Brisbane Home Loans The Stanford Way
Our values lie in our sincerity, competence and the warmth we bring to formal financial processes. With a relationship-based approach, we’ll be excited to deliver the news that brings you closer to your dream home.
We believe in giving every Aussie a fair go, ensuring our services are finely tuned to resonate with your unique story and goals.
We are not just about initiating transactions; our vision embodies a partnership where you feel supported and empowered in making substantial financial decisions. Our commitment carries on through to post-settlement, where we relentlessly pursue the best deals for you, keeping you informed every step of the journey.
Getting a home loan in Brisbane, or anywhere in Australia, doesn’t have to be a stressful and confusing affair. Embrace a seamless home loan experience where your dreams are transformed into reality.
Frequently Asked Questions
How much can I borrow for a home loan?
The amount you can borrow for a home loan depends on several factors, including your income, expenses, existing debts, and credit history. At Stanford Financial, we evaluate your financial situation to determine the maximum loan amount you qualify for, ensuring it aligns with your repayment capability. You can get a rough estimate using our online home loan calculator or schedule a consultation with one of our loan advisors for a more precise assessment.
How much deposit do I need for a home loan?
The minimum deposit required for a home loan typically ranges from 5% to 20% of the property’s purchase price. The exact percentage can vary based on the loan product and your financial circumstances. A larger deposit might help you secure better interest rates and avoid the cost of Lenders Mortgage Insurance (LMI). We recommend discussing your deposit options with a Stanford Financial loan specialist to find the best solution for your needs.
What is the LVR of a home loan?
The Loan to Value Ratio (LVR) is a measure used by lenders to assess the risk of a home loan. It is calculated by dividing the loan amount by the value of the property being purchased, expressed as a percentage. For example, if you’re borrowing $300,000 to purchase a $400,000 property, your LVR would be 75%. A lower LVR generally represents lower risk for the lender and may result in more favourable loan conditions.
How to apply for a home loan?
Applying for a home loan with Stanford Financial is straightforward:
1. Kick-off Conversation: Your journey begins with a consultation with one of our experienced lending advisors.
2. Analytical Prep: A dedicated Credit Analyst gathers and prepares the necessary documentation.
3. Exploration of Options: Your Lending Advisor will then illuminate the path forward by presenting home loan options that are uniquely suited to your personal circumstances.
4. Drafting Your Application: With a clear direction, your Analyst prepares your loan application, ensuring every detail aligns with your goals.
5. Fine-tuning and Submission: We pay attention to the finer details, refining and finalizing your application before it’s submitted for approval.
6. Celebrating Approval: Once your loan is approved, it’s time to celebrate! Your Settlement Coordinator will reach out with the good news and guide you through the final steps.
Does HECS debt affect home loan?
Yes, your Higher Education Contribution Scheme (HECS) debt can affect your home loan application. While it is not considered as negatively as other types of debt, your HECS debt reduces your overall borrowing capacity as it is a financial commitment that must be repaid from your income. Lenders, including Stanford Financial, take your HECS debt into account when assessing your loan application, evaluating your income and repayment capacity. It’s important to disclose any HECS debt during the application process.
