Experience on Home Loans

TasBurrfoot

Mga veterans here in Australia; share naman your experiences in getting a home loan (i.e. which financial institution, terms, etc...)

Still a long way to go but little by little, we are saving up for this... As early as now, nagbabasa na rin.

Thanks!

JCsantos

kung tinatamad ka mag compare ng homeloans get a broker !

they will do your homework, you dont pay them because banks will pay them for the refferal

wag mag papadala sa mga low interest ... talk to Bank Managers on the details .. at parang interview sa trabaho kailangan meron kang maitatatnong

KurikongSaTumbong

Mga veterans here in Australia; share naman your experiences in getting a home loan (i.e. which financial institution, terms, etc...)

Still a long way to go but little by little, we are saving up for this... As early as now, nagbabasa na rin.

Thanks!

Tawagan mo itong broker ko 0.4.1.4.5.4.7.1.8.8. Jay ang pangalan nya (Indian sya). Magaling sya. Napa refinance nya sa ANZ yung 2 loan namin (bahay tsaka rental property) tapos eh napa approve nya ng 100% yung commercial property loan namin kaya lubog na ako sa utang 3 loan ko huhuhu. Mababa pa nakuha nyang interest. Dati sa St.George ako at me malaki na akong staff discount pero mas mababa pa rin nakuha nitong broker sa ANZ.

Usually 25 to 30 years yang mga loan. Maganda ngayon mababa interest rate. Ipon ka mga 5% ng value nung bibilhin mo tsaka additional na mga $20k siguro para sa mga stamp duty, mortgage insurance etc. marami kasing additional costs involved sa pagbili ng bahay.

Bigyan kita ng idea, kung mga $500K loan mo at 30 years for example eh mga $2,400 a month ang amortisation. Pag mag loan ka sabihin mo gusto mo forthnightly ang bayad at hindi monthly. Malaki matitipid mo sa interest pag ganun arrangement.

JCsantos

Tawagan mo itong broker ko 0.4.1.4.5.4.7.1.8.8. Jay ang pangalan nya (Indian sya). Magaling sya. Napa refinance nya sa ANZ yung 2 loan namin (bahay tsaka rental property) tapos eh napa approve nya ng 100% yung commercial property loan namin kaya lubog na ako sa utang 3 loan ko huhuhu. Mababa pa nakuha nyang interest. Dati sa St.George ako at me malaki na akong staff discount pero mas mababa pa rin nakuha nitong broker sa ANZ.

Kinindatan mo rin ba si Jay? ) ) )

stolich18

@KST and @JCsantos, san po ang magandang location? napapansin ko kase pag medyo sa inner west/north, ang 500K ay parang unit lang. nalalayuan ako sa blacktown area.. may iba pa kayong massuggest na lugar?

JCsantos

@KST and @JCsantos, san po ang magandang location? napapansin ko kase pag medyo sa inner west/north, ang 500K ay parang unit lang. nalalayuan ako sa blacktown area.. may iba pa kayong massuggest na lugar?

" Beauty is in the eye of the beholder " -- pero kami ang beauty e pag mura kaya sa blacktown kami kumuha ) ) )

you need to research your own liking ... kami ni wifey kasi meron kaming personal preference pero it all depends kung kaya naming bayaran ... we prefer blacktown kasi dun lang yun merong mura at safe na lugar ....

KurikongSaTumbong

@KST and @JCsantos, san po ang magandang location? napapansin ko kase pag medyo sa inner west/north, ang 500K ay parang unit lang. nalalayuan ako sa blacktown area.. may iba pa kayong massuggest na lugar?

Maganda sana sa Mosman pero medyo mahal huhuhu (Eastern ito na katabi ng tubig). Kung gusto mo sa Northern suburbs eh Mt. Colah pinaka affordable. Malapit lang sa Hornsby pero mga nasa $800 pataas na rin dun).

Mahirap na talaga makahanap ng $500K na bahay ngayon. Sa mga medyo malapit eh talagang unit na lang mabibili mo dyan. Kung taasan mo ng mga $800K eh makakakuha ka pa sa Castle Hill ng luma pero malaking bahay (pero bihira na nagbebenta ng $800k ngayon dun).

Kung itaas mo pa ng $1M to $1.2 eh maganda sa Wahroonga makakahanap ka pa. Northern suburb din at malapit sa magagandang iskul at train line.

stolich18

madami nga akong naririnig na magandang properties sa North. Ang mamahal naman pag malapit tlga sa City. Ang hirap kase eh, normally sa work kase namin ni hubby, malamang at malamang lagi kami sa CBD. ok lang naman magtravel ng malayo, ang problem kase, kung lampas 1 hr na travel, pano ko susunduin anak namin sa childcare heheheh unless, sa city ko sya ichildcare, kawawa naman, pati sya gigising ng maaga at bbyahe ng malayo, aside from the fact na ang mahal kaya ng childcare sa city. hehehe

nasasayangan kase ako sa bayad sa rent eh, pero alam ko once bumili na ng unit or bahay, tuloy tuloy din ang gastos/maintenance. hehehe

Ano ba advice nyo, as soon as may 5% ka na, dp na agad at bili? Or ipon ipon muna para mas malaki ang pangdown? hehehe ang 700-800K na loan, 1K+ ang weekly repayments noh? hehehe

KurikongSaTumbong

madami nga akong naririnig na magandang properties sa North. Ang mamahal naman pag malapit tlga sa City. Ang hirap kase eh, normally sa work kase namin ni hubby, malamang at malamang lagi kami sa CBD. ok lang naman magtravel ng malayo, ang problem kase, kung lampas 1 hr na travel, pano ko susunduin anak namin sa childcare heheheh unless, sa city ko sya ichildcare, kawawa naman, pati sya gigising ng maaga at bbyahe ng malayo, aside from the fact na ang mahal kaya ng childcare sa city. hehehe

nasasayangan kase ako sa bayad sa rent eh, pero alam ko once bumili na ng unit or bahay, tuloy tuloy din ang gastos/maintenance. hehehe

Ano ba advice nyo, as soon as may 5% ka na, dp na agad at bili? Or ipon ipon muna para mas malaki ang pangdown? hehehe ang 700-800K na loan, 1K+ ang weekly repayments noh? hehehe

bumili ka na agad. hindi na magmumura mga bahay lalo pang tataas next year. bili na ASAP!

JCsantos

Ano ba advice nyo, as soon as may 5% ka na, dp na agad at bili? Or ipon ipon muna para mas malaki ang pangdown? hehehe ang 700-800K na loan, 1K+ ang weekly repayments noh? hehehe

Ako I rather save first .... malaki yung LMI pag umutang ka ng over 90% of the value of the property

parang pang 5 months na mortgage na rin yung

to see the estimate lmi -> http://www.yourmortgage.com.au/calculators/mortgage_insurance/

KurikongSaTumbong

o eto oh bili na $600K lang pasok sa budget

http://www.domain.com.au/Property/For-Sale/House/NSW/Mount-Colah/?adid=2010828585

KurikongSaTumbong

eto pa sa Castle Hill naman

http://www.domain.com.au/Property/For-Sale/House/NSW/Castle-Hill/?adid=2010839371

FlightOZ

Bookmarked.... pag may trabaho na go!!! Hehheheheh...

may minimum time frame ba after arrival or after getting a Job bago maka bili nang bahay?

KurikongSaTumbong

Bookmarked.... pag may trabaho na go!!! Hehheheheh...

may minimum time frame ba after arrival or after getting a Job bago maka bili nang bahay?

Wala naman basta regular ka na malamang approved loan mo. Ako nga nung 2006 eh 2nd day ko pa lang sa trabaho nag apply na ako ng homeloan - na approve naman kaya less than a year lang kami umupa dito. Dumating kasi kami eh Nov 2005 tapos 2006 eh naka loan na pambili ng unang bahay huhuhu.

vhoythoy

5% of value plus around 20k so in pesos more or less dapat may mga 2million pesos ka in cash para maka housing loan. Medyo mabigat din. Sa 500,000 usually ilang bedrooms nba yan? May loan grant assitance ba na bibinigay ang australian govt for new migrants? What if aalis ka din ng australia in few years, madali lang ba maipapasa ang loan or mabebenta property mo kahit under amortisation pa?

TasBurrfoot

kung tinatamad ka mag compare ng homeloans get a broker !

they will do your homework, you dont pay them because banks will pay them for the refferal

wag mag papadala sa mga low interest ... talk to Bank Managers on the details .. at parang interview sa trabaho kailangan meron kang maitatatnong

@JCsantos - ang problema daw sa mga homeloan broker, sometime they don't give you the best picture of your possible options. Since commission based daw sila, they MAY try to sell the package that will bring in big money for them...

But on the other hand daw, you can be able to access some deals which is only available if you course it via a broker.

TasBurrfoot

5% of value plus around 20k so in pesos more or less dapat may mga 2million pesos ka in cash para maka housing loan. Medyo mabigat din. Sa 500,000 usually ilang bedrooms nba yan? May loan grant assitance ba na bibinigay ang australian govt for new migrants? What if aalis ka din ng australia in few years, madali lang ba maipapasa ang loan or mabebenta property mo kahit under amortisation pa?

@vhoythoy

The size of a house that can be bought with 500K is dependent to the location...

There is a First Home Owners Grant and I believe the amount is dependent on which state you live. The amount here is not that big with respect to the total amount of the loan that you will be taking out as this is just a way for the gov't to help offset the tax on your home purchase.

You can always try to sell your property; just bear in mind that dapat may bibili and that there are also corresponding cost to exist from this type of investment.

TasBurrfoot

Ano ba advice nyo, as soon as may 5% ka na, dp na agad at bili? Or ipon ipon muna para mas malaki ang pangdown? hehehe ang 700-800K na loan, 1K+ ang weekly repayments noh? hehehe

If you confident with your financial standing (i.e. may stable work na, etc) and if you have decided where to settle, I would personally say bili ka na...

At least you are starting to build your equity na sa new house mo rather than still continue to pay dead money in rent.

TasBurrfoot

@KurikongSaTumbong and @JCsantos; a few questions if you don't mind:

(1) Which particular financial institution did you take our your loan from?
(2) Did you fix your rate or just took out a variable loan?
(3) What is your take on additional payments versus putting money on a 100% offset account?

I will end it here...

TasBurrfoot

By the way, sa mga taga Melbourne kung gusto ninyo pumasyal, the house of Julia Gillard will be placed under the hammer in mid-December... Open for inspection sya this weekend sa may Altona!!

http://www.domain.com.au/Property/For-Sale/House/VIC/Altona/?adid=2010837024

http://www.heraldsun.com.au/news/victoria/julia-gillards-altona-house-for-sale/story-fni0fit3-1226759283621

Makiki-gulo kami ni misis ngayong Sunday!!

JCsantos

back then we were choosing commonwealth bank and st george, after we got a pre approval from st george we did not try other bank, variable is always better, dati from gigh of 7% bumaba yung rate to almost 5%, sa st george you can do advance payment then withdtaw then kung kailangan mo yung pera so its like an offset account

stolich18

wahahah sige sige salamat sa lahat ng advice. Ok ung mga links ng bahay na niforward ni @kst... cge hahanap muna ako ng permanent job.. lol contractor lang kase ako ngayon for 1 year, bka di maapprove sa bank, and more importantly, wala pa akong pang-down hehehe Thanks!

KurikongSaTumbong

@KurikongSaTumbong and @JCsantos; a few questions if you don't mind:

(1) Which particular financial institution did you take our your loan from?
(2) Did you fix your rate or just took out a variable loan?
(3) What is your take on additional payments versus putting money on a 100% offset account?

I will end it here...

1. Dati St.George tapos nag refinance kami sa ANZ
2. Nung una (from 2006) fixed for 3 years tapos naging variable (perfect naman timing kasi nung fixed sya eh tumaas pa interest tapos nung naging variable bumaba naman interest).
Ngayon puro vriable na.
Eto rates namin ngayon 1. Residential 4.92%, 2. Residential Investment 4.92%, 3. Commercial Property Loan 7.28% (mataas commercial property kasi business loan sya).
3. Ako eh kung sobra naman ang cash eh i additional payment ko na para di ako ma tempt gastusin although maganda talaga yang offset account lalo na pag me pinaghahandaan kang gastos sa future eh maganda na me access ka agad sa pera at the same time eh nakakabawas sa interest expense.

TasBurrfoot

@KurikongSaTumbong and @JCsantos; thank you for the insights above...

Deviating a bit from my topic but wanna know your 2 cents on below:

(1) New house or 2nd hand?
(2) If New on #1; ready built or yung ikaw mismo bibili ng lupa at maghire ang builder?

Kami, as of now, we want to buy a good 2nd hand home... Pansin kasi namin mga new houses are not of good quality eh. In the words of my wife, parang cardboard...

KurikongSaTumbong

@KurikongSaTumbong and @JCsantos; thank you for the insights above...

Deviating a bit from my topic but wanna know your 2 cents on below:

(1) New house or 2nd hand?
(2) If New on #1; ready built or yung ikaw mismo bibili ng lupa at maghire ang builder?

Kami, as of now, we want to buy a good 2nd hand home... Pansin kasi namin mga new houses are not of good quality eh. In the words of my wife, parang cardboard...

Nasa sayo yan walang tama o mali. Pero kung ako eh location, location, location.

JCsantos

@KurikongSaTumbong and @JCsantos; thank you for the insights above...

Deviating a bit from my topic but wanna know your 2 cents on below:

(1) New house or 2nd hand?
(2) If New on #1; ready built or yung ikaw mismo bibili ng lupa at maghire ang builder?

Kami, as of now, we want to buy a good 2nd hand home... Pansin kasi namin mga new houses are not of good quality eh. In the words of my wife, parang cardboard...

Ganito kung marami ka talgang pera e bili ka ng lot at mag hire ka ng builder

kung medyo marami kang pera e New House

at kung meron ka lang pera 2nd Hand

Kasi kami nun basta nagkasundo kami kami ni wifey sa mga preference namin e binibili namin ... like gusto nya malapit sa train ako gusto ko bahay na meron lawn etc etc ....

Ang tip ko lang dont rush ... prepare to walk away kung ayaw nyo wag magpapadala sa sales agent ... at yung nga dapat magkasundo kayo ni wifey mo kung ano talga ang gusto nyo .... at early stage ngayon e isipin nyo yung ideal Property nyo .....

by the way kung meron kayong balak mag invest ng property dont get a unit

stolich18

^ yeah ako rin malaking consideration ang location. Nagresearch ako about Mt. Colah. Mukhang ok nga don.. Malapit pala sya sa Asquith.. Di ba sa may area na yun nagka-tornado (or sa Hornsby pala mismo) hehehe

KurikongSaTumbong

^ yeah ako rin malaking consideration ang location. Nagresearch ako about Mt. Colah. Mukhang ok nga don.. Malapit pala sya sa Asquith.. Di ba sa may area na yun nagka-tornado (or sa Hornsby pala mismo) hehehe

Kahit saan naman pwedeng magka-tornado. Yun namang Mt.Colah eh isa sa pinaka-affordable sa North Shore. Marami pang mas maganda kesa dun syempre pero mas mahal. I-consider mo yung layo sa opis mo kasi kung 2 oras byehe mo eh 4 hours a day yun, 20 hours a week, or 1,000 hours a year more or less depende sa dami ng leave mo hahaha! Time is gold diba kaya isipin mo yung mas maigsi travel time at convenient at peaceful. Ako eh pangarap ko yung Wahroonga - medyo affordable pa sya kahit papaano at maganda surroundings madaming puno. Me lahing unggoy kasi ako kaya gusto ko ng mapunong lugar.

Imagine mo kung 30 minutes away lang yung bahay mo sa trabaho eh 5 hours a week lang mauubos sayo or 250 hours a year.

KurikongSaTumbong

@KurikongSaTumbong and @JCsantos; thank you for the insights above...

Deviating a bit from my topic but wanna know your 2 cents on below:

(1) New house or 2nd hand?
(2) If New on #1; ready built or yung ikaw mismo bibili ng lupa at maghire ang builder?

Kami, as of now, we want to buy a good 2nd hand home... Pansin kasi namin mga new houses are not of good quality eh. In the words of my wife, parang cardboard...

Ganito kung marami ka talgang pera e bili ka ng lot at mag hire ka ng builder

kung medyo marami kang pera e New House

at kung meron ka lang pera 2nd Hand

Kasi kami nun basta nagkasundo kami kami ni wifey sa mga preference namin e binibili namin ... like gusto nya malapit sa train ako gusto ko bahay na meron lawn etc etc ....

Ang tip ko lang dont rush ... prepare to walk away kung ayaw nyo wag magpapadala sa sales agent ... at yung nga dapat magkasundo kayo ni wifey mo kung ano talga ang gusto nyo .... at early stage ngayon e isipin nyo yung ideal Property nyo .....

by the way kung meron kayong balak mag invest ng property dont get a unit

Salamat po sa payo nyo Kuya JC. Maganda po bang mag-invest sa bahay na nasa underwater - sabi po nila safe daw po sa tidal wave yun? Eh kung castle po maganda po bang investment, me kakilala po ako na binebenta yung castle ni Saddam sa Iraq mura lang daw me konting bomb damage nga lang.

JCsantos

^ yeah ako rin malaking consideration ang location. Nagresearch ako about Mt. Colah. Mukhang ok nga don.. Malapit pala sya sa Asquith.. Di ba sa may area na yun nagka-tornado (or sa Hornsby pala mismo) hehehe

Kahit saan naman pwedeng magka-tornado. Yun namang Mt.Colah eh isa sa pinaka-affordable sa North Shore. Marami pang mas maganda kesa dun syempre pero mas mahal. I-consider mo yung layo sa opis mo kasi kung 2 oras byehe mo eh 4 hours a day yun, 20 hours a week, or 1,000 hours a year more or less depende sa dami ng leave mo hahaha! Time is gold diba kaya isipin mo yung mas maigsi travel time at convenient at peaceful. Ako eh pangarap ko yung Wahroonga - medyo affordable pa sya kahit papaano at maganda surroundings madaming puno. Me lahing unggoy kasi ako kaya gusto ko ng mapunong lugar.

Imagine mo kung 30 minutes away lang yung bahay mo sa trabaho eh 5 hours a week lang mauubos sayo or 250 hours a year.

Agree ehehehehe ... ika nga ng ating magaling na PM "shit happens"

stolich18

yes very important sa min na malapit lang sa work dahil hindi mababayaran ng pera ang oras na nawala nang dahil lang sa travel. hehehe kaya nga ung inuupahan namin ay 25 mins away lang from the city via train... hehee chineck ko sa 131500, 1 hour one-way door-to-door ang byahe pag sa mt. colah.. Nicheck ko rin st. andrews, sa may bandang southwest naman sya, 1 hour din byahe.
hehehe maganda rin siguro sa northwest area (the hills, castle hill etc.. kasama pala hornsby dito) lalo na pag nagkatrain line na don... ang mahal na nga ng mga bahay don, for sure lalo magmamahal..