MHP Mortgage Loans - Matthew Stack

Commercial Property Loans  There are many commercial property lenders, and the lending policies for commercial property loans are varied and negotiable.  It's imperative to use a finance broker. Commercial property types Different commercial properties carry different risks to each lender.  Standard commercial properties are usually the best type of security for a commercial property loan.  They have wide appeal, in a good location, and zoned as commercial or mixed use. 1. Offices. 2. Factories. 3. Warehouses, showrooms and storage units. 4. Shopfronts. 5. Residential block of units. Non-standard or Specialised commercial properties carry more risk to the lender as they are more difficult to lease or sell.  These may attract a different interest rate and fees. 1. Backpacker hostels, motel, hotel, resorts, bed and breakfast, caravan parks. 2. Aged care and over 55 complexes. 3. Car yards. 4. Land subdivisions. 5. Farms - both hobby and income producing includin...

  Home Loans for Paramedics & EMT -There are some discounts & waivers for emergency services workers when applying for a home loan.   -A paramedic pays no LMI up to 85% LVR as opposed to 80% LVR for everyone else.  This gives you an edge when entering the property market. -Your borrowing capacity is slightly increased as some lenders will utilise more of your income than others - for example 100% overtime income, 100% lunch break overtime income, Salary Packaging etc.   -It's important to select the right lender, which changes from season to season, as some lenders set up policy and products that compete for this income type. -If you're an emergency services worker, it pays to speak to a mortgage broker.  It won't cost you anything.  When you call, you'll speak directly to me - Matthew Stack - not a call centre. Benefits of a Paramedic Home Loan You are entitled to 85% LVR with no mortgage insurance.   Saves you thousands. Profes...

  Variable or Fixed Interest Rates? Should you go with Variable Interest Rates in a Rate Hike Cycle? -It's easy to get a little confused. It's not simple to work out which lender is offering the best deal, or who has the best interest rate, or what part of the rate cycle we are in. -The main choice you need to make is whether to fix the rate or opt for a standard variable interest rate. -Most lenders fix for 1 to 3 years. What are the benefits of the old-fashioned variable interest rate? 1. Lower interest rate -Variable rates are generally lower than fixed rates. If you choose to fix your rate, you're paying for the certainty that this offers. 2. Take advantage of decreasing cash rate -If your lender reduces their standard variable interest rate, your interest will be reduced accordingly 3. Features and Flexibility -Variable rate loans usually let you make additional payments and redraw the extra money if you need to. -Some lenders also allow offset accounts, which redu...

First Home Guarantee Scheme  - This enables an eligible first home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.   - No stamp duty for a purchase price up to $650,000. - Concessional stamp duty for a purchase price between $650,000 - $800,000. First Home Guarantee Scheme - Eligibility To apply for the First Home Guarantee Scheme, applicants must:  apply as an individual or couple (married or de facto).  Can't be siblings or friends.  be an Australian citizen.  Can't be a New Zealand citizen or Permanent Resident. be at least 18 years old. earn up to $125,000 for singles or or $200,000 for couples.  You'll need to provide your Notice of Assessment (NOA). intend to be owner-occupiers of the property.  Can't be for an investment.  be first home buyers who have not previously owned a property in Australia (even if you've since sold it!).  Applying for the First Home Guarantee Scheme Applicat...

 Self-Managed Super Fund Loans Looking to buy a commercial property with your Self-Managed Super fund? Properties we can consider: 1. shop fronts 2. Offices 3. Industrial Units 4. Factories 5. Warehouses 6. Mixed residential & Commercial use 7. Medical / Professional suites Lending Criteria: - 80% of rental / lease income from commercial property being purchased. - SMSF must be able to service the loan from the existing SMSF income and assets, proposed rental income and mandatory member contributons. - 80% Loans (LVR). Get in touch and I'll run you through your options. Matthew Stack - mortgage broker 0423 237 242 #smsf #commercialproperty #commercialrealestate

What is a commercial lease doc loan? A loan which involves using the lease income from a commercial or industrial property to service the debt on the property on a standalone basis - not your business financials.  In a nutshell, if the rental income exceeds the repayments over a 12-month period, then it is possible to get the loan approved without the need to show business financials. This type of loan is not very common; however, it can be found amongst a small number of lending institutions such as Better Choice Homes Loans. Assessing Commercial Lease Doc Loans - The lender will look at the debt and lease on its own.  - This is good for businesses will unusual income streams that can't verify income. - The applications strength comes from the tenants and the property - not the business. - Lender assesses the debt on the property using the income of the lease only.  If the lease income can service the debt, the lender won't considering other debts. Other considerations -...

Applying for an Investment Property Loan  The basic lending criteria are: -Best to have 10% in genuine savings. -Can use equity in other properties through refinance. -Good credit score. -Stable employment. If you want to see if you qualify for an investment loan, then call me on 0423 237 242 and we'll talk through your application together. Which Lenders are best for Investing in Property? -It's important to find a bank that likes investors, not one that isn't actively seeking that kind of new business.  I will run your servicing with a whole panel of lenders to see where you fit - this will not affect your credit rating. -There are both Bank and Non-Bank lenders that consider 95% investment loans.  Each lender policy is different, so it's best to use a broker as we won't affect your credit score. Steps to increase your borrowing power: - Use a lender that has the best lending criteria for investors, - Lower your credit card limits, - Use a co-borrower such as ...