11 มีนาคม 2552

How Much Can I Borrow With A Commonwealth Bank Home Loan?

Author: Nicholi Bartholomew

So, you have an idea of the area you would like to buy in. You have decided on the paint scheme for your bathroom and you know the product code for the laminate that you would like fitted on the bench in your dream kitchen. But do you know exactly how much you can afford when it comes to buying your first home with a commonwealth bank home loan? Getting a home loan was once a matter of arranging a meeting with your local bank manager and going through the sums with them in person. Now, thanks to a wealth of technology and an ever-expanding mortgage industry, there are literally hundreds of home loan products available with the click of a mouse. You can also use online tools, such as the Commonwealth Banks home loan calculator, to help you in working out how much you can afford.

The Commonwealth Banks home loan calculator allows you to calculate your choice of the approximate amount you can borrow, your regular loan repayment, or the term of your home loan if you already know the amount of your loan and repayments.You can use the Commonwealth Bank home loan calculator to select from their range of home loan products and see how each product affects your home loan repayments.

Commonwealth Bank home loan

While tools such as the Commonwealth Bank home loan calculator can be useful in approximately your home loan costs, they are often overly simplistic and should be us as a guide only.

There are a number of factors that lenders such as the Commonwealth Bank take into consideration when assessing how much you can borrow. Your monthly income is important, as obviously the more you earn, the more you are hypothetically able to repay, and so the more borrow.

The Commonwealth Bank, and other home loan lenders, would also take into account your living expenses, current debts such as car loans or credit cards, whether you have children and generally your serviceability, which means your ability to repay the loan. Online commonwealth bank home loan tools such as home loan calculators are widely available online. You should use these only as tools for estimations; your financial broker can help you with the real figures. Finally, bear in mind that the lenders with the most impressive technology are the ones with the biggest online marketing budgets, not necessarily the ones with the best home loan products so always shop around.

Nick wants to get people out of debt. Crown home loans helps people get out of debt faster and taking money away from banks. To see how commonwealth bank home loan can suit your needs please visit http://crownhomeloan.com.au/

9 มีนาคม 2552

Borrowing Money to Redecorate Your Home

Author: An Article by John Mussi

Redecorating your home can be a major commitment, and it can be an expensive one as well. One of the easiest ways to take care of this expense is to apply for a loan for the amount that you need, though like any loan it isn't a decision that should be entered into lightly.

Before simply applying for a new loan to pay for your redecoration, you should take the time to consider a few options and make sure that you can find the loan that's right for you and that will cost you as little as possible.

Below you'll find information on the things that you should keep in mind when applying for a loan to finance your redecoration, as well as tips on estimating how much you need to borrow and making sure that you get the right lender and collateral so that you can get the best interest rate you can.

A Few Considerations

Before going out to apply for a loan, you should make sure that you can afford it and that you're not rushing into a new expense that could be better served by waiting until later. Examine your current debts and your income, as well as the capital that you have on hand to finance part of the redecorating process yourself.

Determine what sort of redecorations you want to do beforehand, including any construction or home improvement that may be involved, and make lists of what you're going to need so that you can make the best estimate of how much your redecoration project is going to cost.

Estimating the Cost

Once you've determined that you're not going to have problems repaying the loan, you need to figure out exactly how much you need to borrow. The best way to go about this is to get estimates for everything on your list from at least two or three different suppliers so as to find the best prices on everything that you need.

If you're going to retain the services of professional decorators or any other professionals (painters, contractors, or other construction workers), you also need to get several quotes so as to find the best rates to include in your estimate. Add up all of the costs, subtracting the amount that you can pay for out-of-pocket, and make sure to leave a buffer for any unexpected costs.

Once you've got your best estimate, it's time to choose the right collateral for the loan.

Choosing the Right Collateral

In most cases, the best collateral for this type of loan would be the equity that you have built up in your home... after all, getting a loan to use for home redecoration is a type of home improvement loan so it makes sense to use collateral that is commonly used for that type of loan.

If you don't have enough equity to make this a valid option, however, you should use the highest-value collateral that you can find... this will help to keep interest rates low to make repayment as quick and easy as possible.

Finding the Right Lender

Once you've determined your collateral, it's time to find a lender. Take the time to consider a variety of lenders, requesting quotes for your loan from local banks, finance companies, and even online lending companies.

By exploring a variety of lending options, you're more likely to find the combination of the lowest interest rate that you can find with the loan terms that works out best for you.

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