NSW Mortgage Corp Blog

Author: Diane Challis

Australian mortgages and refinance
Mortgage

Refinance vs second mortgage: Which one is good for you?

When shopping for a mortgage lender, it is important to know which loan product would best fit your borrowing needs. Here are tips to help you weigh refinance vs second mortgage and how your choice can make a difference in your finances.

Why Use Personal Loans For Home Improvement
Personal Loans

Why Use Personal Loans For Home Improvement

Here are the top reasons why you should consider a personal loan next time you need to borrow money for home renovations or other minor expenses. We will also tell you how to make smart choices when taking out a substitute for home refinancing.

4 Reasons to Get a Home Loan with Bad Credit
Mortgage

4 Reasons to Get a Home Loan with Bad Credit

The fear of paying very high interests is one of the reasons borrowers dodge the idea of getting a home loan. Those who have gone through a foreclosure or bankruptcy are one of those people who think that a tanked credit will make them pay more than a borrower who has a stellar credit, but that’s not really true.

How Refinance Can Save A Homeowner’s Money
Financial Tips

How Refinance Can Save A Homeowner’s Money

Refinancing makes financial sense, as the new loan may result in at least a 1 per cent decrease in your interest rate. If you are currently paying a mortgage with an 8 per cent interest rate, and you found a new mortgage with an interest rate of 6 per cent, you’ll be saving 2 per cent!

signs of predatory lending
Credit Score

Signs of Predatory Bad Credit Loans

Would you pay extra fees for an expensive loan that does not offer you any financial benefit? That’s how predatory bad credit loans work. They will deceive you into signing loans with hidden costs and terms that may cost you more than what you can afford to pay which could lead to foreclosure.

How To Satisfy Credit Judgements Without Going Bankrupt
Financial Tips

How To Satisfy Credit Judgements Without Going Bankrupt

A second mortgage can also help you fill the gap especially when you’re in serious debt. Talk to our helpful mortgage advisers to answer your queries and give advice about your current finances and how you can pay for your obligations as judgements debtor.

second mortgage bankruptcy
Financial Tips

Second Mortgage: Alternative to Bankruptcy

When you are faced with multiple debts and you no longer have enough money to pay for them all, and creditors, as well as credit collectors, are knocking at your doorstep, use your house as a shield.

Facts About Personal Loans That Home Owners Should Know
Loans

Facts About Personal Loans That Home Owners Should Know

Make sure that you set aside three months’ worth of repayment to ensure that you won’t have to borrow money. It will also keep you from resorting to drastic measures such as acquiring high-interest loans, maxing out your credit cards or line of credit and selling some of your assets just to save your home from foreclosure.

more than one mortgage
Loans

How Many Home Loans Can You Afford?

Your home is probably the biggest purchase you have to make in your lifetime. It would be impractical to do it if you don’t have a repayment strategy in mind. By using home loans to buy a house, you are preparing yourself for years of making cumulative payments on the mortgage that has the potential of increasing twofold due to its interest.

Should I Refinance My Home Before Retirement?
Financial Tips

Should I Refinance My Home Before Retirement?

Everyone is an artist and therefore, all of us have the inner creativity to adjust and create a financial management strategy which is convenient for us. Thus, there is no need to be worried about how we can handle our finances—we got the capability to accomplish whatever we put our mind into. And, finance is also a science.

Take Control of your Finances with Consolidation Loans
Loans

Take Control of your Finances with Consolidation Loans

If you want to repay your debts consolidate your loans, you only need to apply for a single loan for a huge amount to pay off several smaller loans. This makes you liable only to one creditor. You may avail of lower interest rates than what you were paying before, or you could opt for a longer repayment term to reduce the amount you need to pay each month.

4 Overlooked Reasons For Defaults
Mortgage

4 Overlooked Reasons For Defaults

Credit card debts, consumer debts and payday loans cost more than second mortgage or home equity loans. If you keep on relying on high-interest credits, and you missed payments several times—then you may want to consider getting a second mortgage. You can consolidate all your debts and take care of only one loan at a time.

4 Signs That You Can Keep Your Debt Agreements
Financial Tips

4 Signs That You Can Keep Your Debt Agreements

A lot of people have been in denial for so long-until their potential lender’s file charges against them because they cannot keep their end of the debt agreement anymore. Own up to your mistake and don’t try to put the blame on anyone when you mess up.

Why High-Risk Borrowers Need To Apply For Mortgages
Mortgage

Why High-Risk Borrowers Need To Apply For Mortgages

Yes, being high-risk borrowers could mean higher interest rates, but it doesn’t mean that you’ll be in deeper trouble if you get a reasonable loan. It’s just a matter of learning the proper borrowing-and-repayment strategy.

Being married means having to communicate a lot. Are you planning to get short-term loans? If so, talk over how you will use it so that the interest and relevant fees are worth the cost. If you have obtained a short-term loan to spend on your wedding or on the honeymoon, how do you plan to repay it without putting too much pressure on your finances?
Short term loans

Tips for Newlyweds Applying For Short Term Loans

Being married means having to communicate a lot. Are you planning to get short-term loans? If so, talk over how you will use it so that the interest and relevant fees are worth the cost. If you have obtained a short-term loan to spend on your wedding or on the honeymoon, how do you plan to repay it without putting too much pressure on your finances?

To qualify for a first time home loan, lenders would want to know your monthly income. Whether or not it is sufficient to meet your monthly mortgage plus other debt obligations will determine the amount you will qualify for.
Mortgage

Checklist Before Applying For First Time Home Loan

To qualify for a first time home loan, lenders would want to know your monthly income. Whether or not it is sufficient to meet your monthly mortgage plus other debt obligations will determine the amount you will qualify for.

Options If You Don’t Qualify For First Home Buyers Grant NSW
Loans

Options if You Don’t Qualify for First Home Buyers Grant NSW

Ask your local bank, of they offer home loans for people with credit problems. In fact, they may have specific promos for long-time account holders who meet their eligibility criteria. But, if they are only interested in people with high credit ratings, you may not get a positive response if your credit rating is low.

First Home Super Saver NSW
Financial Tips

How to Apply for First Home Super Saver NSW (FHSS)

If you’re a home buyer for the first time, you may qualify for first home super saver NSW. It is government assistance amounting to $15,000 grant for new homes as long as the purchase price does not exceed $650,000.

Understanding Short Term Loans Rejection
Short term loans

Understanding Short Term Loans Rejection

Most of the lenders have their own criterion and preferences. Perhaps a particular short term loan company is offering loans to people who are nearing their retirement age, while others simply want their borrowers to be in the working class-or those between 21 to 65 years old.

Get The Help You Need With Bad Credit Loans
Credit Score

How To Get the Help You Need with Bad Credit Loans

Does your current bank offer loans even for people with bad credit? Talking to your bank’s loans officers can help you access loans offered to loyal customers who have been with the bank for many years.

Dangers Of Putting Off Loan Repayments
Loans

Dangers of Putting Off Loan Repayments

Oftentimes, people get into debt troubles because they postpone making payments until the night before they are declared in default. Had they paid the loan sooner, they might enjoy 0% interests, or avoid penalties and extra charges. Plus their credit scores would have rated well.

Blueprint for your Personal Loans
Personal Loans

Do You Have A Blueprint for your Personal Loans?

If we are committed to reaching our financial goals, despite the struggles that we face on a daily basis, we won’t mind the discipline it entails to keep us moving forward. Sure, many entrepreneurs have their mindset on small and big things and most of them reach their goals without making major lifestyle changes.

Underwriter Rejects Your Personal Loans
Loans

Top Reasons Why An Underwriter Rejects Your Personal Loans

You’ve applied for numerous personal loans but for some reasons, all of them have been rejected. Few things can be more painful than being rejected on a regular basis. You start to think that underwriters have a personal problem with you.

The 5 Basic Steps to Getting Business Loans
Business Loans

The 5 Basic Steps to Getting Business Loans

Since you’re reading this, you’re probably already familiar with the perks of a business loan, but unable to figure out how to get one. Yes, it can be a little bit nerve-wracking, but it’s certainly doable. Follow this step-by-step guide and you’ll be on the safe side.

The Pros and Cons of Personal Loans
Financial Tips

The Pros and Cons of Personal Loans

We will take a look at many types of personal loans, advantages, and disadvantages. With this article, we will try to inform all consumers about how to pick and use these types of personal loans.

How Do You Qualify for Low Doc Loans?
Business Loans

How Do You Qualify for Low Doc Loans?

Lenders have distinct specifications and interest rates, you could find it difficult to choose the right loan. That’s why today, we will talk about how to qualify for low doc loans. We’ll also answer other equally important questions.

Frequently Asked Questions For Debt Consolidation Loans
Debt Consolidation

Frequently Asked Questions For Debt Consolidation Loans

Debt consolidation is pretty much like every other loan – only that you use it to pay the debts that you already have. For instance, if you have three loans, you can use this loan to pay off the other three, so that you will no longer be juggling three different loans.

Top 5 Reasons You Should Stay Away from No Credit Check Loans
Financial Tips

Top 5 Reasons You Should Stay Away from No Credit Check Loans

Although no credit check loans sound like the solution to your problems, you should take a close look at the aspects presented above. One thing is for sure: no credit check loans are easy to obtain, no one checks your credit rating, and you can get hold of cash in less than a day.

Top Mortgage Refinance Mistakes to Avoid
Financial Tips

Top Mortgage Refinance Mistakes to Avoid

Mortgage refinance is a strategy, and must not be taken lightly. Why do you want to refinance your home? It is important to list all your reasons before you take the plunge. If you want to lower your payment, then think about ways on how you can lower it.

Hidden Downside of Second Mortgages
Financial Tips

Hidden Downside of Second Mortgages

A second mortgage is also tax-deductible.  It has a simple and fast loan approval-which can be as fast as 24 hours or less. If you want to find some extra cash, get a second mortgage to tap into your home’s value. The amount of loan depends on the amount of ownership or “equity” you built up on your property over the years.

Debt Management 101: What Is Bad Credit?
Credit Score

Debt Management 101: What is Bad Credit?

Your bad credit affects multiple areas in your life–your ability to borrow money, to get a job, and to apply for utilities.  It’s because your credit history is the measure of your creditworthiness or your ability and willingness to repay your debts.

Benefits of a Second Mortgage for Single Parents
Financial Tips

Benefits of a Second Mortgage for Single Parents

Keeping your finances under control doesn’t mean denying your children a comfortable life. It is just a matter of budgeting and sticking to it.  The benefits of second mortgage is truly undeniable, it gets you out of a financial mess and helps you put your finances in order.

Is Debt Consolidation Worth It if You Don't Have Bad Credit?
Credit Score

Is Debt Consolidation Worth It if You Don’t Have Bad Credit?

Is it worth it? Worth means something of value. How valuable is debt consolidation in your attempt to pay for your needs, if you don’t have bad credit? As a borrower, you have personal circumstances that would determine if such loan product is worth the interest rate and the charges that go along with it.

Downside of Refinancing: What Lenders Don’t Tell You
Financial Tips

Downside of Refinancing: What Lenders Don’t Tell You

Refinancing can help you consolidate your debts, save on interests, invest into something that would bring good profits and pay for anything that you need. That’s exactly what every borrower struggling with multiple debts and bad credit look for, right? Well, perhaps it is but without a plan, that alone won’t save your finances from going downhill.

Why Turn To Bad Credit Loans
Credit Score

Why Turn To Bad Credit Loans When Debt Collectors Are Harassing You?

You have a bad credit when you failed to keep up with your payments on your past and existing debts and your application for new credit is not approved. Even if you have no outstanding financial obligation because you paid them all, you can still have bad credit if you paid past the due date.

Second Mortgages Tips: How to Get Out Of the Credit Card Debt Rut
Loans

How to Get Out Of the Credit Card Debt Rut

If you want to get out of credit card debt, second mortgages can be your best option. Sometimes credit cards can put you in a financial situation that makes you miserable more often than it makes you financially secure.

Survive and Overcome Bad Credit
Credit Score

How to Survive and Overcome Bad Credit

Getting over a bad credit may take time, determination, and discipline. That’s why a debt consolidation strategy can help you come to terms with yourself and with your creditors. You can financially and emotionally heal from a bad financial mistake.

Top Credit Card Mistakes to Avoid
Credit Cards

Top Credit Card Mistakes to Avoid

A credit card has many advantages and while it may seem like a piece of plastic that holds your money, appearances can be deceiving and can cost you in the long run.

The Risks of Getting a Second Mortgage
Credit Score

The Risks of Getting a Second Mortgage

In this article, we will discuss the risks of getting a second mortgage. We will present some examples from which you may learn a thing or two and decide whether it is beneficial to get a second mortgage or not.

Refinancing: When Should You Do It?
Mortgage

Refinancing: When Should You Do It?

When you choose to refinance, you will take a new loan, and you will use it to pay the existing one. Sometimes, you will have a new lender, but you can also do this with the one you are using already.

How Do You Lose Home Equity
Loans

How Do You Lose Home Equity?

Life can be tough, especially when we’re talking about money. Even so, you can’t mess around with home equity. If you know how it works, it can benefit you. This article is a brief guide on this subject.

Save Money by Refinancing Your Personal Loans
Loans

Save Money by Refinancing Your Personal Loans

Refinancing a personal loan works pretty much by the same principle of a home loan refinancing. You take out a loan that covers the sum you still have to pay for your loan and use this second one to pay it off.

ypes of Debt Consolidation Loans
Debt Consolidation

The Various Types of Debt Consolidation Loans

Even though debt consolidation loans might seem like a good option, you should know that going down this path doesn’t mean you’ll get rid of your debt overnight. What you’ll do is rearrange it a bit, so that it becomes slightly more affordable and easy to pay.

Key Issues To Consider When Choosing A Loan Online With Bad Credit
Credit Score

Key Issues To Consider When Choosing A Loan Online With Bad Credit

Loan options are limited for people with bad credit. But, there are good loan options out there – you just have to compare their terms wisely. Even with bad credit, you can find an affordable loan product to pay for your current and expected expenses, build your emergency fund and retirement nest egg and allow you to engage in business or invest in sound financial vehicles.

How To Use A Low Credit Loan
News

How To Use A Low Credit Loan To Your Advantage

It is one thing to borrow money and another to stay on top of your credit. To do that, you have to understand every important detail about the low credit loan you’re taking, the terms of the loan, repayment period, fees and other charges.

3 Things To Do When Getting Consolidation Loans
Debt Consolidation

3 Things To Do When Getting Consolidation Loans

Choosing the right debt consolidation loan is an important part of the financial planning equation. NSW Mortgage Corp offers second mortgage and consolidation loan options for people with bad credit.

Things Equally Important As Consolidation Loan Rates
Debt Consolidation

Things Equally Important As Consolidation Loan Rates

A consolidation loan can help you keep up with your payment. Having fewer bills to pay also means lesser chances of missing payments, lower interests to pay and greater chances of paying the loan faster.

The Risks And Benefits Of Applying For A Second Mortgage
Mortgage

The Risks and Benefits of Applying for a Second Mortgage

It is always advised to do plenty of research before applying for a loan. It’s important to understand all the responsibilities it comes with. A second mortgage comes indeed with certain risks, but it does have several benefits as well.