Principal & Interest vs Interest-Only Loans: What’s the Difference?
Principal & Interest vs Interest-Only Loans: What’s the Difference? When applying for a home loan or investment loan, one of the first decisions you’ll face is whether to choose Principal & Interest (P&I) or Interest-Only (IO) repayments. Both options work very differently, and the right choice depends on your financial goals, cash flow, and long-term […]
Home Loan vs Investment Loan: What’s the Difference?
Home Loan vs Investment Loan: What’s the Difference? As an experienced mortgage broker at Onvested Finance, we know that the purpose of your loan is the single most important factor in determining how it’s structured. Is the property your main residence or an income-generating investment? This distinction — Owner-Occupier vs Investment — isn’t just a […]
From Bad Credit to Home Ownership: What You Need to Know
From Bad Credit to Home Ownership: What You Need to Know Introduction The dream of owning a home is central to many financial plans. But what happens when that dream hits the wall of a poor credit score? A low score can certainly make the process more difficult, potentially leading to loan rejections or high […]
What is a Credit Score and How to Improve It?
What is a Credit Score and How to Improve It ? When it comes to applying for a home loan, personal loan, or even a new credit card, one of the first things lenders look at is your credit score. Think of it as your financial report card—a number that shows how well you manage […]
Myth: You Need a 20% Deposit to Buy a Home
Myth: You Need a 20% Deposit to Buy a Home When it comes to buying a home, one of the most common misconceptions is that you must save up a 20% deposit. While having 20% does offer advantages, it’s certainly not a strict requirement—and believing this myth can hold buyers back from entering the market […]
How much can I really borrow? Understanding your borrowing power
How Much Can I Borrow? Understanding Your Borrowing Power When you’re dreaming of your next big purchase—be it a home, a new car, or an investment property—the first question on your mind is often: “How much can I actually borrow?” Your borrowing power, also called borrowing capacity, is the maximum amount a lender is willing to […]
Step-by-Step: The Home Loan Process in 5 Easy Steps
Step-by-Step: The Home Loan Process in 5 Easy Steps Buying a home is one of the most significant milestones in life. But let’s be honest, the thought of securing a home loan can feel daunting. With so many documents, terms, and steps involved, it’s easy to get lost. The good news? With the right information […]
Fixed Vs. Variable Rate Loans: What’s the Difference?
Fixed Vs. Variable Rate Loans: What’s the difference? Fixed vs variable rate —When you’re considering a major loan — like a mortgage for a new home or a large personal loan — one of the first and most important decisions you’ll face is whether to go with a fixed or variable interest rate. This choice […]
What is a Guarantor Loan? Can Your Parents Help You Buy a House?
What is a Guarantor Loan? Can Your Parents Help You Buy a House? Buying your first home can feel like an impossible dream, especially with the challenge of saving for a deposit and meeting strict lending criteria. For many, the “Bank of Mum and Dad” becomes a crucial source of support. But what if your […]
Are You Eligible for the First Home Owner Grant (FHOG) in Victoria, Australia? (2025 Update)
Are You Eligible for the First Home Owner Grant (FHOG) in Victoria, Australia? Navigating the path to homeownership can be complex, but the First Home Owner Grant (FHOG) in Victoria offers a significant helping hand. As we look towards 2025, understanding the eligibility criteria is crucial for aspiring homeowners. What is the First Home Owner […]
