mortgage-broker-residential

Residential Loans

So you have had a residential loan with your bank for 20 years and you are sure they have been giving you the best residential mortgage deal possible? The right home loan with low fees and the best loan advice?

Stop the guessing game and save yourself time by allowing us at Quantum Financial Advisers to advise you about the best residential loans in the market. In our experience financial institutions don’t usually tell you what their competition is doing, they can only tell you what residential mortgage loan products they are offering. Quantum Financial Advisers are professional mortgage advisers and it’s our job to find you the right residential home loan that best suits your mortgage requirements.

If you would like more information on buying a home or an investment property or you are interested in a review of your current residential mortgage situation, please complete the enquiry form and one of our specialist residential loan advisers will contact you today.

Let us help you achieve your dream!

Maybe this is your fist time in the home loan market and there are so many choices with no one to help you narrow them down, that’s why you should call Quantum Financial Advisers and ask us:

  • What home loan structure is best for me?
  • Which residential loan provider should I use? All residential finance lenders seem good?
  • Do we fix our residential home loan rate or leave it floating?
  • What about interest only home loans?

The first time around looking at residential mortgages can be very confusing and finding a home loan is something you definitely should not rush into. At Quantum Financial Advisers we are professional residential mortgage advisers. It’s our job at Quantum Financial Advisers to understand the residential home loan market and inform you about the above questions and more about residential home loans that you should consider.

To read more information about the topics below, click on the heading to expand.

Low Deposit Home Loans / First Home Buyers

Have you dreamed of owning your very own piece of New Zealand but never thought it was financially possible because of the home loan deposit you need?

Not too long ago this may have been the case as most finance institutions would have required you to save at least 20% deposit, plus other associated costs, to qualify for a home loan and own your own home dream.

In today’s financial home loan climate, raising 20% of the purchase price as a deposit for a house can be a very difficult proposition for many people. Thankfully most of the major banks now lend up to 90% of the purchase price of a residential property and maybe higher with a guarantor, although conditions would apply.

We also have non bank lenders that will consider applications with as little as a 5% deposit.

Kiwisaver

You may be able to withdraw most of your KiwiSaver to finance a deposit on your first home purchase. There are special financial circumstances that allow second chance home owners to also withdraw their KiwiSaver.

You may also be eligible for a HomeStart Grant.

Check it out at www.hnzc.co.nz

Mop Up Finance

How good does it feel when everything is going right for you financially? When your house is perfect with a white picket fence, the kids are doing great at school and the boat you just bought is running well?

Fantastic!

But what if you become sick, lose your job, or you are unable to work. Sometimes life events such as a costly divorce can distract your attention away from your business and can affect your ability to make your mortgage repayments?

Then sometimes the white picket fence might not get painted for 10 years and the kids are not too happy about getting dropped off at school in the car you have had to down grade to because you had to file for bankruptcy!

That’s ok, because in 9 out of 10 cases we can help! Let Quantum Financial Advisers help you find a financial solution, such as mop up finance.

We have access to a number of financial lenders who understand that life has its ups and downs and sometimes people just need a little financial help to get back on track. If you think you might be in need of this financial service, please call our professional team at Quantum Financial Advisers, we are here to help with all your home loan requirements.

Low Doc Loans

Being self-employed has many benefits but traditionally borrowing money can prove to be difficult. This is sometimes due to a lack of financial information or low net profit.

Generally financial institutions like to see the last three years of a self-employed applicant’s financial history. Most financial institutions approve loans based on a number of financial criteria, one of them is your ability to repay lending by looking at the net profit of your business after expenses. Financial lenders tend to average your income out over a three year period. You know you can afford it, but the banks may say no when it comes to lending you money. Let Quantum Financial Advisers help you!

Low documentation financial loans have been in the finance market place for some time now. There are not too many differences between a fully documented loan, where you provide your company tax returns and other supporting information, and a low documentation loan. The main differences are based on how much you can borrow, the size of the loan, the loan to value ratio and current finance interest rates.

So what is a low doc loan?

  • A low doc loan is exactly that, it’s low on the documentation you need to provide!
  • You don’t need to provide tax returns and financial statements
  • You don’t need to prove rental income when buying a rental property
  • If you are borrowing 60% or more, then the above applies but you will also be required with most of the major banks to provide three months’ worth of business bank statements, so the finance lender can better understand the cash flow of your business account
  • If you are borrowing more than 60% of the value of the property, a lenders mortgage insurance fee may apply that is charged by the financial lending institution (the same charge is applied to full documentation loans when borrowing more than 80%)

Would I qualify?

  • Have you been self-employed for at least 2 years or less in some circumstances? See (Non-Conforming loan)
  • Do you have a clear credit rating?
  • Have you kept up with your current mortgage repayments if you are refinancing?

If you have answered yes to the majority of the above questions then it is likely that you would qualify. Contact Quantum Financial Advisers today for more information.

Non-Conforming Loans

Generally financial institutions like to see the last 3 years of a self-employed applicant’s financial reports and for those who are employed, finance lenders like to see employment consistency. Finance lenders approve loans based on a number of criteria and one of them is your ability to repay a loan by looking at your business net profit after expenses, or by looking at payslips. Finance lenders tend to average your income out over a three year period.

Finance lenders criteria don’t always suit everyone, for example if you have only just started a business within the last 12 months, or you’ve only been in a job for a short amount of time. You may have current financial reports but you have had a couple of trade disputes which has resulted in a default or a judgement on your credit rating. Or your credit risk is ok, you have financials and you need to consolidate debt, but because you have fallen behind in repayments the banks just don’t want to know?

If you have a property asset to borrow money against and a fairly good understanding of your potential earnings for the next 12 months, then a non-conforming loan maybe the financial solution for you.

So what is a Non-Conforming loan?

  • A non-conforming loan means it does not quite conform to traditional bank finance criteria
  • You may not need to provide tax returns and financial statements to qualify
  • You may not need to provide evidence of rental income if you are buying a rental property
  • You may only need to sign a statutory declaration stating that you are aware of the loan repayments, how much you earn and that you can afford the loan
  • You may be able to qualify whether you are self-employed or employed
  • You may have only been in business for a short time
  • Your credit history may not be the best

At Quantum Financial Advisers we are professional loan advisers. It is our job to understand the financial market and inform our clients on all the finance options that are available to you and provide the best financial advice. Many of the financial advisers here at Quantum have been self-employed or employed and moved to self-employment so we understand what it takes to be in business.

We understand the relief it can bring to have a no obligation non- judgmental discussion with a professional financial adviser that can assist with:

  • Providing you with a financial solution.
  • Getting you on track financially with a detailed plan to take you from a non-conforming financial loan to a much cheaper fully documented financial loan when you can.

For more information on non-conforming loans, please complete the enquiry form and one of our specialist Quantum Financial Advisers will contact you today.

Refinance

At the start of the working week, some people like to get their diaries in order or like to create a list of all the things that they will (try to) achieve this week, then set an order of priority around them.
Well, that’s what we do,however, there is always one or two things on that list that we will put off and roll over to the following week.

They are the if I have the time or if I have the head space for them I’ll do it kind of things.

And what we find is that those things, while not done, remain an irritation a bit like when you end up with a small pebble in your shoe. The pebble can be irritating, uncomfortable, nagging and can be eventually crippling. You can put up with it for a short time, then you have to stop, take the shoe off and shake it out.

And when you do, there is this immediate feeling of comfort and relief that returns.
I am often reminded every day, that for most people if their mortgage was their shoe, they tend to walk around with a pebble in it for a long time.

While they know that stopping and taking the shoe off to shake the pebble out, will make a world of difference, stopping and reviewing their mortgage is something few are inclined to do.

Life can change significantly over 2 and 3 years and it’s so important that you make sure that your mortgage, its features and interest rate, remains the best one for you.
Your little pebble might be $20 or $30 unnecessarily draining out of your budget EVERYDAY! In other words, you may be paying $20 – $30 everyday too much for your mortgage.

Conducting a mortgage review with us is just as easy as it is to remove a pebble in your shoe. We can do it over the phone.
We are happy to make some time for you this week inour diary. Just let us know.

Reverse Mortages

Hitting retirement age can certainly can create challenges when living the lifestyle that you wanted isn’t quite working out.

Worked all of your life, house paid off on National Super living the dream….not quite right?

Asset rich and cash flow poor sound familiar?

Reverse mortgages could possibly be a way to unlock the equity in your property with mortgage repayments not effecting your cash flow. Interested give us a call today to discuss the best option for you today.

If you would like more information on low deposit home loans, please complete the enquiry form and one of our specialist Financial Advisers will contact you today.