- Mortgage allows you to buy property
- Lenders provide the funds to buy
- Pay off over long term of 25-30 years
- Know when you are ready for a loan
- Use calculators to estimate repayments
- Work out what flexibility you need
- Call us to get started
What is a mortgage?
A mortgage is a lien (security) on a property that secures a loan and is paid in instalments over a set period of time. The mortgage secures your promise that you’ll repay the money you have borrowed to purchase your home or investment property. There are many different mortgage loan options, each with their own benefits and disadvantages. Make sure you select the mortgage that is right for you, your future plans, and your current financial situation.
Responsibilities that come with a mortgage
Buying a home is a major step and assuming a mortgage for that home is very exciting, but also a big responsibility. You don’t need to be stressed about taking on this type of financial commitment, but this is a long term commitment; to know if you are ready ask yourself:
- Can you comfortably make the monthly mortgage payment for the loan? (Check out our Borrowing Power Calculator)
- Do you have a confident outlook with regard to your financial situation? (eg. Your job security, health)
- Are you ready to take on a long-term financial debt which may affect your current lifestyle?
- Are you aware of what happens if you can’t meet the repayments on your loan?
If you are confident that you can say yes to these questions, then you’re ready to become a home owner and enjoy all the benefits of being one!
Take the time before buying a home to make sure you know your borrowing capacity, what your upfront costs and ongoing payments will be. We will ensure you make the best choice and get the right loan when purchasing your home or investment property, with the best interest rate, flexibility and features you need.
With hundreds of different loan products in the market from all lenders, your professional Time Finance Mortgage Broker will help get the right loan for you!The benefits of why you should use a professional Time Finance Mortgage Broker are guaranteed.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.