Sovereign Home Loans Provide Better Home Loan Rates in NZ

Sovereign Home Loans Provide Better Home Loan Rates in NZ

Almost every Bank out there has a standard when it comes to having an interest rate and a special interest rate. But the thing that you need to keep in your mind is that the special home loan rates are only for those people who have more than 20% equity.  If you have less than 20% it then standard interest rates will be applying for you but if you have more than 20% then a special interest rate will be applying for you. If a standard interest rate is applying…

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Discover The Most Common Construction Defects You Need To Be Aware Of

American homeowners insurance rates - House

If you’re looking to buy a property then you’ll want to know that it’s worth the money you’re spending. Your mortgage company will verify the value of the property but they are unlikely to check for structural issues.  If you don’t then you may find yourself in a house that is unsafe to live in but you can’t afford the repairs, all while paying the mortgage. That’s why you need to employ a reputable construction consultant and be aware of the most common construction defects. It will ensure you are…

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Can personal property be included in the Purchase Agreement?

Personal Property Swing Set

Underwriters are always blamed for being picky but when they see personal property listed on the first page of a Purchase Agreement, they get super crabby.  The underwriter will claim that that the loan will not be insured if there is personal property included in the sale. Here is an example:  The agreed upon Purchase Price of a home is $200,000.  In that $200,000 agreement, the Seller has included an outdoor play set in the backyard. The Play set is not considered “real property” but is considered “chattel” which is…

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12 First Time Homebuyer Mistakes to Avoid

Buying a home

As the housing market and economy continue to strengthen, many folks feel they are back on their feet and are looking to buy their first home.  The price for renting a home continues to increase as well, adding urgency to many young adults. Understanding the Home Buying Process Buying your first home is an intimidating process.  Not only is this uncharted territory, this is usually the largest financial purchase you will make in your lifetime.  Plus, there are a lot of moving parts including finding a home, making the offer,…

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It’s a race to find Homeowners insurance for your new home

home house mortgage loan insurance

It’s usually last on your list of things to think about when your offer on the new home gets accepted; locking down the homeowner’s insurance company you are going to use and securing the policy.  An experienced mortgage broker will insist you get started on picking the insurance carrier as soon as your offer gets accepted. What’s the big rush?  You are thinking that the closing will not take place for 3-4 weeks so you have plenty of time to shop around and get it done.  Why do I have…

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Common Family Financial Problems and Their Solutions

Financial Tips

 Today’s financial worries hit home… The harsh economic realities of recent years have caused many families to  struggle financially. There are several areas in which a family can get into trouble. The following are 5 common areas of distress, and realistic solutions for each. Underwater Mortgage After the recent economic crisis, many families found themselves with an underwater mortgage. Basically, they owed more on their house than it was worth. The first step, especially if a homeowner wants to stay in the home, is to get the house reappraised. If…

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