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Mortgage Finance
Understanding Mortgage Finance
What is Mortgage Refinancing?
Benefits of Refinancing:
- Lower interest rates
- Reduced monthly payments
- Shorter loan term
- Access to home equity
- Debt consolidation
What is Mortgage Refixing?
Benefits of Refixing
- Predictable repayments
- Protection against interest rate increases
- Potential for lower interest rates
- Maintain relationship with current lender
The Greenline Advantage in Mortgage Refinance and Refix
At Greenline, we understand that every homeowner’s situation is unique. Our experienced advisors provide personalised guidance to ensure you make the best decision for your financial future.
01
Comprehensive Review
We thoroughly analyse your current mortgage, financial goals, and market conditions. Our team examines your existing loan terms, credit profile, income, and expenses. We also explore your short-term and long-term financial objectives, such as reducing monthly payments or accessing equity. This holistic approach ensures we have a complete picture of your financial situation.
02
Customised Options
03
Clear Explanations
We believe in empowering you with knowledge. Our team breaks down complex financial terms into plain English, using visual aids when necessary. We clearly explain the pros and cons of each option, demonstrating how different choices could impact your finances over time. We encourage questions and ensure you fully understand each possibility before making a decision.
04
Lender Negotiations
Leveraging our relationships with over 15 lending partners, we negotiate on your behalf to secure the best terms possible. Our volume of business often allows us to access exclusive rates and deals. We advocate for fee waivers and, in unique situations, can sometimes negotiate exceptions to standard lending policies. Our goal is to use our industry connections to your advantage.
05
Seamless Execution
Why Choose Greenline for Your Refinance or Refix?
- Expert Knowledge: Our advisors stay up-to-date with the latest market trends and lender policies.
- Holistic Approach: We consider your overall financial picture, not just your mortgage.
- Time and Stress Savings: We do the legwork, saving you hours of research and negotiation.
- Access to Multiple Lenders: Compare options from various lenders to find the best fit.
- Long-term Support: We’re here to help you manage your mortgage throughout its lifetime.
Strategies to Pay Off Your Mortgage Faster
Start Your Journey to Financial Success
Ready to take the first step towards your financial goals? Whether you’re looking to buy your first home, refinance your mortgage, or seek expert advice on insurance and business loans, Greenline is here to help.
Don’t wait to secure your financial future. Reach out to us today and let’s start building your path to prosperity together.
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The deposit amount can vary depending on several factors, including the property’s value and the type of loan you’re eligible for. Traditionally, most banks require a 20% deposit. However, options are available for lower deposits, sometimes as low as 5-10% of the property’s value. For example, if you’re looking at a $500,000 home, a 20% deposit would be $100,000, while a 10% deposit would be $50,000. Remember that a lower deposit often means you’ll pay more in interest over the life of your loan.
At Greenline, we can help you explore various deposit options and find the one that best suits your financial situation. Ready to discuss your deposit options? Book a call with one of our expert advisors today.
Low-deposit loans can be accessed through various means, and one significant source is Kāinga Ora, a government agency dedicated to making homeownership more accessible for Kiwis. Kāinga Ora offers the First Home Loan, allowing eligible buyers to purchase a home with a 5% deposit. This is significantly lower than the standard 20% required by most banks. The loan is underwritten by Kāinga Ora but provided through selected banks and lenders.
At Greenline, we have extensive experience with Kāinga Ora programmes and other low-deposit options. We can assess your eligibility, guide you through the application process, and connect you with participating lenders. Want to explore your low-deposit loan options? Contact Greenline today for a personalised assessment.
While the deposit is a significant cost, there are several other expenses to consider when budgeting for your first home:
These costs can add up to several thousand dollars on top of your deposit. At Greenline, we can help you create a comprehensive budget for all these expenses. Ready to start planning your budget? Schedule a consultation with Greenline now.
- Lawyer fees: Typically range from $1,000 to $2,500
- LIM report: Around $200 to $400
- Builder’s report: Usually between $500 and $1,000
- Valuation: Approximately $500 to $1,000
- Moving costs: Can vary widely, but budget at least $500 to $2,000
- Insurance: Both home and contents insurance will be required
- Mortgage registration fee: About $180
From starting your search to moving in, the process often takes 2-3 months, not including the time spent saving for a deposit. However, every situation is unique. At Greenline, we can guide you through each step and help streamline the process. Want to get started on your home-buying journey? Reach out to Greenline today.
- Saving for a deposit can take several years, depending on your income and savings rate.
- Getting pre-approval: Usually takes 3-5 business days.
- House hunting: This can take anywhere from a few weeks to several months
- Making an offer and negotiation: Usually 1-2 weeks
- Due diligence (if your offer is accepted): Typically 5-10 working days
- Unconditional offer to settlement: Usually 2-4 weeks, but can be longer.
As a first home buyer, a mortgage broker can be invaluable in several ways:
- Access to multiple lenders: We can shop around for the best deal across numerous banks and lenders, many of which you might not have direct access to.
- Expertise in loan products: We understand the intricacies of various loan products and can match you with the one best suited to your needs.
- Assistance with paperwork: We can help you prepare and submit your loan application, increasing your chances of approval.
- Negotiation with lenders: We can negotiate to secure better rates or terms on your behalf.
- Understanding of government programmes: We’re well-versed in schemes like Kāinga Ora’s First Home Loan and can help you access these.
- Ongoing support: We’re here to answer questions and provide guidance throughout the entire process and beyond.