On February 12, 2020, the Reserve Bank of New Zealand (RBNZ) announced to keep the Official Cash Rate (OCR) at 1%. Some people might be wondering, with the latest OCR development, what are the New Zealand mortgage rates forecast for the year of 2020? Are New Zealand mortgage rates going up or down in 2020? Given the current circumstances of mortgage rates, how long should I fix my mortgage for in 2020?
A HOA, or Home Owner’s Association, is an association to help manage and maintain the community space of a property. It also sets policies to regulate what residents can or can’t do in the community (think parking RV’s long term, or replacing the roof of a condominium), and can be managed by community members, a private company, or a mixture of both.
Some people dislike HOA’s for this reason, while others find them to be a fantastic way to guarantee a high-quality community, that is well maintained.
HOA’s are typically found when you buy a townhouse, condominium, or single-family home within a planned development. The association usually has a monthly fee required for residents of that specific community. Fees vary widely, as each HOA is managed differently, and has different functions.
HOA’s can influence your mortgage amount, since banks factor in the cost in addition to your monthly mortgage.
To put it simply, if HOA fees are low, your mortgage amount can be higher. If HOA fees are high, your mortgage amount will be lower. The easiest way to determine what you can afford is by working with a lending professional and becoming pre-approved.
Do you worry about interest rates going up and increasing your monthly repayments?, but you don't want to be tied to a fixed rate loan. You may then wish to consider a split home loan.
Split loans allow you to fix a portion of your loan amount and have the other portion as a variable rate. This allows you flexibility to pay extra into the variable loan and attach an offset account as well as knowing part of your loan is safely fixed at the nominated interest rate.
Oh, this could not be more accurate. We get it, buying a new house is exciting! But one thing we stress with all our clients is to not make ANY big purchases during or after the home buying process? Why? We take a look at our latest blog. Link in our bio >> @qmortgages .
15,264 suburbs in the country - where are you positioning your investment portfolio? Check out Alex’s fun fact of the day to hear where we’re positioning our clients!
1 31 hour ago
Shout out to Ethan & Tasha Tijerina! Thank you to the wonderful Beverly Harmon with @allcityrealestate & @netcoheights for making this a smooth & fabulous transaction. Team Tharpe appreciates the business & the love! So grateful for Beverly’s kids first home purchase, what a blessing. Thank you all!
1 141 hour ago
Get in touch with Eagles Mortgage if you would like to be a first-time home owner, or would like to know how to renegotiate a current loan agreement with better terms. We can help!
We’ve recently had several conversations with clients in a row that highlighted a concern worth sharing with you. And that’s introductory home loan rates.
Buying a property is an exciting time and it can easily become overwhelming, so it’s a good idea to cover the basics and familiarise yourself with different loan types, and how changes in interest rates can affect how much you need to repay for the lifetime of your loan.
Don't hesitate to contact us anytime for assistance in purchasing your first property.
1 61 hour ago
Are you thinking about buying a home? Has it been awhile since you’ve purchased a home? If you’d like some of the most current information and what it’s like to work with this fantastic team of professionals then join us on Tuesday, March 24th from 6-8pm at 1305 Kenaston Blvd in the Royal Lepage Boardroom. Call or email to reserve your spot as seating is limited!!!
2 121 hour ago
First day of training went very well. I have not officially started yet due to waiting for my background check to clear and have my license in hand. So in the meantime I'm learning the computer systems, the process, meeting with staff, and learning what it really takes to be successful at this work. There's always a blueprint that's laid out for us. How successful we become is determined on how well we follow that blueprint. Today I received alot of wisdom on the do's and don't from someone who's been in the mortgage industry for over 20 years. He showed me what I will need to do to reach my goals. So simply I'll follow his directions. Let's make it happen!
- #mortgage#brokerthanmost#thebroker#realestate#hawaiiliving#hawaii#mortgagebroker loans #motivation#mindsetofgreatness#higherliving#disciplineoveremotion#success#faithful
Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation). (Graphic credit: Napkin Finance)
1 102 hours ago
Most mortgages are portable - so long as you qualify.
In a mortgage and looking to move? It’s always best to find out your options before you list. This includes penalties, or how you can avoid them.
Check out the link in my bio, download my app and connect today to see your options. .
Split Home Loans
Deciding whether to choose a variable or fixed home loan can be difficult, so split mortgages can potentially offer the best of both worlds.
Split home loans allow you to portion your mortgage into a variable component and a fixed component with different rates of interest.
Fixing a portion of your loan is especially beneficial when interest rates are rising, as it can protect you from the impact of future rate hikes. Having a variable component can also be useful as it allows you to make additional repayments, as well as potentially accessing benefits such as redraw or offset accounts.
There are also many other features you can access as part of your home loan, including bundling your mortgage with credit cards, insurance and bank accounts. The key is to find what works best for you and your own financial circumstances. For professional advice on all of these features, speak to your mortgage broker.
Hey everybody! I’m happy to announce I’ve joined forces with Neighbourhood Dominion Lending Centres as a Mortgage Agent! I have access to the very best products and rates available across the province. Whether you’re a first-time homebuyer, an experienced buyer looking to refinance for an investment property, or retired and looking for some extra capital to fund that trip of a lifetime, I can be of help with your mortgage and financing needs.
Learn how and why you should take advantage of your VA Home Loan Benefit. Let think mortgage help you. Call us today 800-955-1677 or visit us @ www.thinkmtg.com #VALOANS#HOMEBUYING#mortgagebroker
0 62 hours ago
Lets talk mortgage! How do you know what to look for in a mortgage lender? Do you go to your local bank? A mortgage broker? Do you know what the interest rates are? Do you know what your credit score should be the type of loan you are needing, how much you might need for your down payment and/or closing costs? All of these can be overwhelming if you don’t know where to start! That’s where your real estate agent comes in. Not only do we help you buy and sell at the best prices available, we can also help you find the lender that fits your needs. Message me today and let’s get your mortgage questions answered and start you in the right direction!
When it comes to professional services, strong financial performance and innovative products, Conexus is the place to bank. We’ll support you in reaching your unique goals. We understand that it’s not about how much you make, but what’s important to you. 👩🏻💼
In the work values assignment the outcome that I got was personal relationships. I agree with this outcome because I like to spent time with my friends and family. I try to plan stuff with friends and family when ever I get the chance to. I wouldn’t want to lose my friends and family because of a job that I do. I would like to have a job that u get to work with people and do hands on stuff not like an office job. #salesperson#familydoctor#realestateagent#mortgagebroker
0 03 hours ago
Rich quickly breaks down what a #CashOutRefinance is and some of the reasons why it may be utilized! 💰
Good morning! Outfit| @prettylittlething#plt Click the link in my bio above to set up a free credit consultation with me. I just closed on another rental property! I’ve been able to accomplish my goals in just one year. It all started with fixing my credit. Are you ready to start your journey to bossin’ up? It’s not as hard as you might think. Let’s talk! 😉