FUNDI FINANCE: YOUR DEBT CONSOLIDATION SPECIALISTS

If you have been feeling overwhelmed by multiple debts and high-interest rates, we may have a solution for you. Fundi Finance isn't just your average mortgage broker. We're debt consolidation specialists. We can help you leverage your home equity to simplify your finances and save you money.

By bundling all of your pesky personal loans, credit cards and home loans all into one easy to manage repayment.

Here's what makes us different:

Expertise in both debt and home loans: We understand the complexities of both, allowing us to tailor a solution that addresses your overall financial picture.
Creative strategies: We go beyond just refinancing your mortgage. We explore options like cash-out refinancing, unlocking equity to consolidate high-interest debts into a single, lower-rate loan. You may be able to do a personal loan refinance by consolidating the loan into your debt consolidation home loan.
Personalized approach: We take the time to understand your unique situation and goals, creating a customized plan that fits your needs and budget.
Access to a wider range of lenders: We have relationships with various lenders, ensuring you get the most competitive rates and terms available.
Ongoing support: We're here for you every step of the way, from initial consultation to final loan approval and beyond.

Benefits of debt consolidation with Fundi Finance:

Lower interest rates: Combine high-interest debts into a single loan with a potentially lower rate, saving you money on monthly payments.
Simplified finances: Manage one payment instead of juggling multiple, making budgeting and tracking easier.
Reduced stress: Gain peace of mind knowing you're on track to financial freedom.
Potential for additional funds: Accessing home equity can free up cash for other financial goals like home improvements or unexpected expenses.

How much of a deposit will I need to have saved?

The amount of deposit you'll need for your mortgage depends on several factors, but as a general guide, aiming for a 20% deposit is ideal. This will unlock the best interest rates and avoid the cost of Lender's Mortgage Insurance (LMI). However, there are options available even with smaller deposits, so let's break it down: Minimum deposit requirements: Most lenders require a minimum deposit of 5% of the property purchase price. With a deposit less than 20%, you'll likely need LMI, which protects the lender if you default on your loan. This adds extra cost to your mortgage. Benefits of a larger deposit: Lower interest rates: The bigger your deposit, the smaller the loan amount, and typically, the lower the interest rate you'll qualify for. This can save you thousands of dollars over the life of your loan. Avoid LMI: With a 20% deposit or more, you generally avoid LMI, saving you money upfront and over the loan term. Alternative options with smaller deposits: First Home Guarantee Scheme (FHG): This government scheme allows eligible first home buyers to purchase a property with a deposit as low as 5% without LMI. Guarantor loans: With a guarantor who uses their equity as security, you might qualify for a lower deposit and potentially avoid LMI. Lenders Mortgage Insurance (LMI): While it adds cost, LMI can help you purchase a property with a deposit as low as 5%.
I love where I live, can I keep renting and buy an investment property as my first home?

Yes! This is a common strategy seen these days for those people living the city life but unable to afford to buy a property where they are living. You could continue renting in an area that you love while purchasing a property in an area you can afford and rent that property out.
Do I need a pre approval before buying a property?

Short answer is No. Although a pre approval can be a valuable tool for providing confidence that a lender has agreed to lend you the money you are after, it is not essential. If you are in a good position, spoken with a broker and they are confident you could get what you are after you could potentially look to purchase without one. I would always recommend that you include a finance clause in your offer to protect you and to allow you enough time to gain finance approval.
I've been banking with my bank forever, will they look after me?

No - they look at everyone as if its the first time they have met them. This is something I see very often. People who have been banking with a certain bank for years believe because of this they will get special treatment with that bank. Unfortunately that is not how it works, almost all of the banks have separate loan departments which look at your situation as if they have never met you before. They go through the whole application process and calculate your borrowing power based on your income, expenses and individual situation.
Is it hard to buy your first home?

Like anything you do for the first time, buying your first home can be very daunting. There is always going to be parts of the journey that are stressful and hard, but If you surround yourself with the right team, they can help take the stress out of the whole process and make it as easy as possible for you. If you would like some help, a mortgage broker can be your most valuable tool to help you put a plan in place to buy your first home.
Do I need to save a 20% Deposit?

We've all heard the ramblings of "you need a 20% deposit to even start looking for a property" This is a common misconception. There are so many different options available now to purchase your first home with a small deposit and in some cases even no deposit. If you'd like to talk with a mortgage broker on if you'd be able to get a home loan please reach out
Where do I start?

This home buying guide is a great place to start, If you have read through this it tells me that you are serious about getting into a place of your own. For your next step, I would recommend booking in to talk with your local mortgage broker. They will be able to tell you where your borrowing power is at the moment and run you through what options you have available to you. We would love to help you put a plan in place - Contact us
How do I buy a house with no deposit?

While this option is not available to everyone, there is a way to purchase a property with no deposit saved. If you have parents that own a property and have equity available (they could still have a home loan) and are willing to let you use that property as collateral to purchase your property. You can then secure 20% of your new properties value + other fees and charges against your parents property while securing the other 80% against the new property that you are looking to purchase. There are risks for all parties involved in this scenario. If you would like more information if a guarantor loan would be suitable for you, please reach out to your local mortgage broker.