What's Important To You?
At Loans Blvd, we understand that different customers have different needs and priorities. Whether you're a first-time homebuyer, looking to refinance, or building your dream home, we're here to help.
How Much Can I Borrow?
​
Understanding your borrowing power is the first step in your homebuying journey. We'll help you determine how much you can borrow based on your unique financial situation and guide you through the process to ensure you get the best possible terms.
​
Each bank and lender has its own policies and criteria for approving loans. With our extensive network of lenders, we identify the ones that best align with your unique situation and financial goals. We will find the best match for you depending on your employment type or income structure.
​
We take the time to understand your complete financial picture, including any unique aspects that might affect your borrowing capacity.
​
We tailor mortgage solutions to fit your needs, ensuring you get the best possible terms and rates.
Refinancing Your Mortgage
​
Refinancing your mortgage can be a strategic move to improve your financial situation. Whether you're looking to reduce your monthly payments, access equity in your property, or consolidate debts, Loans Blvd is here to help you understand your options and make the best choice for your needs.
​
There are several reasons you might consider refinancing your mortgage:
​
Reduce Monthly Payments
Refinancing to a lower interest rate can significantly reduce your monthly mortgage payments, freeing up cash for other expenses or savings.
​
Access Equity
If your home has increased in value, you might have built up equity that you can access through refinancing. This can provide funds for home improvements, or other major expenses.
​
Consolidate Debts
If you have high-interest debts, refinancing can allow you to consolidate these debts into your mortgage at a lower interest rate, simplifying your finances and potentially saving you money.
Obtain Better Loan Features
You might be interested in changing your loan features, such as switching from a variable rate to a fixed rate for more stability or choosing a loan with an offset account to reduce interest payments.
Buying Your First Home
​
Buying your first home is an exciting milestone, but it can also be overwhelming. Our expert team is here to simplify the process, from understanding loan options to navigating the paperwork, so you can focus on finding the perfect home.
​
Whether you want to know more about government grants that you may qualify for, or how much deposit you might need, you can be comfortable to reach out with any questions. You won't be alone in the process. We will help you each step of they way, with any questions or concerns no matter how big or small.
​
Questions First Home Buyers Might Have
​
How Much Can I Borrow?
​
Understanding your borrowing capacity is crucial. This depends on various factors such as your income, expenses, credit history, and the size of your deposit. We can help you assess your financial situation and determine how much you can borrow.
​
What Type of Loan Should I Choose?
​
There are various types of home loans available, including fixed-rate, variable-rate, and split loans. Each has its advantages and disadvantages. We can help you understand the differences and choose the loan type that best suits your needs and financial situation.
​
What Are the Upfront Costs?
​
First home buyers need to be aware of the upfront costs involved in purchasing a home. These can include the deposit, stamp duty, legal fees, inspection costs, and lender's mortgage insurance (if applicable). We can provide a detailed breakdown of these costs so you can plan accordingly.
​
What Is Lender's Mortgage Insurance (LMI)?
LMI is a type of insurance that protects the lender if you default on your loan. It is typically required if your deposit is less than 20% of the property's purchase price. We can explain how LMI works and whether it applies to your situation.
​
What Is the Difference Between Pre-Approval and Final Approval?
Pre-approval gives you an estimate of how much you can borrow and shows sellers that you are a serious buyer. Final approval is granted after the lender has fully assessed your financial situation and the property. We can help you understand the significance of each stage.
​
What Happens at Settlement?
​
Settlement is the process of transferring ownership of the property from the seller to the buyer. It involves finalizing the payment and signing all necessary documents. We’ll explain what to expect and ensure you’re ready for settlement day.
Building Your Dream Home
​
Building a home involves many steps and decisions. We provide the support and guidance you need to navigate the complexities of construction loans and ensure a smooth journey from foundation to finish.
​
How Does Financing Work During Construction?
​
One of the most frequent questions is how payments are managed during the construction phase. Unlike a traditional home purchase, construction loans are typically disbursed in stages, known as "draw downs," which align with different stages of the building process. Here’s how it usually works:
​
Initial Draw Down: This is used to purchase the land if it hasn't already been bought.
​
Subsequent Draw Downs: These occur at various stages of construction, such as after the foundation is laid, the frame is up, and the roof is on. Each stage must be completed and inspected before the next draw down is released.
​
Final Draw Down: This happens when the construction is complete and the final inspection is done. At this point, the loan transitions from a construction loan to a standard home loan.
​
Do I Have to Pay the Full Amount Upfront?
​
No, you do not need to pay the full amount upfront. Instead, you will make interest-only payments on the amount that has been drawn down during the construction phase. Once the construction is complete and the loan converts to a standard mortgage, you will begin making regular principal and interest payments.
​
What If Construction Costs More Than Expected?
​
Unexpected costs can arise during construction. It’s crucial to have a contingency plan and discuss potential overruns with your lender. At Loans Blvd, we can help you understand how much extra buffer you might need and ensure you have access to additional funds if necessary.
​
At Loans Blvd, we're here to answer all your questions and guide you through every step of the home building and financing process. Contact us today to learn more and get started on building your dream home.
​
Got Something Different?
​
We know that every client's situation is unique, and you might have specific needs that aren't listed here. If you have a different scenario, please reach out to us. There are countless options available, and we may not have covered them all on our site, but we're confident we can find a solution that fits your needs.