1. Home
  2.   ➔  
  3. home loan

home loan

Will Your HECS Debt Affect Your Ability to Get a Home Loan?

In Australia, we’re fortunate enough to have options when it comes to paying for tertiary education. Unlike in other countries, upfront fees are not always required. You can opt to take on a HECS (Higher Education Contribution Scheme) debt whereby you pay off your fees gradually. This debt varies depending on the course and university you attended, as well as how much you earn. Many of us may wonder whether our HECS debt hinders our ability to get a home loan. HECS debts and home loans It’s a dream for many Australians to purchase their own homes. With the market … Read more

Refinance your home

When Should You Refinance Your Home Loan?

Buying a house is one of the most important financial decisions we’ll make – not to mention an extremely costly one. When it comes to getting a home loan, it shouldn’t be a ‘set and forget’ activity. Revisiting your mortgage every few years, or as you go through big life changes, is a perfectly healthy thing to do and could save you money on your repayments. Unsure how to review your home loan? We’ve unpacked what you should consider when refinancing your home. What does refinancing mean? Inovayt Finance Broker, Chris Thompson, says, “When you are refinancing, you are trading … Read more

Fix Your Home Loan Rate

Is it a Good Time to Fix Your Home Loan Rate?

With interest rates at an all-time low, you may be wondering if it’s a good time to refinance your home loan or possibly consider a fixed interest rate. Before you rush to fix your home loan rate, there are a few considerations and complexities to determine if it’s right for you. We explore these below. What’s the difference between a fixed and variable home loan? An interest rate refers to the amount of interest a lender charges the borrower in exchange for borrowing their money. Typically expressed as a percentage, interest rates can be fixed, which means they are set … Read more

First Home Buyer’s Benefits

The First Home Owners Grant (FHOG) was created in 2000 to grow the housing property market by enticing Australians to build new houses, rather than buy existing properties, with a large lump sum payment. This scheme makes building a new home more attractive to first homeowners and helps the Australian economy stay strong by investing into building new homes. The FHOG scheme is available throughout Australia, varying in criteria and eligibility for each state and territory. Each has legislation and rules regarding the FHOG scheme so if you’re not buying in Victoria, you may have different criteria to follow. The … Read more

The Finance Journey

The thought of finally buying your first home is exciting and feels like you’ve finally reached peak adulting. You’ve done all your homework from working out how much of a deposit you need to have saved for a certain price range, right down to mentally buying everything from Kmart for your new place. Regardless of whether you’ve spoken to an adviser before, the team at Inovayt are here for you every step of the way on your journey from your original dream, all the way up until you have the keys handed over to you. While it is an exciting … Read more

How Much of a Deposit Should I Really Be Aiming For?

There’s no one size fits all when it comes to the size of your home loan deposit. Traditionally, banks required borrowers to contribute a 20 per cent deposit; however, today lending criteria is changing for the better providing first home buyers in particular with the ability to get into the market sooner, sometimes with as little as a 5 per cent deposit. These changes also provide first home buyers with greater flexibility, giving them the option to retain some of their savings to put towards items such as renovating or investing, instead of having to contribute every cent saved to … Read more

Different Types of Home Loans

Like anything in life, home loans aren’t always black and white. There are many types of home loans that you may have never even heard of! When deciding which type of home loan is right for you, a quick Google search will bring up a tonne of results; variable rate loans, fixed rate loans, construction loans…the list goes on. But, in reality, there are complexities and varying features that come with every loan that a Google search simply won’t reveal. At Inovayt, we have a dedicated team of experienced brokers who can assist you to determine which type of home … Read more

Mortgage Repayments – What Do They Cover?

So, you’re looking to purchase your first home and you’re exploring the whirlwind of home loans and finance. There are many different loan types available for any individual circumstance, but it’s important to understand what you’re paying off when you’re making your repayments and what the consequences and benefits are of each type of mortgage repayment. Generally, mortgage repayments cover the principal and interest, however, interest only home loans do exist. There is a wide choice of mortgage repayment options including interest-only home loans. We explore some of the options in detail below. Principal and Interest Home Loans A principal … Read more

How to Deconstruct a Construction Loan: What You Need to Know

In the market to build a new home rather than buy an existing one? Congratulations, it’s an exciting time. Plus, if you’re a first-time homeowner, you may be eligible for the First Home Owner Grant (FHOG) government incentive which can potentially save you $10,000 or $20,000 in regional areas. Building your own home literally from the ground up is an enjoyable journey but buyers should be aware that it is a process that is inherently different from purchasing an established property. While there are obvious factors specific to building that need to be considered such as landscaping, fencing, and driveways, … Read more

We offer financial solutions as individual as you.

Book a free meeting
Scroll to Top