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Smart Choice Mortgage

Why is taking out an Aussie Personal Loan a Smart Choice?

We ask John Symond why taking out an Aussie Personal Loan is a smarter choice for managing larger loan amounts than common alternatives such as a ...

Residential real estate at healthy levels: Mortgage Choice

“While we do have high levels of debt in Australia, data from CoreLogic shows the proportion of income needed to service current household debt is actually lower now than it was in 2011.

“In 2011, the proportion of household income required to service an 80 per cent LVR mortgage across the combined capital cities was 43.92 per cent. By 2016, that percentage had dropped to 35.02 per cent thanks, in part, to historically low interest rates.”

Therefore, as Mr Flavell explained, while property is expensive and household debt is at high levels, Australians are better off now than they were five years ago.

Lending practices, he continued, are also approving, when compared to the past.

“Twenty years ago, a home loan application was a single sheet of paper and the level of data that was collected by a lender was scant,” he said.

“Only 10 years ago, approximately 50 per cent of all home loan applications in Australia required borrowers to certify their income and their asset position. These loans, commonly referred to as low-doc or no-doc loans, were very popular within Australia.

5 money moves to make in your 30s

As you can see, 32- to 37-year-olds had a median savings amount of just $480 in their retirement savings in 2013 (yikes!), and that number was down from $1,123 in 2007. EPI notes that the median savings numbers are so low because nearly half of Americans don't have any retirement account savings at all. These numbers show just how important it is to not just start a retirement savings account, but to keep funding it as well.

If you already have a 401(k) at your current job and save a specific percentage of your income then great! But now is the time to slowly raise that percentage. Consider bumping up contributions by 1 percentage point as a first step. If you can handle more that's great, but the point is to start putting more money aside. If you can't swing an increase in contributions right now, then consider doing it the next time your employer gives you a raise.

Also, if you're not taking advantage of your employer's matching

Can I still Refinance If I'm Self Employed? I have an Option ARM mortgage and am afriad of rising rates!?

I JUST started my own business and bought a new house and between the two I'm kinda broke. Started the business about 6 months ago and I've been moved in here now for about 12 weeks now.


First of all, don't worry about your ARM going up unless you are getting close to the adjustment date. If you have a 3-year ARM and you just go it, you have 3 years to not worry. Make sure you understand the terms and dates of your ARM.

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