Mortgage eagle

taking the long view to financial security through real estate

  • Are you wanting to buy or refinance? Wheather you are new to the property market or have purchased before, it always pays to see a Mortgage Broker. A Mortgage Broker can not touch your loan unless it is to put you in a better position, and so it's always smart to ask.
  • Do you want to know how much deposit you need? If you're looking to buy and are unsure of how much you need, please make contact with us. Here at Mortgages Made Simple we'll do the math for you, break it down into a chart and send you an email so you have it on file.
  • You want the best rate and want to save thousands on your mortgage each year? The difference between 3.7% and 4.2% over a $500,000 loan is $2500 per year. That's money that you're better off spending on your holiday.
  • You want to know how much you can borrow Want to know how much you could borrowe based on your income. Here at Mortgages Made Simple we'll do the math for you and explain it in simple terms.

Request a 3.69% owner occ rate estimate now!

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maximum borrow capacity?

Are you interested to know how much you can borrow based on your income, asset and liabilty position?

99.9% home loans?

Looking for a no deposit home loan? We'll explain what a 97% and 99.9% home loan is and why these are great to break into the property market.

Family Pledge home loans

No deposit? Ask us about a family pledge. While most parents who are asked to pledge will say "no", they say "no" because they do not undersatnding what a family pledge is and how they are safe-guarded.

the 3 rules to a mortgage

There's only three rules to any home loan, and we're happy to share... They are... 1. Upfront Cost, 2. repayment and 3. Bank Policy. Want to know more about how mortgage policy will effect you? Just request a call back and will call you same day.

love your 3.69% Loan

Does 3.69% sound like a great rate to you? Has the Honeymoon on your current home loan worn off. If you're no longer is love with your home loan rate, then request a call back now and we'll come back to you same day.

Great support

We'll walk you through the process from begining to end. Our job isn't done until you say so.

 

our lender panel

While the banks can only ever offer you their best product and mortgage interest rate, here at Mortgages Eagle we can offer you the best from 30 lenders, including the big 4, non conforming lenders, low doc lenders, alt doc lenders, 97% lenders and industry specific lenders.

We save over $1900 ever year on our mortgage.

Thank you, Mortgage Eagle

Mortgage Eagle makes getting a mortgage super easy!


FAQ

Get the answers
Q

What is a / my maximum borrow capacity and why will it change from lender to lender?

What is a Maximum Borrow Capacity, and why will it change from lender to lender?

The 'Maximum Borrow Capacity' the maximum a lender will lend you based on your income/s and out-goings. This does not take into consideration your LVR, property value or deposit, but simply, how much a lender will loan you.

Will my Maximum Borrow Capacity tell me what I can buy for?

While normally a maximun borrow capacity will not tell you what you can buy for, here at Mortages Made Simple we'll go one step further and calculate your funds to complete chart. With your Funds to Complete Chart and your Maximum Borrowing Capacity, we will show you what you can buy for. 

What is "Funds to Complete" chart?

Funds to complete refers to the amount of funds needed to complete a transaction, and in the case of a simple mortgage, it takes into consideration your stamp duty, conveyencing fee, Lenders Mortgage Insurance (LMI) and all other free associated with the transaction to show you if you have enough up front to make the transaction, or if you will have a short-fall in funds.

The Three Simple Rules to Every Mortgage

While other mortgage brokers might make it sound more complicated than it is, there's only three simply rules to getting a mortgage. Those rules are 1. Borrow Capacity. Do you make enough to repay the repayments? 2. Funds to Complete. Do you have enough upfront deposit (funds) to complete the transaction, and will that send you into LMI, and 3. Lender Policy. Now, as a mortgage broker it's our job to read, understand and translate lender policy, and it's because of lender policy that not every lender will lend to the same maximun borrow capacity. 

What is Lenders Mortgage Insurance

Lenders Mortgage Insurance, or LMI, is an insurance you pay when your LVR exceeds 80%. The LMI value is based on how much you exceed the 80% by, and what value you are borrowing, but is a one-off cost devided againt your repayments. So, while you might be paying 18,000 in LMI over thr course of your loan, that;s just 18,000 in a sea of $800,000, and that probably will only increas your repayments by a few dollars every week. 

Is LMI a good thing? The fact that LMI is available to all is a great thing. LMI enables people who would otherwise have no chance, an oppurtunioty to for-go saving 20% depostit, and means they might needs as little as 3% plus costs. While you wouldn't want to pay LMI if you can avoid it, without LMI you will need to save 20% of the property value plus costs.

 

Q

Am I able to borrow up to 99.9% of the value of the property?

97% to 99.9% Home Loans

That's right. Here at Mortgages Eagle, we can organise to lend you 97% of the value of the property, which means you'll need to save 3% plus stamp duty, registraion and conveyencing. For the exact numbers as they apply to your situtaion, please make contact with us and we'll go through the math with you.

Great Rate and a 97% Lend

Maybe you were thinking "Only a small bank, or a bank that helps people with bad credit would lend 97% of a property value". The fact is, more than three lenders in Australia will 97%+, and none of them are small or non-conforming lenders. So what rate will they give you? At the time this page was (re)published, the rate on a 97% Owner Occupied loan of $500,000 was 3.88%.

 

Q

Why are investment rates higher now?

Investment Property Lending

Due to offshore investors buying up Australian properties faster than Australians can buy their own homes, the investment rate has been raise to curb that offshore investment trend. This means offshore and Australians alike, are goin to pay slightly more on their investment interst rate than they will their owner occupied interst rate. 

But that doesn't seem fair... 

If the idea was to curb forign investors, than why should this raised interst rate also affect hard working Australian investors? Well, the simple answer is... some lenders allow for a investment property to be cross colatorised with their owner occupid property, so they both achive the better owner ocupied rate. This can be done provide the value if 50% or more in the owner occupid property. By doing this, if foregn investors want to buy Australian investment propertis, they will be paying more than Australians who have already bought their own home.

 

Q

What is LVR (Loan to Value Ration) and how does that affect me?

What is LVR? (Loan to Value Ratio)

Our best current owner occupied mortgage rate is 3.69%. This mortgage investment rates applies to those planning to live in their purchase or refinance property, and must have a LVR of Less than 80%.* LVR, or Loan To Value Ratio, is the percentage of the Loan Vs the percentage of the property value. Here at Mortgages Eagle we can calculate your LVR and tell you if you qualify for the best Owner Occupied rate in Australia.

Wheather your buying or refinancing a property, our simple Mortgage Made Simple loan could save you thousands per year.

What's the LVR formula?

The LVR formula is a simple one. It's the amount your want to borrow devided by the value of the property. Eg. Michael wants to borrow $80 to buy a bike worth $100. The formula is 80 / 100. That equals 0.8. That's 80%.

What is Lenders Mortgage Insurance

Lenders Mortgage Insurance, or LMI, is an insurance you pay when your LVR exceeds 80%. The LMI value is based on how much you exceed the 80% by, and what value you are borrowing, but is a one-off cost devided againt your repayments. So, while you might be paying 18,000 in LMI over thr course of your loan, that;s just 18,000 in a sea of $800,000, and that probably will only increas your repayments by a few dollars every week. 

Is LMI a good thing? The fact that LMI is available to all is a great thing. LMI enables people who would otherwise have no chance, an oppurtunioty to for-go saving 20% depostit, and means they might needs as little as 3% plus costs. While you wouldn't want to pay LMI if you can avoid it, without LMI you will need to save 20% of the property value plus costs.

 

Q

I have a question that isn't listed. Can we talk on the phone so I can discuss?

Yes, please do contact us

Here at Mortgages Made Simple we'll do one more thing that no other Mortgage Broker will ever do. If it's in your best interest, we'll put you in contact with another Specialist Mortgage Broker. That's right, where a normal Mortgage Broker would never give away a customer; if we know that you are better off in the hands of one of our collegues, we'll refer you on. That means you've got nothing to lose. We specialise in making mortgages look super simple, but take a wholistic and customer-centric approch to our customers. That means if you have a question or are unsure, then just let us know and we'll call you to discuss.

It's free to you! 

Here at Mortages Made Simple we'll never charge you a dollar. We're paid by the banks, and so our services are 100% free to you. That means you'll get the best rate for your circumstances and we'll never charge you a dollar for it. 

We're 24/7, we're online and we're convenient. Request a call back now

 

There's only one reaon to contact us

While other brokers try and make the industry sound harder than it is, the best reason to use us is because we make this all look very simple. We'll explain everthing in simple terms and hold your hand through the process.

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