Mortgage debt consolidation is a type of debt consolidation that involves combining high-interest debt, such as credit card debt or personal loans, into a new mortgage with a lower interest rate. This can be done through a cash-out refinance, where the homeowner refinances their existing mortgage for more than they owe and uses the extra […]
Author: outlookfinance
Mortgage terms in Australia
Here are some standard mortgage terms you may come across when applying for a home loan in Australia: Understanding these and other standard mortgage terms in Australia can help you make informed decisions when applying for a home loan and ensure you get the right loan.
How often to refinance
There is no set rule for how often you should refinance your mortgage. The decision to refinance should be based on your personal financial goals and circumstances. Here are some factors to consider when deciding whether to refinance your mortgage: In general, it may be worth considering refinancing if you can lower your interest rate […]
Mortgage refinance process
The mortgage refinance process generally involves the following steps: Lower your monthly payment, reduce the total amount of interest you pay over the life of the loan, and access cash to make home improvements. Or pay off debt. The mortgage refinance process can take several weeks, depending on the lender and your situation. It’s essential […]
Positive cash flow property
A positive cash flow property is a real estate investment that generates more income than expenses, resulting in a net positive cash flow. In other words, the rental income from the property exceeds the monthly mortgage payments, property taxes, insurance, maintenance expenses, and other costs associated with owning the property. Positive cash flow properties are […]
What is negative gearing
Negative gearing is a financial strategy where an individual borrows money to invest in an asset (such as property, shares, or a business) with the expectation that the income generated from the asset will not cover the costs associated with owning and maintaining it. The resulting loss can be claimed as a tax deduction, reducing […]