home loan

Pay off your mortgage in your sleep - #2

So, have you filled out your Personal Financial Position Review? If you haven't—stop and go and do that now.

Like and journey, you need to work out exactly where things are right now and where you're headed. Rather than simply wandering aimlessly though life, you are at the crossroads—the tipping point—and are committed to doing things differently this time.

How much money can I borrow?

The question asked most often about mortgages or home loans, is "How much money can I borrow?". There are many answers to that question, but the reality is only one is correct.

There are two critical 'affordability' calculations that are similar with any lender. One is Loan to Valuation Ratio or LVR, the other is Debt Serviceability Ratio [or a range of other similar terms] or DSR.