How do I qualify for a mortgage?

  To get a mortgage from a bank or lender requires you to get a number of things right.  Here are the key criteria banks look at when assessing your eligibility for a mortgage.  We call it the 3 C's which are Character, Capacity and Collateral. Preparing to get a mortgage If you are paying rent, and have been paying your rent on time with no problems, and have a good repayment history with your landlord, this does not mean the bank will lend you money.  Although this will help persuade the bank to lend to you, it does not [...]

Finding the best mortgage rates

  Finding the best mortgage rates available is subjective.  It is like answering "how long is a piece of string".  It all depends on what you want to do and what your goals are.  Here are three core questions you must ask yourself first. 1. How long am I going to keep the home or loan? If you plan to sell your home in the next 12 months (and most likely repay the loan) then I certainly would not be fixing my home loan mortgage rate for more than 12 months.  I would be considering a 6 month fixed rate [...]

Is your home insurance the right amount?

Home Insurance You may have recently heard on Fair Go and in the news recently that many of us have not insured our homes for the right amount.  Insurers have put the responsibility of home insurance on you, therefore running the risk that if you get it wrong, you will have serious shortfalls in what it would cost to replace your home. The great news now is that our insurers have introduced a product called SumExtra for Home Insurance.  We’re extremely pleased to advise that with effect 11th February 2015, this benefit will also apply to all of our clients [...]

2015-04-14T23:46:28+12:0014/04/2015|Categories: Blog, Mortgage Finance, New Finance, Refinance|Tags: , |

Property values in Rotorua

Rotorua Property Values Recently there was an article about Rotorua property values and as a mortgage broker, I could not help but add my two cents worth.  The question I often get asked by clients home a home is "what do you think it's worth"?.  I would love to be able to have a answer for them but my answer is usually "what ever the market is prepared to pay". Of course, when it comes to securing a home loan for them, the bank will always ask what the valuation is and what is the purchase price so the valuation [...]

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