Nfinity Financials

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Why is it a smart choice to contact our mortgage brokers

Your expert guide in home buying journey

It is not an easy task to buy your first home. In fact it sure is one of the biggest financial decisions one makes in a lifetime. There is too much to know as it will be a completely new learning curve and no doubt there will be a lot of anxiety.
Therefore it definitely helps to have someone by your side throughout the home buying journey, making sure you understand the process every step of the way.

More options for all client profiles

Type of employment can have a bearing on what loan option and which bank will be best suited for you. We get cases for a lot of self employed clients who say that it has been difficult for them to get the desired loan. Our brokers specialise in loan applications for all types of employment. Whether you are self employed or on a casual or part time employment or having irregular incomes, our brokers have in-depth knowledge of the bank policies and can suggest a loan solution as per your unique situation.

Access to a wide range of loan products

Our brokers work for your benefit. They are not working for a particular bank, or vendor or any real estate agent. They have just your best interest in mind and therefore can compare a wide range of loan products.

Personalised attention

With Nfinity Financials you will get a personalised attention to your requirements, which you may not find with big corporate style financial institutions or banks. Our clients are our first priority.

Frequently asked questions

Can’t find the answer you’re looking for? Please chat to our friendly team.

1. What is my borrowing capacity ?

When you ask for a loan, like for a car, personal expenses, or using a credit card, lenders look into your finances to decide how much you can borrow, how much interest you will pay and how long you will have to repay it. Each lender has their own way of figuring this out, but it’s important to understand the basics before applying for any kind of loan.

Typically, lenders expect you to save between 10% to 20% of the property’s price. For instance, if a lender offers a ‘loan-to-value ratio‘ or ‘LVR’ of 90%, you’ll need at least a 10% deposit. If it’s an 80% LVR, you’ll need at least a 20% deposit.

It completely depends on your financial goals and circumstances. The common options include –

Fixed-rate loans: These are ideal if you prefer consistent repayments.
Variable-rate loans: these are good for flexibility because these fluctuate with the market
Split loans: Combine fixed and variable components.
Interest-only loans: These need Lower repayments initially and these are best suitable for investors.

Stamp duty is a tax that the government in Australia charges when you buy certain things like real estate. This tax applies to things like transferring property titles, buying cars, getting insurance, and taking out home loans.
If you want to know about how much stamp duty will you need to pay, please use stamp duty calculator.

If a borrower’s equity or home deposit is less than 20% of the property’s worth, they may be required to pay an insurance fee known as lender’s mortgage insurance, or LMI. Otherwise put, debtors with an LVR (loan-to-value ratio) greater than 80%.

P&I Repayments: It includes both the loan principal (amount borrowed) and interest. It reduces the loan balance over time.
IO Repayments: It Cover only the interest for a set period (e.g., 5 years).
It has lower initial repayments but the loan balance remains unchanged.

Offset Account: A savings account linked to your loan. The balance reduces the loan amount on which interest is calculated. For example, with a $300,000 loan and $50,000 in offset, interest is charged on $250,000.
Redraw Facility: It gives you access to extra repayments made on your loan. For instance, if you pay more than required, you can withdraw the surplus funds.

This includes –
Property details
Sale price
Deposit amount
Settlement date
Special conditions (e.g., subject to finance or inspection)
Always review the contract with a solicitor or conveyancer before signing.

Interest on a home loan is calculated daily based on the loan balance and charged monthly. The lender applies the annual interest rate to the loan balance and divides it by 365 to determine the daily interest. Over a month, the daily interest is summed up to calculate the total interest charge.
For example, on a $500,000 loan with a 5% annual rate, the daily interest would be around $68.49. The total monthly interest depends on the number of days in the month. Making repayments more frequently (e.g., fortnightly instead of monthly) can reduce the interest payable over time.

Still have questions?

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