Home Loans

Home Loans Gold Coast

Are you looking for home loans Gold Coast and Australia wide but don’t know where to start? Buying property can be one of the biggest financial decisions of your life. With hundreds of different home loan products in the Australian market to choose from it’s becoming increasingly difficult to find the right home loan to match your needs and circumstances.

Home Loans with OAK Tree Finances

Are you looking for home loans Gold Coast and Australia wide but don’t know where to start? Buying property can be one of the biggest financial decisions of your life. With hundreds of different home loan products in the Australian market to choose from it’s becoming increasingly difficult to find the right home loan to match your needs and circumstances.

Ready to get started? Call a mortgage specialist from OAK Tree Finances today on 0404 403 066 and we’ll find the perfect home loan for you.

Home Loans Gold Coast

At OAK Tree Finances we understand how important it is to get the right advice and the right help that’s why we’ve simplified our home loan process into two simple questions. 

1. Do you want a fixed or a variable rate home loan?  
2. Is a simple stand-alone home loan right for you or would a home loan package be more advantageous? 

 

Fixed Home Loans

Fixed home loans are perfect if you want to secure an interest rate for a period of time (normally 1, 2, 3 or 5 years). With a fixed home loan, you have certainty with repayments and interest charges during the fixed period and protection against rising interest rates for a period of time.

On the other hand, fixed home loans may have additional fees when making additional payments, common home loan features may not be available, and will either convert to a variable rate loan at the end of the term, or you may have the option to fix the loan for an additional term.

Variable Rate Home Loans

With a variable rate loan, your interest rate is variable and can increase or decrease with the market conditions. They typically allow you to make additional payments without charges, offer offset and redraw facilities, and repay the loan at any time without early repayment penalties. 

With a variable rate loan, you will benefit from any reductions in interest rates, but also are susceptible to paying higher interest if interest rates rise.

 

Is a Fixed or Variable Rate Home Loan Right for me?

Both fixed and variable rate loans have their advantages and disadvantages and depending on your unique circumstances may find that one is more advantageous to you over the long run than the other. Where in some cases using a combination convertible home loan, that uses both a fixed and a variable period may offer significant savings.

To find out what’s right for you, make an appointment or call our mortgage broker Gold Coast team today on 0404 403 066.

Basic Home Loans vs. Home Loan Packages

After you’ve decided on whether you want a fixed, variable, or convertible home loan, we take a closer look at your financial situation and help you determine if you would benefit from a basic home loan or if a home loan package would be more advantageous for you.

Our Panel Of Lenders

Home Loan Features

Ensuring your loan is best tailored to your unique circumstances can provide significant financial savings in the long-term. Our team can assist with leveraging the right home loan features to get the most out of your loan including:

Make an appointment for home loans Gold Coast and Australia wide today to find out more.

Home Loan Costs

All home loan costs must be considered to avoid surprises and unnecessary stress. To help with understanding some of these costs, we have provided a typical example of buying a $500,000 house in Queensland. The information provided is approximate and general in nature and doesn’t consider your specific situation.

Typical Home Buying Costs
OAK Tree Finances
$0 (We do not charge you anything as we are paid a fee from the lender you choose)
Lender Application Fee
$0 to $600
Lender Legal Fee
$0 to $300
Lender Ongoing Costs
$0 to $400p.a
Mortgage Insurance
One off cost from $4,568 with a 15% deposit to $13,970 with a 5% deposit approx.
Deposit
Typically, a minimum of 5%
Stamp Duty
Will vary for First Home Buyers, Owner Occupiers & Investors ($0 to $15,925)
Registration and Transfer
$1355 (Government costs to transfer the ownership of the property)
Solicitors Fees
$1200 to $1500
Pest & Building Report
$300 to $500 (Optional but advisable)
Strata Report
$300 to $500 (Optional but advisable)

Home Loan Approval Process

In general, the entire home loan approval process takes on average 4 weeks and typically follows 4 stages.

Conditional Approval
The first step and is an approval from a lender with certain conditions such as property evaluation which have to be completed. If you have found a house this stage is called ‘pre-approval’ which is subject to valuation.
Formal Approval
Once a successful property valuation has been completed and any other conditions have been met then the lender will provide a formal (unconditional approval).
Loan Documentation
The loan contracts will be issued by the lender and we will arrange to go through this with you and answer any questions you may have. Specific details will need to be verified and we ensure all the charges are all correct.
Ready to Settle
The lender will need 3-5 days after the loan documentation is returned to finalise everything. We will guide you through all the final steps such as liaising with your old lender if you are refinancing your home loan before final settlement occurs.
Stage 1
Stage 2
Stage 3
Stage 4

Ready to get the best in mortgage finance? Make an appointment or call us on 0404 403 066 to discuss your unique circumstances today.

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