Taking out a home loan shouldn’t be a drama. At Loan Monster, we make everything simple. If you’re buying your first home, buying an investment property, or whether you’re buying your second or third property, we can look after you. Get in touch with our home loan brokers in Perth today.
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Our Home Loans Services
At Loan Monster, we can take care of everything for you. Sit back and relax while we sort out all the paperwork. We’ll dot the i’s and cross the t’s so you can focus on what really matters. Like moving into your first home or renovating your investment property.
When you come to us, you’ll get one broker who will look after you from start to finish. You won’t get the run-around. You won’t spend hours on hold with a call centre. Instead, you’ll be kept in the loop. We’ll stay in touch with you and let you know how everything is going so you don’t have to lift a finger.
What is refinancing and is it the right move for you? Find out how it works and what you could potentially gain from refinancing your mortgage. Learn more about unlocking your equity and why you should consider consolidating your debt.
Or maybe this isn’t your first rodeo. If you’re already a homeowner, you might be thinking about refinancing. There are a lot of bank offers and promotions out there right now. We can sort through them all and show you which ones are going to be better for you. If you want to consolidate your debt or unlock your equity at the same time, we can take care of that too.
You might have several investment properties under your belt. Or you might just be starting out. Either way, we’re here to make sure you get an investment loan that’s going to work for you.
While it’s important to pick the right property in the right location, you also need the right type of loan. Your investment loan setup can have a bigger impact on your returns than you may realise. Our brokers can show you your options and give you the advice you need to make the best decision.
How do you get started as a first-time home buyer? From financial grants to guarantors, we’ll go through all of the basics. You’ll learn about the benefits of being a first-time home buyer and how the whole process works.
Is this your first time applying for a home loan? You probably have a lot of questions about where to start, what the application process is, what’s a good interest rate, and what you can afford. That’s why we are here. Our home loan brokers can walk you through the entire process and help you at every step.
Do you want to make structural improvements to your home? Before you start working on your renovation project, have you considered what the total cost will be, and whether you need a loan to fund the project?
Pre-plan your project work out how much you will need to spend so that you can stay on budget. From here you can decide how to proceed with your renovation to ensure you’re not relying on your savings.
Whether you’re an owner-builder or want to bring in builders to complete your renovation project, you have different loan options.
Speak to our brokers to find out which renovation loan is suited for your situation.
Depending on several factors such as income, living expenses, and the amount remaining on your existing home loan, your lender may let you borrow additional funds.
Using these funds to purchase an investment, renovate your home, or invest in other products is known as an equity loan.
The team at Loan Monsters can help you find out if home equity is available to you and guide you through the process.
There’s never been a better time to get a great home loan deal. If you want to get started, get in touch with Loan Monster today. It doesn’t matter if you’re a first-time home buyer, an existing homeowner or a property investor. Our brokers are here to help. We’re based in Perth and Fremantle.
Home Loan Fees
There are a range of fees and charges that come with applying for a home loan. These can be expensive and will have an impact on the total cost of the loan. Thankfully, some of these fees are one-off costs.
This will most likely be one of your largest upfront costs when purchasing a home. Stamp Duty is a government tax and changes depending on the state you live in. To calculate your stamp duty, you can use REIWA’s Stamp Duty Calculator.
To ensure that amount you’re borrowing, and your deposit is correct, lenders will require the property to be valued. Sometimes this can cost up to $300, but in some cases, lenders absorb this into their costs.
This is a government fee to transfer ownership of the property to you. In WA, first home buyers should expect to pay up to $250 – $300. For more expensive properties, the transfer cost can be higher.
A Title Search can cost up to $100 and is the fee to search for the legal identification and ownership of the property. The information will also include any legal issues that may be present on the property.
Your mortgage must be registered on the property title. In WA, this is currently a $178.20 state government fee, as of July 1st, 2020.
To ensure that the property is structurally sound, a building inspection is a must. This can also include a check for termites and other pests. Depending on the inspection company you use, this could cost anywhere between $500 – $1,000.
These can be from a lawyer or licensed conveyancer (or Settlement Agent), to process the documentation required to transfer the property ownership. This can include contracts reviews and preparing settlement documents.
For any home loan where you need to borrow more than 80% of the property’s value, you will most likely need to pay LMI. This is insurance to protect the lender if you are unable to pay your loan. This can be paid upfront or added to the loan amount.
Home Loan Brokers
We don’t like to talk ourselves up, but we are pretty good at what we do. Take one look at our Google reviews and you’ll see that we always put our clients first. Now we want to do the same for you. Contact us today and we’ll see how we can help.