Loans

Smart Home Loans Group has a free mobile service for the customers that can't make it to a bank
We service all of the Central Coast
which include
Terrigal
Avoca
Erina
Wamberal
Gosford
The Entrance

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OUR HOME LOANS

  • Here at Smart Home Loans Group we are dedicated to the customer for great outcomes.
  • We have over 30 different lenders on our panel so we will have a lender for every purpose.
  • We work with the banks to secure the best possible interest rates.
  • We are paid by the banks so the customer does not pay any fees to us directly.
  • We have a free  mobile service where we can come to you at a time and place that suits you 7 days a week.
  • We do home loans for : 
  • Purchasing new property 
  • Refinancing existing property
  • First Home Buyers 
  • Investment Properties 
  • We service all areas of the Central Coast
  • Erina
  • Terrigal 
  • Avoca 
  • North Avoca 
  • Wamberal
  • Gosford
  • The Entrance  

 

 

VARIABLE RATE LOAN

Variable rate home loans are popular and offered by most lenders.

With a variable rate loan, the interest rate you are charged can fluctuate in line with market interest rate changes

. Because of this, your home loan repayments may also vary

. Generally, the variable interest rate on your loan will move in line with the market rate set by the RBA, but banks can set their own interest rates and change them at any time. 

FIXED RATE LOAN

A fixed rate home loan allows you to set your interest rate for a period of one, three or five years.

Sometimes, you can arrange to secure your interest rate for longer.

Fixing your interest rate can be a suitable option for some people, however you need to be aware of the following:

• Fixed rate home loans often have higher interest rates than variable rate home loans. The longer the fixed rate term, the higher the interest rate is likely to be. For example, a five-year fixed loan will usually have a higher rate than a three-year fixed loan.

• If interest rates do not rise, or if they fall during your fixed rate period, you will pay more interest than you would if you had a variable rate home loan.

What’s good about fixed rate home loans?

• During times of very low interest rates, fixing your loan can work to your advantage, because you can retain a low rate for a fixed term even if the rates rise steeply. Depending on the lender and the current interest rate, this could potentially lower your repayments and the total interest paid over the loan term. 

DEBT CONSOLIDATION

Debt consolidation involves bringing your existing debts together into one new loan.

The objective is to reduce the number of individual payments you make and reduce the interest rate you are paying on your more expensive debts.

This may be something to consider if you are:
• Managing multiple debt repayments and struggling to keep track of what is due and when.
• Getting into a credit trap where all your spare income is used to pay interest, but you don’t have enough left over to reduce your debt balances.
• You’re paying a very high interest rate on your debts—perhaps you have credit card or cash advance debts, or store credit purchases.
There are several possible strategies to consolidate debts, which can include:
• Moving debts to a new credit facility (e.g. a personal loan or mortgage) with a lower rate of interest, or lower fees.

Interest Only

The repayment on your mortgage will always include the interest payable on the amount borrowed,

no matter what kind of loan you have. If you have a Principal & Interest loan (P&I), part of your repayment will also be allocated to reducing the balance of the loan. With an Interest Only loan (IO), your repayments only pay the interest that is due and do not reduce the balance (or the amount you borrowed). As a result, an IO loan can only be obtained for a limited period (usually up to five years). At the end of the IO period, the loan will automatically convert to a P&I loan unless you make an application to extend the IO period.

Investment Loan

While savvy real estate investors can parlay one transaction into another and gather

enough funds to Pay Cash for their homes, real estate moguls-in-training need to finance their first purchases.

In most ways, a mortgage for a real estate investment is similar to other home loans, but lenders distinguish loan programs and qualifications for owner-occupied homes or investment properties.

Real estate investment loans, which offer financing for borrowers who intend to buy and rent out a properties, are considered riskier than mortgages for owner-occupiers.

banks know if a borrower experiences financial difficulty, he’s more likely to prioritize the payments on his own home and let the investment property go into default or sell the property.

The added risk associated with investment-property loans means lenders expect borrowers to have better credit, a lower debt-to-income ratio and have larger deposits in order to qualify for an investment loan.

Most lenders require a deposit of at least 10% on an investment property, and some require a deposit of 20%.

Home Loans Erina

1st Home Buyer

Here at Smart Home Loans Group we know that buying a property is one of life's biggest decisions you will ever make.

We have helped many first home buyers over the years purchase the house of their dreams .

We will help you with 

 A Savings Plan so you can be on track to save a deposit if you don't have one. 

We will work with all the parties involved such as Conveyancers ,Real Estate Agents and Banks this will ease the stress out of the purchase

Qualifying For First home owners grant NSW

From 1 July 2017, the NSW government announced several reforms to improve affordability for first home buyers. Chief among these are:

  • A $10,000 First Home Owner Grant for builders of new homes up to $750,000, and for purchases of new homes up to $600,000
  • No stamp duty for all homes up to $650,000
  • Stamp duty reductions on homes up to $800,000
  • No insurance duty on lender’s mortgage insurance

You must live in the home you buy for at least 6 months in the first year of owning the property in order to receive the grant (unless you work in the Australian Defence Force).

You may also be eligible for an exemption from transfer duty if you buy a new home valued up to $550,000, or vacant land up to $350,000. You can get a concession on the transfer duty for new homes valued between $550,000 and $650,000, or vacant land valued between $350,000 and $450,000.