Frequently Asked Question

How is my property equity calculated?

Equity is the difference between what your property is worth and how much you owe on it. BUT, that is not quite correct! Calculating equity can be quite confusing when done on your own. Learn how your property equity is calculated firsthand from the experts.

Why do you factor in our living expense?

It costs a lot to run a household, with food, expenses, clothing and other things such as travel costs. When assessing your ability to repay the loan, lenders will factor in certain costs allowing for the number of adults and children in the household. This way they are making sure you can repay the loan without overcommitting yourself. . An important part of responsible lending.

Can I use my family as a guarantor?

Can you use a family member as a guarantor? Why would you use them as a guarantor? How does the guarantee work? Watch this video and learn more about guarantors.

Does it matter about the size and location of the property

What are some of the things that can stop you from getting a loan when considering the size and location of a property? The best way to find out is to call us to make an appointment and we will give you the right advice to make your dream a reality.

Who are your recommended lenders?

Which lenders are suitable for you? A home loan with the lowest interest rate doesn't necessarily mean that it is the best choice for you. At Tassie Home Loans, we'll discuss the most suitable options for you.

What is the maximum loan amount?

The loan amount you may be eligible for is considered on a case by case basis. If you are seeking a commercial loan it could be up to $50,000 unsecured. Learn more about this by making an appointment with our commercial manager today!

Can a disability pensioner get a home loan?

Did you know that Disability Pensioners can get a home loan? How much you can borrow will be calculated based on your pensions. Call now and get more information from the experts.

Why does it take so long for a loan approval?

Loan approvals can take more time than you might expect. There are variables in obtaining a loan and there is also a process called a valuation which adds to the timeline. Visit Tassie Home Loans and let us explain all this and more!

Can we count family tax benefits received for your children?

Family Tax benefit received for your children may also be considered by some lenders. By contacting Tassie Home Loans we can arrange the most suitable lender for your needs.

What is an exit strategy?

If you are approaching retirement age, all lenders will seek a plan from you to show you will repay your loan once you have finished work. This is called an exit strategy. To find out more, contact us today.

What rules apply to property development lending?

There are many rules that apply to property development lending and this can be quite a minefield! There are some things to consider before starting this process. First, the ability to service the debt during the construction phase. Second, the possibility of requiring pre-sales of any finished product and third, the requirement to have equity throughout the project. Learn more about some of the other things not discussed here by giving our state commercial manager a call!

If I pay off my personal debt will it increase my borrowing capacity?

Clearing your personal debts before applying for a home loan will increase the loan amount that you may be able to borrow. Need to know more about this? Come and see us at Tassie Home Loans to get the advice that you need.

Can I borrow against the goodwill of a business?

In certain circumstances, yes, you can borrow against the goodwill of a business. Give our state commercial manager a call and learn what is required to substantiate the borrowing against the goodwill of a business.

Do I have to pay the stamp duty?

Question: Is there any way that I will not pay stamp duty? Stamp duty is the tax placed on legal documents usually in the transfer of assets or property. Paying stamp duty varies from state to state. To find out if you need to pay this contact us today.

Can I split my loan?

Can I split my loan? Yes! You definitely can. It is totally up to you how you want your loan structured. It can be part fixed and part variable. For further information, contact Tassie Home Loans today.

Should I get a fixed or variable rate?

Fixed or Variable Rate? It is totally up to you, your circumstances and your preferences. What's the difference? Contact Tassie Home Loans and learn more.

Why does my loan have to be approved by the lenders mortgage insurer and the bank?

I can borrow more that 80% of the property value to buy a home with lenders mortgage insurance? So, what IS lenders mortgage insurance? For further information on home loans, set an appointment with us.

What is lenders mortgage insurance?

Lender's Mortgage Insurance protects the bank from borrowers in case they default from the loan and the bank has to sell the property. Learn more about home loans and get the advice you need.

What is a comparison rate?

Comparison Rate is the actual rate over the full term of the loan after factoring in all costs. For further information, give us a call at Tassie Home Loans today.

Do I need to register an ABN to purchase a motor vehicle under asset finance?

In a business an ABN is needed to register purchase of a motor vehicle under Asset Finance, but if you're an individual, there's no need. Get access to lenders who will provide Asset Finance for both businesses and individuals at Tassie Commercial Loans.

Do I need a solicitor or should I do it myself?

To ensure you receive the correct title to a property you are purchasing, we strongly recommend you engage a solicitor or conveyancer. For more on property loans, call us!

What is my repayment?

Repayment is the act of paying back money which has been borrowed from a lender. For terms and interest rates, call Tassie Home Loans.

Will my rent count towards my loan application?

Rent does not normally count towards your deposit when assessing your loan application. But there may be an exception to the rule. Talk to us today.

Why doesn't the rent that I pay prove that I can make the repayments to a home loan?

Prove to your lender that you can make your repayments. Know the criteria for home loans and get the property you always dreamed of.

Can I pay off my loan early?

Can I pay my loan off early? Yes you can! The only time there could be repercussions is if you have a fixed rate loan? Getting complicated? Call us for some advice!

Do I have to note my partner if we live together?

Your partner is included in your application so that we'll know your true borrowing capacity. Want to know more about loans? Come and visit us at Tassie Home Loans.

What do you think interest rates will do?

Our job is to ensure we find the most appropriate loan for your needs. Get to know more about us and how we can help you.

How much can I borrow?

Gross income is a determining factor to acquiring a loan. The things that can affect this are loan repayments including car loans, credit cards and other payments. Have an assessment today. Come and see us at Tassie Home Loans.

How much of the deposit will I need?

How much deposit will I need? This is the question we are asked all the time. Watch our video to learn more about this. If you've got any more questions, call us at Tassie Home Loans today.

What's the best interest rate I can get?

The best interest rate we can give you depends on an individual's circumstances - the structure of the loan, amount of deposit, level of borrowing, and many other things. Sound confusing? Give us a call!

"Thanks for your patience with my many questions and for your expertise in sorting my home loan so efficiently. My finances have settled beautifully thanks to your efforts which have been seriously appreciated. I will be recommending Tassie Home Loans to all!"
- Tammie, Tassie Home Loans Customer