There are so many things to consider when choosing for a loan. How much you can avail, how much interest you will pay, the payment scheme, the capital Gains Tax needed to pay, the affordability to your pocket.
You can ask the services of Melbourne Accountant to be able to get the right bargain and save. For the question as to how much you can borrow, this will depend on your annual income before tax, how much rental do you receive from your properties.
- Do you have a regular income?
- How much is your monthly expenses?
- Do you have other commitments?
- How many dependents do you have?
- Your combined limit of credit cards, store cards and overdraft if any?
- Are you a first home buyer?
- How much do you want to borrow?
You may also consider renting as against buying. As to renting you have to know the annual rental increases. As to buying, how much is the yearly appreciation of your home, your annual home maintenance, the return of invested funds. How much Stamp Duty to pay?
Whether you are planning to buy your first home, refinance an existing loan or invest in a property, you will always need a mortgage broker to help and guide you in your decisions Find a mortgage broker, talk to Home Loans Melbourne who could give you mortgage tips.