Products

For most of us, a home loan will be the single largest commitment we will ever have to make. So before you buy or build a home it is a good idea to spend a little time getting to know the various types and sources of home finance that are available.

Choosing the home loan that best suits your needs and at a competitive price can be an extremely daunting task, but Freedom Capital can make it easy for you.

We offer the following products:

For tips on Finance and Property Purchase, click here.

What do I need to supply to obtain a loan?


Housing Loans
If you are purchasing your first home, your second or even your third, Freedom Capital can assist you in choosing the product which best suits your needs, and can help you through the steps to moving into your new home. We can even assist you with programs like the First Home Owner's Grant Scheme, arranging a Settlement Agent and even helping you locate a property to purchase.

Housing loans come with a wide range of optional extras such as interest only repayments, variable rates, fixed rates, honeymoon rates, discounting packages, redraw, offset facilities, repayment holiday, top up and direct access via ATM.

In addition to banks reducing their branch numbers and staff, and your limited available time, how do you choose the best loan package? A financial advisor from Freedom Capital will sort through the maze of products and options available, leaving you plenty of time to find the home that's right for you.


Investment Loans
Property investment is a great way to secure your financial future. If you are looking to purchase a new investment property or draw on the equity you hold in an existing property to fund an investment portfolio, Freedom Capital can show you a range of products to suit your requirements. Our lending consultants have years of experience in writing investment loans, and our highly competitive rates mean you are in the best position to make money on your investment.

The products available include variable rates, fixed rate periods of 1,2,3,4,5,7 or 10 years, principal & interest repayments or interest only repayments up to 5 years.

 

Debt Consolidation
Do you have numerous facilities that are hard to manage and keep track of? Then perhaps you should consider consolidating some or all of these facilities into one easy to manage loan. Debt consolidation can reduce your overall monthly commitment and may also reduce the amount you pay in fees and charges.

It's as easy as one phone call to Freedom Capital and we'll do the work for you to switch over to a Freedom Capital Home Loan or to any Finance Institution of your choice.

 

Refinancing
The mortgage that suited you once might not meet your needs today. Freedom Capital can help you:
· Reduce your costs and fees
· Consolidate your existing housing loans, personal loans and credit cards into one account.
· Add flexibility by taking advantage of features such as unlimited redraw and direct salary crediting.
· Access extra money for any worthwhile purpose. Renovations, swimming pool, car, boat or even school fees.

It's as easy as one phone call to Freedom Capital and we'll do the work for you to switch over to a Freedom Capital Home Loan or to any Finance Institution of your choice.

 

Construction Loans
Planning on building your own home? Freedom Capital can help you choose the right product to suite you needs during and after construction. We are also able to provide you a borrowing capacity assessment, so you can confidently arrange the construction of your new home.

 

Equity Lines
Provide customers with convenience, flexibility and security. A revolving line of credit can be accessed via cheque, direct debit, BPAY or credit/debit card and is secured by a mortgage over a residential property. With a line of credit it is possible to redraw to the set credit limit as and when required.

· You can use the money as you need and pay it back when you can.
· Interest rates are usually lower than for credit cards and personal loans.
· The value and location of the security offered determines credit limits.
· Your wages and other income can be directly credited.

 

Low Docs / Easy Docs Finance
Many business owners find it difficult to obtain finance, as they are not able to prove or wish to show the banks the income they earn, due to the accounting practices they use.

Freedom Capital Home Loans and other non bank lenders are able to assist you in obtaining finance by simply signing a declaration of income and afford. Conditions and maximum borrowing limits apply on a case by case basis. Generally, the interest rates on these products are higher than the standard variable rate due to the higher risk involved.



First Home Owners Grant (FHOG)
The First Home Owners Grant Scheme was established by the Federal Government to assist in offsetting the effect of the Goods and Services Tax (GST) on the purchase or construction of a home by a first home buyer.

First homebuyers can apply for the grant through their State or Territory Revenue Office or through a participating financial institution.

Eligible applicants will be entitled to a maximum $7,000 grant at settlement or on completion of their home, payable into a nominated account. The home must be a fixed dwelling that meets the local planning standards. The grant will not be available for renovations or for the purchase of vacant land. Payment of the grant is not means tested and there is no upper limit on the value of the property being purchased. However, to receive the grant, each applicant must comply with the eligibility criteria detailed below.

You will generally be eligible for the grant if you satisfy the following criteria:

1. Neither You nor your spouse /de facto must have received the grant previously.
2. Neither You nor your spouse /de facto must ever have owned a residential property, either jointly, or with any other person anywhere in Australia BEFORE 1 July 2000.
3. Neither You nor your spouse /de facto must never have owned AND OCCUPIED a residential property, either jointly, or with any other person anywhere in Australia AFTER 1 July 2000.
4. Each applicant must be a natural person - ie not a company or trust.
5. At least one of the applicants must be a permanent resident or citizen of Australia.
6. At least one of the applicants must occupy the established home as their principal place of residence within 12 months of either settlement or completion of construction.

 

Business Loans
Whether you're looking to purchase a new business or expand you existing business for further growth, we can help you locate a business loan to suit your needs. Business loans can be either short term or long term finance for any worthwhile purpose. The interest rates and fees vary considerably between lenders and products, due to the risk margin that the financier assesses your business at.

Due to the complexities involved in business lending, the time required arranging such facilities can be quite considerable. So why not let us do the leg work to let you get back to doing what you do best?

 

Leasing
This is finance by which property/merchandise is conveyed to a person for a specific period, with rental payments made during that period. At the end of the contracted period a set balloon payment can be made and the purchase takes possession of the goods or the goods may be returned.

 

Hire Purchase
This finance allows a purchaser to take possession of the property/merchandise following payment of a deposit with the balance of the purchase price paid over a specific period at a specific interest rate.

 

For Tips on Finance and Property Purchase

Selling and buying is all about timing. Looking for a new home while in the process of selling your existing home makes sense, but it's important not to commit to purchase until you have sold your current home or have obtained Bridging Finance.

Consider having the property you intent to purchase, inspected by a quantity surveyor, builder or architect before you buy to assess whether there are any defects or factors that may affecting your decision to buy. This may be particularly important if extensive renovations or alterations are being contemplated or have been completed by the current owner.

It is vital that you organise your finances before making an offer on a property. Make arrangements for the deposit money to be available should you be successful, as well as appropriate mortgage funds. While you cannot buy 'subject to finance' at auction, you can make conditional offers through private sale. Most people do not have enough money to buy a home without obtaining finance, usually in the form of a mortgage on the property. Confirm with the financial institutions the amount they would be prepared to lend and then check this amount with your capacity to pay without seriously impacting on your quality of life.

It is important to know all costs, in addition to the price of the property, for which you are liable. A checklist of costs would include:

  • legal/conveyancing fees;
  • stamp duty on transfer of property;
  • stamp duty on the mortgage;
  • loan application fees;
  • disbursements such as a pest control inspection report;
  • insurance, title search fees, rates and taxes;


If you are buying your first investment property or are expanding on your existing investment portfolio, Freedom Capital strongly recommends that you seek the services of a Qualified Financial Consultant and or you accountant, prior to entering into any contract to purchase.

 

What do I need to supply to obtain a loan?

One way to make the home loan process easy is to ensure you have certain information ready before applying for your loan. Some of the important things your lender will ask for are:

· Details of your monthly income and of any other income you earn (such as overtime, bonuses or a second income). You need to provide a copy of your last two group certificates and three of your most recent pay slips as proof of that income;
· If you are self-employed, most lenders will require copies of the last two years' tax returns, both business and personal, plus the last two years Profit & Loss and Balance Sheets;
· If there are two borrowers, you should include details of both borrowers' income;
· Evidence of your savings history, such as bank statements, along with details of accounts;
· Details of your current assets and liabilities such as any current personal loans, credit card debts, etc;
· If you have found the house of your dreams, you will need to provide details of the property or a copy of the signed pages of the Contract of Sale, if available;
· If you are buying an investment property, you will need written confirmation of the rental income from the real estate agent.
· If you are refinancing your existing loans then you will also need to supply the last twelve (12) months loan account statements showing your credit history.

If all your reference checks are acceptable, and the lender is satisfied that you can meet the loan repayments, your application should be accepted.

 

To meet with a Financial Consultant, click here.

Freedom Capital
Shop 32, 20 Strelitzia Ave, Forrestfield WA 6058
Phone: (08) 9359 4683  Fax: (08) 9359 0500