Investment Loans

Buy your first investment property or expand your portfolio with an Investment Loan

For those considering expanding their financial horizons, investment loans can be an essential tool. At My Finance Friends, we specialise in helping clients in Parramatta and beyond access investment loan options from banks and lenders across Australia. Whether you're eyeing your first investment property or looking to grow your investment property portfolio, understanding the intricacies of investment loans is crucial. Our expertise ensures you not only find the right investment loan options but also benefit from a streamlined application process tailored to your needs.

When it comes to investment loans, one of the first steps is understanding your borrowing capacity. This involves analysing your financial situation, including bank statements and credit history, to determine how much you can borrow. Knowing your borrowing capacity is crucial before applying for an investment loan, as it helps set realistic expectations. We assist in calculating investment loan repayments so you can see how different loan amounts affect your finances. Another consideration is the loan to value ratio (LVR), which plays a significant role in determining the need for lenders mortgage insurance (LMI).

The interest rate is another critical aspect of investment loans. Whether you prefer a fixed interest rate or a variable interest rate, each option has its benefits. A fixed interest rate provides stability, ensuring that your repayments remain constant over a set period. In contrast, a variable interest rate might offer flexibility and potential savings if rates decrease. Our role is to help you weigh these options and decide which suits your financial goals best. Moreover, we can inform you about potential interest rate discounts available to those with strong credit histories or substantial initial deposits.

Additionally, when buying a home or an investment property, it's vital to account for additional costs such as stamp duty. These fees can impact your overall investment, so having a clear picture of all expenses involved is essential. In the dynamic property market of Parramatta, staying informed about these costs and the current trends can give you a significant edge. We are here to simplify the investment loan application process for you, ensuring that every aspect, from application to approval, is handled efficiently.

Considering the potential complexities involved in applying for an investment loan, our goal is to make the process as straightforward as possible. We provide guidance through each step, from comparing investment loan options to submitting your investment loan application. Our experience with banks and lenders across Australia enables us to find competitive offers tailored to your needs. We are committed to ensuring that your journey towards owning an investment property is smooth and rewarding.

As you embark on your investment journey, remember that My Finance Friends is here to support you every step of the way. With our expert guidance, accessing investment loan options becomes less complicated and more rewarding. Whether you're securing your first investment property or expanding your investment property portfolio, our team is ready to assist with a streamlined application process. Contact us today to explore how we can support your financial ambitions with the right investment loan options.

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Getting an Investment Loan

Step 1: Initial Meeting

Your property journey begins with an in-depth conversation with your Finance & Mortgage Broker. Whether you’re purchasing your first property, investing in real estate, or looking to refinance, your broker will take time to understand your property goals, financial situation, and any special conditions that may apply. This is when you'll discuss your borrowing capacity and explore loan options from a variety of banks and lenders across Australia. Your broker will also walk you through interest rates, LVR, and any possible LMI that may come into play.

Step 2: Financial Check

The next step involves your broker conducting a thorough evaluation of your financial position. This includes reviewing your income, bank statements, assets, liabilities, credit history, and savings. Your broker will then calculate your borrowing capacity, helping you understand how much you can afford to borrow and how much your monthly repayments might be. Your broker will also assess whether you qualify for any interest rate discounts or government schemes, like first-home buyer grants.

Step 3: Loan Selection

Based on your financial situation, your broker will research and present a list of loan options from a variety of lenders. These loans will be tailored to meet your needs and goals, whether you’re looking for a fixed interest rate loan, variable loan rates, or a more flexible loan that offers an offset account. Your broker will also explain the loan-to-value ratio (LVR) and help you weigh the pros and cons of each loan option, ensuring you’re making an informed decision.

Step 4: Pre-Approval

Getting pre-approved for a loan gives you a clear understanding of your budget and strengthens your negotiating position when bidding for a property. Your broker will help you through this process, ensuring all necessary documents, including tax returns, pay slips, and bank statements, are submitted to the lender. Pre-approval also gives you confidence to act quickly in the local property market and avoid the risk of missing out on your desired property.

Step 5: Application Submission

Once you’ve selected the right loan, your broker will manage the application process for you. They will submit your application to the lender and ensure that all required documents are provided. This may include additional paperwork such as proof of assets, liabilities, and other relevant financial information. Your broker will handle communication with the lender, addressing any questions they may have and ensuring a smooth, streamlined application process.

Step 6: Loan Approval & Settlement

After your loan is approved, your broker will assist in reviewing the final loan agreement, ensuring that all terms, including interest rate, fees, and repayment schedules, are understood. They will also help set up your repayment structure and help arrange any necessary insurance, such as home loan protection. Once settlement is confirmed, your property ownership is officially complete, and you’ll receive access to the property.

Step 7: Ongoing Support

Once your loan is settled, your Finance & Mortgage Broker remains available for ongoing support. This may include advising on managing your loan repayments, exploring the possibility of refinancing, or helping you tap into your home equity for future property purchases. Your broker’s role doesn’t end at settlement—they’ll be there to guide you through the entirety of your property ownership journey.

Our Latest Reviews

Kylie Spencer

Charbel came highly recommended by a family member and he’s certainly didn’t disappoint. Charbel helped secure finance for me for my first solo home purchase which would have been a daunting process if I had to deal directly with the banks. ...

Fantastic service with great communication throughout. Definitely a 10/10. Thank you Charbel.

Angela Wakim

Fantastic to deal with and excellent customer service. Highly recommend!

Ketsada Vang

Highly commendable 5 star service! Charbel is a truly professional broker, with exceptional industry knowledge and experience. We were kept well informed every step of the way. Charbel provided support when needed, and went above and beyond ...

Sam Akram

I highly recommend using Charbel. He is extremely knowledgeable and delivers what he promises. Extremely happy to have him as my broker.

Olla Elias

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Frequently Asked Questions

What's the difference between using My Finance Friends versus going directly to a bank?

When you approach a bank directly, you're limited to their specific loan products and pricing, regardless of whether they're the most suitable for your situation. As mortgage brokers, we provide access to loan products from multiple lenders, allowing comparison of rates, features, and lending criteria to find options that match your needs. We act as your advocate throughout the process, negotiating terms and handling communication with lenders. Our experience with different lenders' requirements means we can identify potential issues early and structure applications for optimal approval chances. We also provide ongoing service after settlement, monitoring your loan performance and market conditions to identify refinancing opportunities. Banks focus on their own products and targets, while our success depends on finding solutions that work for you. This includes access to specialist lenders who may approve applications that major banks decline, and wholesale rates that may not be available to direct applicants.

What documents do I need to provide when applying for a home loan through My Finance Friends?

The documentation required varies depending on your employment type and the complexity of your financial situation. Generally, you'll need recent payslips (usually the last two), tax returns from the previous two financial years, bank statements covering three to six months, and identification documents such as your driver's licence and passport. If you're self-employed, additional documents like Business Activity Statements, profit and loss statements, and accountant-prepared financial statements may be required. Property-related documents include the contract of sale or property details for refinancing applications. We provide you with a comprehensive checklist tailored to your specific situation and can advise on alternative documentation if you don't have standard employment arrangements. Our team reviews your documents before submission to ensure completeness and accuracy, potentially speeding up the approval process.

How do interest rates work and can My Finance Friends help me get a lower rate?

Interest rates are the cost of borrowing money and significantly impact your monthly repayments and total loan cost over time. Rates vary between lenders and loan products, with factors like loan-to-value ratio, employment type, loan amount, and relationship with the lender all influencing the rate offered. Our relationships with multiple lenders and understanding of their pricing structures help us identify competitive rate options for your situation. We can also negotiate with lenders on your behalf, particularly if you have strong financial credentials or are borrowing a substantial amount. Beyond just the interest rate, we evaluate the total cost of the loan, including fees, charges, and features that provide value. We explain different rate types, such as variable, fixed, and split rate options, helping you choose the structure that aligns with your financial goals and risk tolerance. Regular loan reviews ensure you continue to receive competitive rates over time.

How long does the mortgage application process typically take with My Finance Friends?

The timeframe for mortgage approval depends on several factors, including the lender's current processing volumes, the complexity of your application, and how quickly you can provide required documentation. Generally, most standard applications take between 7 to 21 business days from submission to formal approval. Pre-approval can often be obtained more quickly, sometimes within 3 to 7 business days, giving you confidence when house hunting. We work to expedite the process by ensuring your application is complete and accurate before submission, maintaining regular contact with lenders, and promptly responding to any additional information requests. For urgent situations, such as auction purchases or short settlement periods, we can identify lenders with faster processing times. We keep you informed throughout the process and provide realistic expectations based on your specific circumstances and chosen lender.

What does a mortgage broker do and how can My Finance Friends help me?

A mortgage broker acts as an intermediary between you and potential lenders, working to find suitable home loan options that match your financial situation and goals. At My Finance Friends, we assess your income, expenses, credit history, and property requirements to identify appropriate lending solutions from our panel of banks and non-bank lenders. We handle the application process, coordinate with lenders on your behalf, and provide ongoing support throughout the settlement process. Our role extends beyond just finding a loan - we educate you about different loan features, explain terms and conditions, and ensure you understand your obligations. This service can save you considerable time researching different lenders and help you avoid costly mistakes that could affect your borrowing capacity.

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Suite 3, Level 1, 19-21 Wentworth Street, Parramatta NSW 2150

0478466639

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My Finance Friends Ptd Ltd ABN: 73 643 473 894. Credit Representative Number 525231 of Australian Credit License Number 384704.

Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.