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Our award-winning mortgage brokers will find you the right home loan for your situation.
What are the lending criteria?
- Clear credit history: You don’t have to have a perfect credit history to get approved for a 90% investment loan. However, having a clear credit history will enable us to get you a better interest rate.
- Stable employment: In most cases, you need to have been in your current job for 6 to 12 months. Sometimes an exception can be made to this policy.
- A good income: Lenders are more conservative when assessing your ability to repay a 90% investment loan. For this reason your ‘serviceability’ must be stronger than for a home loan.
- Genuine savings: Almost all lenders require you to prove that you have saved 5% of the purchase price. However, if you don’t have genuine savings, some of our lenders can still assist.
- Minimal debts: People with many credit cards and personal loans are generally not accepted. As a rough guide, people who have more than 10% of the purchase price in unsecured debts such as personal loans and credit cards are often not approved.
- Location / property type: Many lenders may be hesitant to approve loans for properties in smaller towns (less than 3,000 people), high rise units in a Central Business District (CBD) or unusual properties. Please contact us if this may affect you.
Why aren’t the major banks lending to investors?
The major banks, credit unions and building societies are what are known as Authorised Deposit-taking Institutions (ADIs) which means they allow people to open a bank account and deposit their money in the bank. As a result of this they are governed by the Australian Prudential Regulation Authority (APRA).
For the past couple of years, APRA has grown increasingly concerned over the level of lending to investors and has pressured the banks to limit their lending for property investment.
The major banks have particularly limited 95% investment loans and 90% investment loans as these are a higher risk to the bank.
Many potential Australian property investors have been locked out of the property market as a result, however it is still possible to finance your real estate investment goals through other means.
You may still qualify for a 90% investment loan plus discounts.
We have access to other lenders that are not governed by APRA such as specialist and non-bank lenders. This allows us to help good quality property investors to expand their property portfolio.
Depending on your situation, discounted interest rates are available that will vary depending on the lender that we go with. The stronger your situation, the better the rate cut that we can get you.
Almost all of our investors qualify for interest rates below the bank standard variable rate and those with other properties often qualify for significant discounts!
You may also qualify for capitalised Lenders Mortgage Insurance (LMI). This is essentially adding your mortgage insurance premium that you’re charged when borrowing more than 80% of the purchase price, on top of the investment loan, saving you thousands of dollars in upfront costs!
We’ve lent more than $1 billion+ Australia-wide.
They walked us through the process step by step
We would like to say thank you to Hank from Home Loan Experts for all his help in getting us a guarantor loan.
We were really unsure if we would ever get an approval for a home loan, but Hank immediately knew the right lender to approach for our situation, and made the whole process simple…
We would definitely recommend Home Loan Experts to anyone. Thanks again to Hank and the team from Home Loan Experts for making it possible for us to own our first home.
Ianthe S & Jadobi l, Carina QLD
A very friendly, professional and helpful team
The team was very friendly, professional, helpful and went out of their way to get the right loan that was suitable for us… I recommend this service for those who find it very hard to purchase a property going directly to a bank. Thank you Home Loan Experts, you have finally given my family and me the opportunity to own a beautiful home.
Denise H, Epping VIC
A lot smoother and less stressful than having to deal with banks as an individual
Our mortgage broker was very personable and made us feel like he went above and beyond to assist us in getting our home loan. He had a great knowledge of guarantor home loans which set our minds at ease. He was happy to answer any questions even outside business hours and responded in a professional and timely manner. As a second home buyer I would recommend going through the home loan experts as this process was a lot smoother and less stressful than having to deal with banks as an individual. I would especially recommend Hoa to others.
Melissa H & Rhys B, Wynnum West QLD
Exceeded my expectations in terms of results
Throughout the process I felt confident in knowing I could rely on you and at no stage did I ever feel that trust could be an issue with you. You have exceeded my expectations in terms of results and have done this with very short notice. You are an asset to your company and a role model to your profession… I already have and will continue to recommend your services to friends and family.
Thomas M & Tanya W, Botany NSW
So easy to speak to no matter how stressful the situation
We are both so grateful to Amine for all of his hard work and great advice over the past year! It’s been such a long journey… We are starting to settle into our new home in Trentham now. It is just so beautiful and relaxing! We really love it and are so happy with our purchase. Amine was right all along – things happen for a reason! Thank you Amine for always being there for us.
Tanya & Andrew B, West Melbourne VIC
He even made a guarantor loan from our parents seem effortless!
After the roller coaster ride of going cap in hand to the bank manager, only to be turned away… we found Tony. What a refreshing change! Within a 2 week time frame, we had approval and were able to follow the normal approval process to get the loan…. With Tony’s inside knowledge on how lenders think he was able to approach the bank with an excellent case and really put us in a great position in the lender’s eyes…. We recommend Tony and Home Loan Experts strongly and will be using them for our next purchase…
Julie W & Luisa C, Waikiki WA