Need Help With Your Home Loan?
You need to consider other costs...
You may need to organise bridging finance between the purchase date of the new home and selling your current home.
We can help with making the best decisions based on your needs and circumstances.
Contact us to learn more.
Wanting to move?
Choosing the right loan can have a direct effect on the success of your decision to purchase a new home.
A good place to start is with our home buyer's "Ready to make a move" checklist
Not found the right home yet?
Start writing down a 'shopping list' of all the things you're looking for in your next home (see our Choosing a home for a list of possible 'must have features').
Don't forget to consider your current finance obligations and what mortgage repayments you will be able to afford. This might be a good opportunity for a home loan review and pre-approval.
Found a home and ready to roll?
Unlike when you bought your first home, there are additional options you may want to consider for financing your deposit, for example, if you buy before you sell your property and your deposit is held up in a term deposit or shares, you can use a deposit guarantee.
When you're putting your financial position together, remember to consider your savings, the equity you may have built up in your home, or any extra home loan repayments you've made.
Terms you may hear:
"Your existing equity"
Equity is the difference between your home's value and the amount owing on your home loan. Because you can borrow a proportion of your equity to put towards your next home, more equity gives you more options.
"Use a deposit guarantee instead of cash"
If you have money in an investment such as savings or shares and would prefer to leave it there rather than withdraw it for a deposit, Lightning Fast Home Loans consultants may have a solution for alternative ways of setting up a deposit without breaking into the piggy bank.