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From Interest-Only to Principal and Interest: Making the Right Loan Choice for Your Investment Journey
- Importance of consulting a finance broker early in the property investment process.
- Advantages of using a mortgage broker over direct bank engagement, including access to multiple lenders.
- Overview of the pre-approval process for loans and the necessity of complete financial disclosure.
- Comparison between interest-only loans and principal and interest loans, focusing on long-term financial implications.
- Factors affecting borrowing capacity, such as HECS debt, car loans, and living expenses.
- Considerations for single parents and how shared custody impacts financial assessments.
- The role of child maintenance and Centrelink income in borrowing capacity evaluations.
- Variability in lender treatment of private education and health insurance costs.
- Importance of regular mortgage reviews and proactive financial management.
- Strategies for managing multiple properties and maintaining clear financial separation.
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By Property Managers around Australia- Importance of consulting a finance broker early in the property investment process.
- Advantages of using a mortgage broker over direct bank engagement, including access to multiple lenders.
- Overview of the pre-approval process for loans and the necessity of complete financial disclosure.
- Comparison between interest-only loans and principal and interest loans, focusing on long-term financial implications.
- Factors affecting borrowing capacity, such as HECS debt, car loans, and living expenses.
- Considerations for single parents and how shared custody impacts financial assessments.
- The role of child maintenance and Centrelink income in borrowing capacity evaluations.
- Variability in lender treatment of private education and health insurance costs.
- Importance of regular mortgage reviews and proactive financial management.
- Strategies for managing multiple properties and maintaining clear financial separation.