Today, we’re delving into the intricate world of mortgage payments, shining a spotlight on the foundational elements: principal and interest. When you secure a home loan, the principal represents the amount borrowed to fund your property purchase. Calculating your mortgage principal is straightforward—subtract your down payment from the final selling price of your home. This
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The recent change in government in New Zealand, with the National party taking the reins, has raised several questions and concerns about its potential effects on the housing market. This transition has sparked curiosity and a degree of uncertainty in the real estate industry. In this blog post, we’ll explore the implications of this political
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Are you on the journey to securing your dream home? Navigating the world of mortgages can sometimes feel like deciphering a secret code. From APR to LTV, there’s a plethora of acronyms and terminology that can leave your head spinning. Fear not, though! In this blog post, we’ll break down the complex world of mortgage
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When contemplating the realm of refinancing, a significant query often surfaces: Is it a prudent decision to shift to a different bank in order to access a more appealing interest rate? In this article, we delve into the aspects that demand contemplation when pondering a transition to an alternate financial institution with the aim of
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For those dreaming of becoming homeowners, the journey has been quite a challenge lately. The ever-increasing property prices and strict lending criteria have made homeownership in New Zealand seem out of reach for many. However, there’s good news on the horizon as the lending landscape is undergoing some significant changes. Let’s take a look at
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The perception that winter is not the most favourable time to sell a home is a common misconception that needs debunking. Throughout this article, we will delve into the advantages of selling properties during the winter months, shedding light on the opportunities that this season presents for homeowners. Embracing the resurgence of first home buyers
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We’ve got some fantastic news to share – first home buyers are making a strong comeback in the real estate market! After facing challenges in recent times, they’re now taking bold steps towards achieving their homeownership dreams. In this article, we’ll explore the factors driving this resurgence and offer insights into why this is an
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So, the housing market in New Zealand has had its ups and downs, right? Recently, we’ve seen prices drop due to interest rates going up and the rising cost of living. But it looks like things might be turning around sooner than we thought! If you’re holding off on buying a property, you might want
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Inflation and rising interest rates can have a significant impact on the financial landscape, particularly in the context of mortgages. As economies run hot, it’s not uncommon to witness an uptick in inflation and subsequently higher interest rates. If you’re a homeowner currently facing such a situation, it’s crucial to understand the potential benefits of
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When it comes to applying for a mortgage, one of the essential documents lenders require is your bank statements. Bank statements serve as a snapshot of your financial health as they provide lenders with insights into your income, expenses, savings, and overall financial habits. These statements help lenders determine your ability to repay the mortgage
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What are the benefits of a 20 percent deposit? It may be “the word on the street that you can purchase your first home with 10% deposit“, but what is really required? If you can walk into a property with 20% deposit, a whole new world opens up for us. There are better rates available,
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Navigating the property market for first home buyers in New Zealand can be challenging. This guide aims to provide you with a comprehensive understanding of the mortgage process, from determining your eligibility to understanding the various loan options available. By following these steps, you’ll be better equipped to secure your dream home in New Zealand.
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Mortgage refinance in New Zealand is a simple process, however it requires homeowners to thoroughly understand the costs and potential benefits associated with it. This article provides an overview of mortgage refinancing, discusses why it may be a good idea, and describes some of the fees involved. What Is Mortgage Refinancing in New Zealand? To
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Property investment in New Zealand can be an excellent long-term wealth building strategy, but one must make appropriate risk-management decisions along the way. A significant percentage of NZ investment properties are owned by large investment groups with more than 6 properties. However, with the right mortgage options, a healthy deposit, and a bit of help,
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