Home Loans Perth

There’s More Than One Way To Buy A Home

Fixed or Variable?

As a general rule most people fix their monthly mortgage payments when rates are low and opt for a variable payment when interest rates are high or fluctuating. Some lenders will reduce their fixed rates in order to attract more customers but remember, if you fix your payments and interest rates go down, you will lose some of the benefit of a fixed rate home loan.

Many lenders penalise fixed term customers with extra payments and early ‘break fees.’ Some have conditions which lock you into a fixed rate loan no matter what happens to interest rates. It is even possible, if interest rates take a dive, for those with variable rate loans to be paying less than those with fixed rate loans.

Your financial situation and personal preferences should always be the guiding factors in whether to choose a fixed or variable home loan. Both loan types have their pros and cons and choosing can be a tricky business unless you have the experts at TAG Finance on your side.

Contact TAG Finance today to find out how we can help you.

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Low Deposit Home Loans

The first thing you need when buying a home is a deposit. A typical deposit might be 20 or 25% of the overall value of the home. The rest is paid in monthly instalments over a period of years. Saving the initial deposit is one of the primary problems which prevents young couples from making that all-important step to home ownership.

One solution is a low deposit loan. TAG Finance has access to lenders who, given the right circumstances, will lend up to 98% of the purchase price leaving you to find just 2% deposit. Some low deposit loans even waive mortgage insurance and have access to additional funds up to $2000 to cover associated costs.

To find out if you qualify for a low deposit loan through TAG Finance contact TAG Finance today to find out how we can help you.

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Short-Term Finance

This is the loan for those who want to secure their new home before selling the current one or want to stay in their present home while the new home is being built. During the bridging period flexible repayments can be arranged and, when the sale is completed, the loan can be converted to virtually any type of mortgage and applied to the new property.

Contact TAG Finance today to find out how we can help you.

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‘Low Doc’ Home Loans

Low documentation loans are designed primarily for self-employed people and investors with good incomes and sound assets but who may not have the time to organise the necessary paperwork such as financial statements, income verification documents and tax returns.

Low Doc loans are available on Standard Variable Rate Home Loans, Line of Credit Home Loans or Fixed Rate Home Loans.

Contact TAG Finance today to find out how we can help you.

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'No Frills' Home Loans

As the name suggests this is a simple loan suitable for those who can only pay minimal monthly payments. It usually applies to loans of around $300,000 or less.

Low cost ‘no frills’ home loans feature interest rates that are always lower than the standard variable rate, which means you can pay off your home loan sooner, but this loan has no extras. That’s the major benefit but there are disadvantages too. Some of these loans attract a one-off upfront payment and ongoing fees of around $5 to $10 per month. Should you be in a position to make additional payments, these will go straight into your loan account where they will reduce the capital amount borrowed but there is no offset account and therefore no redraw facility. Withdrawals can sometimes be made available but usually at a cost of up to $50*.

Contact TAG Finance today to find out how we can help you.

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*Conditions apply

First Home Buyers

If you are buying your first home as a residential property, you will almost certainly qualify for a number of benefits and assistance packages.

You need to know what you can afford to pay in monthly instalments and what assistance you can get. For example, if you are buying a newly built home you may be entitled to a $10,000 grant from the federal government. There may be other government grants that you can apply for. Some lenders offer even more financial assistance if you choose one of their mortgages and it’s good to know that no stamp duty applies to first home purchases of less than $430,000.

TAG Finance can advise on all the benefits available to you as a first home buyer.

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How much can I borrow?

This depends on a range of factors including your personal circumstances, the price of the property and any valuation that may be required. An independent valuation of a property may not always reflect the purchase price.

Depending on the lender, you may be able to borrow up to 95% of the valuation depending on your ability to repay. It’s worth noting that loans of more than 80% valuation often require mortgage insurance for which the borrower pays.

Contact TAG Finance today to find out how we can help you.

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The Next Step

The home mortgage market is complicated but there’s a loan for you no matter what your financial and lifestyle situation. The first thing to do is contact TAG Financial and explain briefly what it is you need. Arrange an appointment and a TAG Finance Home Loan Specialist will be allocated to you. It might take more than one meeting and you might be asked to produce some documentation regarding your income, budget, financial plans and existing loans, but you will save hours of hard work and stress when it comes to buying your first home.  We can tell you how much you can borrow, and advise you on the best loan.

Contact TAG Finance today to find out how we can help you.

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the Banks to you!

TAG Finance has access to all kinds of lenders including:

Home Loanshome loan brokers

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TAG Financial Group

TAG Finance can bring the banks to you. We deal with all major banks and building societies plus others with which you may not be familiar.

While we specialise in home loans, our experienced mortgage brokers can obtain loans for virtually any purpose including equipment financing and investment loans.

We can also advise on debt consolidation strategies designed to reduce interest and save you money.

Find out more about:

Home Loans Refinancing Debt Consolidation
Repayment Calculator

Enter a loan amount you would like to borrow, an interest rate and the term of the loan to get the minimum monthly repayment figure and the amount of principal and interest paid.

About the Repayment Calculator

This loan simulation is not an offer and has no legal effect. It is a rough guide only. All interest rates, repayments and other benefits are based on a personalised simulation and certain assumptions and are approximate only.

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