Owner occupied property home loans are mortgages that are available for people who wish to buy their own home. Owner occupied home loans are available from hundreds of lenders across Australia. These lenders include major banks, building societies, local credit unions, etc. Each lender offers different rates and conditions on mortgages for your potential home mortgage. Making the situation even more complex, home loans can incorporate mortgage features such as redraw, offset and additional repayments.

How To Choose A Suitable Home Loan?

Comparing what is on offer, and finding the right solution for your unique circumstances, can be a time consuming and complex exercise. Because, the wrong loan decision can prove to be a costly mistake.

The average home loan amount in Australia for the month of May 2012 was $293,600 (and in NSW it was $331,300). So, to choose a home mortgage best suited to your individual circumstances is one of the most important financial decisions you will make.

What required information should I know to get into owner occupied property finance?

  • How much can I borrow?
  • How much of a deposit do I need to obtain a home mortgage?
  • Based on the minimum monthly repayments, income and my other expenses, will I be able to make additional repayments?
  • Will my credit card limits impact on my borrowing capacity?
  • What products are best suited to my needs and what features should I be looking for in a product?
  • How will I repay the loan once I retire – exit strategy?
  • Should I fix the mortgage for a fixed term (for example 1, 2 or 3 years) or should I take a variable product or should I take a combination of both fixed and variable?
  • Can I choose to fix my interest rate in at a later date?
  • Should I repay interest only or principal and interest?
  • Based on my circumstances, with which lenders can I qualify for finance and, amongst that list, which lenders are giving the best interest rate and/or the best product suited to me?
  • Will you process the First Home Owners (FHOG) for me?
  • What is Lenders' Mortgage Insurance (LMI)?
  • What stamp duty fees and other related costs will I incur?
  • Can I obtain a pre-approval and how long is the pre-approval valid to?
  • How long will it take for you to obtain the appropriate finance for my needs?
  • What documents do I need to provide in order to obtain finance?
  • If I have a Default or a Bad Credit listed in my credit report will this impact on my ability to obtain a home mortgage?

Enquire Online for Owner Occupied Property Purchase

How Can Singh Finance Help You?

Singh Finance is an established and well respected finance brokerage in the finance industry. Our finance brokers are experts in the mortgage, loan and finance industry, and they have assisted many of our clients with obtaining home mortgage loans, for the purchase of real estate. Singh Finance also has a strong and professional relationship with many lenders in the mortgage mortgage and finance industry.

Our dedicated in house expert qualified finance brokers all have a thorough knowledge of the residential property market and home/residential mortgages. Most importantly for you they are willing and able to guide you through your options, to help you find the best and most cost effective home mortgage solution which can be tailored to your individual requirements.

Contact Us Today

So, if you are currently looking at purchasing an owner occupied residential property and you are still unsure of your finance options and requirements. Please contact us or visit our website via the "Contact Us" page, and one of our expert finance brokers will make an appointment to see you at a time and place convenient to you.