About Us   |   Choose a Loan    |    Loan Calculator    |    Services   |   Why Us    |    Newsletter    |   FAQs   |   Licenses    |   Contact Us  
I would like to ....
 
Car & Personal Loans
 

 
FAQ
 

I am a first home buyer. What should I be doing ?

Here are some tips that could save you a lot of time, money and trouble.

Plan ahead.
Establish good credit rating and save as much as you can for a deposit and other related costs of purchasing and moving into a property. Focal Point will assist you if you have any questions. Focal Point can assist you with planning to save.

Consider your situation carefully.
Make sure you are ready to take on a long term debt. Decide where and what you would like to buy.

Know what you really want in a home.
How long will you live there? Is your family growing? What are the schools like? How long is your commute? Consider every angle before diving in.

How much can / should I borrow ?
What a lender is willing to lend you and what you are comfortable borrowing are two entirely different things. Focal Point can do a borrowing capacity check with you and help you decide what is practical.

How much deposit do I need ?
Depends on various factors like where you are buying, what you are buying, your credit history, your employment and income history, your Australian residency, etc. Focal Point can assist you in finding out.

What other costs would I pay ?
Some of the common costs involved may be Loan establishment and settlement costs, conveyancing costs, Lenders mortgage insurance, Govt stamp duty and other costs (you may be eligible for exemptions), transport and moving in costs, etc. Focal Point can assist you in finding out.

What govt assistance can I get ?
You may be eligible to claim the First Home Owners Grant. You may also be eligible to claim the NSW Stamp Duty Exemption. Focal Point can assist you in finding out.

What type of loan is right for me ?
Honeymoon rates, fixed rates, variable rates ? What features would I need ? What is important ? There are dozens of lenders with thousands of products out in the marketplace, all claim they are the best. Focal Point can assist you to help decide what features you want and which product will work to your best long term advantage.

Get finance pre-approved before you start looking for property.
Consult a reputed professional, find out your borrowing capacity, confirm your suitability to apply for a loan and get pre approval from a lender. Focal Point will assist you to find the right lender and product for you.

I have had a home loan for a while now. Want to know if it is the right type for me and if I am paying too much interest.
The home loan market has changed significantly, for the better, in the last few years. More lenders have entered the market with better products, terms and interest rates. You may be paying hundreds or thousands of dollars more than what you should be. Focal Point can do a free finance health check for you, probably save you a lot of money and suggest ways to help you to pay off your mortgage sooner.

I have had a home loan for a while now. I am looking at various options.

You may be looking at extending your home, or upgrading (selling this property and buying bigger home), or buying vacant land and constructing new home, etc. How do you go about it ? What do you do first ? Focal Point can assist you. We can discuss your needs and goals, help you choose the right method, structure, lender and product to fulfill your long term goals.

I have had a home loan for a while now. Also have few other debts. Don't know where all my money is going.
A familiar situation we come across every day. Have a home loan, probably a car loan or two, a personal loan or two, a credit card or two maxed out. Suddenly cashflow is tight ........... Focal Point can assist. Can work with you to help consolidate debts, ease cashflow and payout your mortgage sooner. 

I have had a home loan for a while now. Looking to invest for my future and retirement.
You may be thinking investment property. Maybe residential property, or commercial property, or a holiday home, or shares and managed funds, etc. Focal Point can assist with the right structure, right lender, right product and help you fulfill your long term goals. 

Want money for personal purposes, a vehicle, equipment, business, etc.
You may or may not own property. You need money for a holiday, to buy furniture, for personal expenses, to buy a car / motorbike / boat, to finance equipment for your business, etc. Focal Point does it all. We can assist you in working out what you need, suitable structure, lender, product and features to meet your long term goal.

I am over 60 and own my home. I need money for a worthwhile purpose.
You have lot of assets but modest income. You may need money to help your children, to supplement your income, to improve your lifestyle, to buy a car / boat, etc. You do not necessarily want to make repayments on your loan. Focal Point can assist. We can work with you to assess your needs, suggest suitable options, structure, lender, product and features to meet your long term goals.

I am self employed. How does that change my borrowing options ?
You are self employed. Your income streams are complicated. Your paperwork is not available. Not a problem. Most lenders have flexible products to cater to your needs. Buying a home, investment property, personal loan, vehicle and equipment finance, etc. is much more easier for self employed persons in today's market. Focal Point can assist. We can assess your needs, suggest suitable options, structure, lender, product and features to meet your long term goals.

 


Copyright @ 2008, All Rights are Reserved
About us | Contact us | FAQ