Before you go out and start looking at what property you want to buy, it's important to have the right home loan for your personal circumstances. Here’s a checklist of the things that you will need to consider before you choose a home loan:
Property Finance - AMO
When shopping for a home loan, most people look for a loan with the cheapest interest rate - but the secret to paying less, and paying off your loan faster is knowing the best strategies to use to pay off your home loan sooner. Robert Projeski offers the following tips to help you slash your home loans by one to five years (or more).
Consolidating your credit card debt at home loan rates can be an effective way to reduce the interest paid and allow you to be better off in the short and long term explains Robert Projeski of Australian Mortgage Options.
Going by the timeless cycle of property trends, it is not only likely, but almost predicable that after a number of years of good growth and high demand, there has to be a down turn.
An investment property is a great way to help secure financial independence but are you receiving the maximum return on your investment? Exploring your funding options and structuring your loan for maximum tax benefits will help you achieve this. In this article I will examine both considerations.
With interest rates at an allow time low, many Australians are asking the tough questions: "Is now the best time to lock-in my home loan rates?" While we don't have a chrystal ball to forecast where interest rates are headed, we do have a product that can give you the financial flexibility to decide when to fix your home loan rates and when to stay variable.
Have you applied for a home loan to buy a new property recently? Maybe you're thinking of switching lenders or refinancing your loan? If so, you will have to undergone a credit check to satisfy the lender that you are a responsible borrower with a good history for repaying back what you owe.
The announcement by the Reserve Bank yesterday to cut interest rates by another 25 basis points has fuelled hopes that this will strengthen the economy by consumers engaging in further spending and lending. The official cash rate now stands at an historic low of 1.75 per cent.
One of the best way to quickly buy multiply investment properties quickly is to drawn down on the equity in your own home or your investment property. In this article, we explore how you can tap into this equity and quickly grow your wealth through property.
A depreciation schedule is a great tool for property investors as it is considered a “non-cash deduction”. Unlike other property expenses that you need to pay out of your own pocket first, a depreciation schedule is paid for once, but it can be reused year after year to claim back legitimate tax deductions.
In the first part of our article, we saw how young singles and couples can borrow more to invest in high growth properties. In this article, we look at how to build a strong property portfolio while you're busy starting a family or when you’re closer to retirement.
According to RPData 72 per cent of investors own only one property, while 18.9 per cent own at least two. That leaves about 0.9 per cent of investors with six or more investment properties. Though there are many reasons why the majority of investors own no more than two properties, the sad fact is that you will never become financially independent by owning just two properties.
Whether you're buying your first home or your tenth investment property, the process of getting the right home loan can be a daunting experience. But before you go out and take on the biggest debt in your life, it's good to compare the different types of mortgage lenders and their services. Not only will this make the process a lot easier and less stressful, it could potentially save you thousands in fees and interest charges.
Mortgage rates have been coming down for a while and recently hit their lowest level when the Reserve Bank of Australia decided to further reduce the official interest rates to 1.5 percent. This opens up opportunities for those who want to use their home equityto create wealth, and for existing mortgage holders to pay down their mortgage and own their own home sooner.
The Australian Taxation Office (ATO) gives specific guidelines to the way that assets are to be treated for depreciation purposes, with rental properties making up one of the biggest deductions available to investors. Unfortunately some investors fail to claim these deductions.
Robert Projeski is a leading property and business finance expert having appeared on radio and TV, written articles for most real estate and business publications in Australia, as well as a sought after commenter by various media and newspapers around the country. Here he shares some fundamental tips that will help you in obtaining finance.
Here are some key pointers to what you need in order to give your loan application the best chance for success and get approved first time.
In this third part of our article on how to obtain finance, we look at the importance of research and how to pick the right lender to submit your application for finance.
Saving up for a deposit to buy a home can be a daunting task, especially when you're just starting out. Property prices seem to continually rise, while the banks and APRA have done all that they can to tighten up the lending criteria and the amount required for a home loan deposit. But before you start to tighten your financial belt and begin cutting costs, here are some tips to help you to get a deposit together.
If you're thinking about buying your second investment property, it's a good idea to understand how to leverage equity in your existing home to purchase another property (or two).
With interest rates at an all time low, many home owners are asking “Is now the best time to fix my home loan?”
While the decision to switch to a fixed rate home loan will vary based on your personal circumstances, there are some great benefits to fixing your rates now rather than later. Mr Robert Projeski, the Managing Director of Australian Mortgage Options, says that Australia’s interest rates are at an all time low and borrowers can get some really good bargains.
“Most of our clients fix at least 50% of their home loan, and leave the other half on variable rate, with most people choosing to fix their rates for around 3-5 years.”
The other benefits of fixing your loan is the peace of mind that it gives you. “It’s knowing what your monthly repayments will be, and knowing that you can pay off your home loan for how ever long you decide to fix your rates for," says Mr Projeski.
“How can I recycle debt?” you may ask, and what is the difference between “bad debt” and “good debt”? Australian Mortgage Options’ managing director Robert Projeski sheds some light on the topic and explains how we can turn “bad” debt into “good.”
Having worked as a senior lender in the banking industry for over 20 years, Robert Projeski, the Managing Director for AMO, reveals how he went from working for the banks that was ripping off borrowers out of billions of dollars in fees, to creating Australian Mortgage Options to help ordinary Australians to get the best home loan deal.
Robert Projeski, visionary founder of multi-award winning Australian Mortgage Options (AMO), is a sharp entrepreneur with a conscience. In the late 90’s, Projeski broke away from the banking industry with the goal of helping borrowers pay off their mortgages sooner. His formula worked and AMO is now considered one of the leading independent mortgage management firms in Australia.
A part fixed, part variable rate home loan such as AMO's own Future Proof Home Loan gives you partial protection against interest rate increases. But is it a good idea to switch provider if you find a better value home loan?
In this interview on 2UE, Mr Robert Projeski, the Managing Director of AMO, talks about the costs and advantages of switching away from a fixed rate home loan.
Where is interest rates going? Should you fix or stick to a variable home loan rate? In this video, Robert Projeski discusses how the money market can influence your mortgage choice, and the pros and cons of fixing or sticking to a variable rate home loan.
Achieving financial freedom through real estate has always attracted people to invest in property. There are countless rags to riches stories of ordinary Australians who have managed to secure a comfortable retirement through property. Unfortunately, there are also an equal number of people who have brought on a whim, without any clear strategy or goals and have lost their fortune in the quest to get rich. If you’re thinking of entering the property market for the first time, the “buy and hold” strategy is one of the easiest and most popular strategy to use.
There are many experts who believe that the only way to achieve real wealth is to employ a capital growth strategy to your investment property. These properties require a larger deposit and are usually negatively geared, but in the longer term they can produce better growth and equity.
When you buy a house and land package, there is a clear fixed cost component that you need to budget for - but not if you buy land to build on.
To avoid costly mistakes later on, there are a few things that you need to be aware of before you purchase your plot of land.
In this video interview on 2UE Talking Lifestyle, Robert Projeski, the Managing Director of AMO, talks about some of the hidden costs when buying land to build on.
Many property investors start their investment journey with various end goals, but when it comes to strategy, the majority of people tend to gravitate towards positive cash flow strategy in order to achieve their financial goals. Positive cash flow properties can help you to immediately improve the quality of your lifestyle, while providing you with a financial safety net.
Most investors use property to reach one common goal – to create financial freedom. While financial freedom may mean different things to different people - travel the world, generate a $100,000 passive income for life or retire early - whatever the end goal, you'll want to have a clear exit strategy in place.
In this article, we look at the general expectations for property growth in Western Australia, South Australia, Tasmania and the Northern Territory for 2016.
When investors apply for a commercial property loan, the requirements by the lender can be a lot stricter than when applying for a residential home loan. In this interview on 2UE Talking Lifestyle, Mr Robert Projeski, the Managing Director of AMO, discusses interest rates and the required deposit for a commercial property loan.
In a world with easy access to credit, becoming financially savvy and knowing how to invest to create wealth is more important than ever for young people who want to get ahead. But one of the most common concerns is whether The Great Australian Dream of owning your own home is out of reach for many young people. Mr Robert Projeski, the Managing Director of Australian Mortgage Options (AMO) believes that while these hurdles are real, they’re not insurmountable.
When applying for a home loan with an offset facility, is it better to put extra payments direct into the mortgage or into the offset account?
In 2015, we saw spectacular property growth in Sydney and Melbourne, while the rest of Australia lagged behind. But what's in store for Australia’s states and territory in 2016? Can we expect to see the same or near similar break-out performances in NSW and the other states?
If you're looking to purchase an investment property, many lenders will try to refinance your home loan and offer discounted rates and incentives to get you on-board.
The reserve price is the starting price for an auction or the price at which the property is listed. Although it is illegal for agents to underquote or mislead buyers, many Sydney properties still sell above their expected price range. In this short radio interview, Robert Projeski, the Director of AMO explains some of the underlying reasons why people may be willing to pay more.
Having your home loan application rejected can be very fustrating. But you're not alone. Since the beginning of the Global Financial Crisis of 2007-08, lenders have become more cautious and lending standards have become more stringent. However, not all lenders are the same.