Are You New to the Property Market? Nexus is Here to Help.
With so many different loan products on the market, finding a home loan is not as simple as it used to be. There is a range of options available to you that may save you money, provide you with greater flexibility and peace of mind.
Nexus Money consultants use their expertise and experience in the home loan market coupled with a unique computer software program that enables them to compare hundreds of loans in a matter of minutes. Our consultants will then be able to provide you with a short list of loans that are both competitive and suitable – making choosing your loan, simple!
How much can I borrow?
We’ll work with you to determine your borrowing capacity. The amount will vary depending on the size of your deposit, current income and other expenses and financial commitments.
What will my repayments be?
Once we’ve worked out your borrowing capacity, we’ll find the best loan repayment option to suit.
How much do I need to save for a deposit?
Have you got a dream home in mind? Let’s talk about getting you ready to buy it.
We generally advise a minimum of 5 to 10% of the overall property value to cover deposit and costs but other factors such as the First Home Owners Grant and Guarantor support can help reduce this amount.
How much do I need to set aside for stamp duty?
Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in.
Stamp Duty is free for first home buyers up to $500,000 in Queensland - each state differs.
What other expenses will I need to pay besides mortgage & stamp duties?
As a rough guide, you should budget for between 5-7% of the purchase price, in addition to your deposit, to cover fees and charges. While mortgage and stamp duties will make up the bulk of this 5-7%, the balance may include;
- Building and pest reports
- Valuation fees
- Lenders mortgage insurance (LMI)
- Solicitors fees
- Insurances
- Utility connection fees – phone/gas/electricity
- Council and water rates
- Removalist costs
Which home is best for me?
We understand the decision process that comes with buying a home. Nexus is ready to help you find a home in your price range that will help you maintain the lifestyle you desire.
Ready to chat about the best property investment options for your first home?
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