, and the lender only has your word on your credit, income, assets and liabilities, a home loan or mortgage amount is not guaranteed. With a pre-qualification, no information has been verified. If you receive a letter from the lender, it may only state that you are likely to be approved for a mortgage.

 
 
 

A Better
Solution

While it's helpful to be pre-qualified for a home loan, it doesn't always guarantee you'll be approved for a loan. Our pre-approved mortgage is based on your real credit score, and puts real estate agents and home sellers at ease. At the same time, you're in control when making an offer to a seller. They'll know you're a serious buyer who's ready and able to make a deal.
 
If you would like to learn more about the getting approved for a home loan, call us now on 08 6188 0131 and talk to a Home Loan Expert today.

 

Fixed or
variable?

Now that you've found a home, you need to find a way to finance it. But how do you know what kind of mortgage you need to get? Well, traditional thinking says that you should always get a traditional 30-year amortizing fixed rate mortgage. But everyone has different needs and no lender should put everyone in a "one size fits all".
 
These days, there are several mortgage loans that fit many different people for various reasons. But there are three basic types of mortgages that you should be aware of: fixed-rate, adjustable rate, and interest-only.
 
Each loan has advantages – make sure you choose the right one for your particular situation. Be sure to talk to an experienced home loan expert to fully understand all your options.

 
 
 

Fixed-Rate
home loans

As the name suggests, a fixed-rate mortgage has a fixed interest rate for a fixed period which could range from 1-5 years. They are commonly available and if you are on a very tight budget and not sure which way the interest rates are going to go then perhaps this is something you could consider or discuss with a consultant.
 
The most obvious advantage to a fixed-rate mortgage is that your rate and payment never change.

 

Variable Rate
Mortgages

Variable rate mortgages are just that – mortgages with an variable or an adjusted interest rate. As the name suggests the interest rate can vary depending on the market. These rates are generally lower than the current comparable fixed rate however, if the market rates go up then so will your repayments will move accordingly. On the other hand if the market rates go down, then so will your repayments.
 
You can always start with a fixed rate for a certain period and then after that period revert to variable. Feel free to discuss this with your finance consultant.