Home Finance

Although house buying represents perhaps the most expensive purchase we will ever make, few people actually use their own money in the entire transaction.

Make sure you choose the right home financing option for you. Use the Buyz123 three step guide to assist you in the selection process.

Step 1: Research   

The Buyz123 guide
Read how this guide can assist your decision-making and ensure that you consider all your options before making a final choice. more

What is available on the market?
Research the various types of home finance options that are available on the market and what features you need to know about before you make a decision. more

• Type - fixed-rate, standard variable / ARM, basic variable, honeymoon
• Fees - set-up, closing, on-going account
• Loan Amount - 70%, 100%, 110% of property value
• Repayment period - 25, 30, 40, 45 years

Is it suited to me?
Ask yourself these key questions to make sure that your home finance option is the “perfect fit” for you. more

• Have I arranged finance before?
• What do I want to use the mortgage for?
• How much money can I put towards the deposit?
• What would be an ideal repayment period?

> Research Links
> Video Links


Step 1: Evaluation   

Once you know what's available - it's time to narrow down the options
Look at how well each particular home finance option meets your particular needs and eliminate the ones that don't suit you. more

• Advantages and disadvantages of different loan types
• Costs of borrowing with particular lenders
• Assistance for those with special circumstances
• Specialized loans - line of credit, reverse mortgages

My features list
Use this list to get a quick and effective overview of the finance option and to ensure that it has all the features that are most important to you. more

Comparing home finance options to one another
Consider these questions to help you make that final choice. more

• Which of these financing options best meet my needs?
• Which home finance is the easiest to repay?
• Which home finance has the best interest rate?
• Which do I like the best?

> Evaluation Links

Step 1: Purchase   

I want to apply for it - but how?
The different ways you can apply for home finance and the pros and cons of each method. more

• Internet, mortgage broker, bank, non-bank housing lender, finance company
• Choosing a lender - questions to ask
• The final decision

> Purchase Links