Where do I start?
Buying your first home is exciting and scary all at once. Using an Affinity Mortgage Consultant can help you get into your first home relaxed and stress free!

First you need to try and work out how much you can borrow. You will also need to work out the costs to purchase, things like stamp duty application fees and mortgage insurance, and add these fees on to the purchase price of your home.

A deposit is usually needed, but there are some lenders who offer no deposit loans.

How do I get a deposit and how much will I need?
With so many loans about it is possible to borrow more than the cost of your home. Most traditional lenders prefer you to have saved or have cash of 5% of the purchase price. The deposit is usually paid prior to the settlement date.

What is a deposit bond?
A deposit bond guarantees that you will have funds to cover the deposit at settlement, these are used where you are borrowing 100% or more, and the vendor needs proof the deposit will be paid but does not require the cash until settlement. Not all agents or vendors will accept these – so you will need to check first if you are borrowing more than 90% of the property value.

Family Guarantee
You might be able to ask your parents for some help either as a gift or to use the equity in their home. When you use their equity it is called family pledge or family guarantee loans.

Essentially this gives you one loan of the entire property value plus costs, that you are responsible for. Instead of paying higher fees the lender lets a family member “pledge” their property so that the lender reduces their risk by having a second property to support the loan.

Jessica and Mark let their parents help them get started, and their parents were happy because they were able to help without giving away any cash using a family equity loan!

What does it cost to buy a home?
Aside from the price of the home, you will need to pay Government Stamp Duty, land transfer duty, mortgage insurance (usually if you are borrowing more than 80% of the property value), application fees and fees for your conveyancer or solicitor.

You can work out the Government fees on our calculator but mortgage insurance can vary between loans, so call us and we can help you work out these additional costs. We might even be able to add them on to your loan.

With so many options available, talk to Affinity. We use our expertise and experience to match you to a loan that suits your needs. Let Affinity do your loan shopping for you and take the hassle out of your home loan.

REFINANCE

Why should I refinance?

People usually want to change loans when they are refinancing or consolidating their debts. Typically they are refinancing to:

• Borrow more money to renovate, invest or for business
• Consolidate separate loans (car, personal, business, credit cards)
• Take advantage of lower priced loans or better structured loans in the market

Investing

Mario and Lydia thought that only the very rich got to buy an investment property, but Affinity showed them how they could use the equity in their home to get started.

You don’t have to be earning a fortune to buy an investment property. You have probably heard of people using the equity in their home to help finance an investment property. You will need to get the appropriate financial advice about rental income, capital growth and negative gearing. The way you organize your finance can impact the growth of your investment. Your Affinity Mortgage Consultant will work with you (and your financial advisor if you like), to organize the loan that fits your investment needs.

What is the best loan for investing?
Your Affinity Mortgage Consultant needs to have a thorough understanding of your individual needs. We can talk to you to help get you started. A Professional Pack product can work well for property investors because of its flexibility. They often have one fee for multiple loans, and a reduction in rate for larger borrowings.

With so many options available, talk to Affinity. We use our expertise and experience to match you to a loan that suits your needs. Let Affinity do your loan shopping for you and take the hassle out of your home loan.

Business and Commercial Finance
At Affinity we understand that running your own business might not leave you enough time to review your business financial needs. We can provide you with the time, expertise and resources to negotiate your commercial or business finance structure. We can often find our business and commercial clients a more competitive rate or a more flexible product than they are using. If you are talking to us about home loans, make sure we review your business needs as well.

With so many options available, talk to Affinity. We use our expertise and experience to match you to a loan that suits your needs. Let Affinity do your loan shopping for you and take the hassle out of your home loan.

Credit problems?
Change in family circumstances, unemployment, or simply out of control bills can damage your credit and make repaying your debts feel impossible. Sometimes it is as simple as refinancing to get your repayments back in control. Sometimes things have gone too far, and you can feel like you are drowning in debt. Let your Affinity Mortgage Consultant connect you with a lender that can give you a second chance.

Many of our clients have been surprised by how easy the process can be, and how much more cash they can have in their pocket by consolidating their debts.

With so many options available, talk to Affinity. We use our expertise and experience to match you to a loan that suits your needs. Let Affinity do your loan shopping for you and take the hassle out of your home loan.

Why would I build?
You can save significant amounts of stamp duty if you chose to build your home rather than buy an existing home, as stamp duty is payable on vacant land value rather than land plus improvements.
Why do I need a construction loan?
A construction loan is different from a normal home loan because it can be drawn in stages rather than a lump sum at settlement. These stages are in line with the stages of construction.
Most lenders only ask you to pay interest on the amount you draw down. For instance, if you have borrowed $300,000 for a house and land package, but have only drawn down $125,000 to pay for the land, you only pay interest on the $125,000.
It is important to know how much you can borrow before you commit to purchasing land or signing a building contract.

Renovation
Do you dream of a new kitchen, more space, even a new sunroom or playroom to give your growing family more space.
Affinity offer a number of financial solutions to keep your finance simple, and give you access to the cash you need to get the home you want.

The Jackson’s were out growing their home, but they didn’t want to move aw ay from such a great neighborhood. Affinity helped them build an extension without hurting their wallet.

With so many options available, talk to Affinity. We use our expertise and experience to match you to a loan that suits your needs. Let Affinity do your loan shopping for you and take the hassle out of your home loan.