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viewsAhhh good debt versus bad debt! Good debt is easy to explain, the interest on that debt is tax deductible. Meaning you can expense the interest off your income and pay less tax. Bad debt is the opposite, the interest is not tax deductible. This actually includes your home loan! As you have to pay your home loan with your after tax dollars. What do you think of this? ___________________________ Disclaimer: This is general advice and does not take into account your objectives, situations or needs. You should consider if this advice is suitable to you and your circumstances. Please read any applicable PDS beforehand. . . . . . . . #clienttestimonials #clientreview #mortgage #mortgagebroker #mortgagetips #mortgagerates #mortgages #mortgagelender #mortgageadvice #mortgagebrokers #mortgagelending #mortgagespecialist #financegoals #financenews #financing #firsthomebuyer #firsthomebuyers #homeownertips #homebuyingprocess #homeloan #mortgageloan #mortgagehelp #mortgagebanker #mortgageexperts #mortgagebrokerlife #mortgagebrokersydney #mortgagehome
Posted by West Side Capital on Wednesday, November 1, 2023
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viewsA shortfall in settlement means the amount of money you need to come up with at settlement. When buying property you need to have enough funds to cover the purchase price, stamp duty and other costs like legal fees and etc. These funds will come from both your own funds and the loan being borrowed. The shortfall is the difference between the funds required and the loan amount being borrowed. However, often the loan amount approved is a percentage of the valuation of the property. But sometimes lenders can value the property lower than the actual purchase price. This can create a disastrous position because your shortfall is higher than you anticipated! How do we fix it? Either you have to come up with more money. And/Or Borrow more if possible. And/Or Dispute the valuation with data to show that the valuer was wrong. Or Go to another lender and order another valuation. For whatever reasons, some valuers have different opinions on the same property. Calculating the shortfall accurately and having a game plan is crucial so you can be prepared better for settlement. . . . . . . . . . . . #houseauction #auction #mortgage #mortgagebroker #mortgagetips #mortgagerates #mortgages #mortgagelender #mortgageadvice #mortgagebrokers #mortgagelending #mortgagespecialist #financialfreedomstartshere #financialfreedom💰 #financegoals #financenews #financing #firsthomebuyer #firsthomebuyers #homeownertips #homebuyingprocess #homeloan #mortgageloan #mortgagehelp #mortgagebanker #mortgageexperts #mortgagebrokerlife #mortgagebrokersydney #mortgagehome
Posted by West Side Capital on Friday, September 1, 2023
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viewsA shortfall in settlement means the amount of money you need to come up with at settlement. When buying property you need to have enough funds to cover the purchase price, stamp duty and other costs like legal fees and etc. These funds will come from both your own funds and the loan being borrowed. The shortfall is the difference between the funds required and the loan amount being borrowed. However, often the loan amount approved is a percentage of the valuation of the property. But sometimes lenders can value the property lower than the actual purchase price. This can create a disastrous position because your shortfall is higher than you anticipated! How do we fix it? Either you have to come up with more money. And/Or Borrow more if possible. And/Or Dispute the valuation with data to show that the valuer was wrong. Or Go to another lender and order another valuation. For whatever reasons, some valuers have different opinions on the same property. Calculating the shortfall accurately and having a game plan is crucial so you can be prepared better for settlement. . . . . . . . . . . . #houseauction #auction #mortgage #mortgagebroker #mortgagetips #mortgagerates #mortgages #mortgagelender #mortgageadvice #mortgagebrokers #mortgagelending #mortgagespecialist #financialfreedomstartshere #financialfreedom💰 #financegoals #financenews #financing #firsthomebuyer #firsthomebuyers #homeownertips #homebuyingprocess #homeloan #mortgageloan #mortgagehelp #mortgagebanker #mortgageexperts #mortgagebrokerlife #mortgagebrokersydney #mortgagehome
Posted by West Side Capital on Friday, September 1, 2023