Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Securing Property Valuations for Your Property Investment Loan

By Crowin Smith Subscribe to RSS | March 20th 2012 | Views:
loading
 
  



Before you decide on which property to purchase, your lender needs to know the general price tag of the property. Strictly speaking, banks and lending institutions in general will refuse to accept the property valuations you will provide. They will also refuse the estimate provided by your real estate agent, as well as the taxation notices from your local council.

So how exactly do you acquire property valuations for your property investment loan? The valuation process will be conducted and accomplished by no other than an independent valuation firm. Some of the factors that will be considered in the valuation process are the property’s condition as well as the most recent sales of similar properties in your area.

Aside from determining whether or not the property you want is qualified for the home mortgage amount that you need to borrow, it will also be used as the basis for qualification for the:

Lenders Mortgage Insurance (LMI)

This insurance is meant to protect your lender from financial loss in case you end up defaulting on your mortgage loan. You will be asked to cover this particular insurance when you borrow more than 80% of the total price of your property. A mortgage calculator called the LMI calculator will help you determine the amount of your LMI premium.

First Home Owners Grant (FHOG) and other government-sponsored concessions

The First Home Owner Grant was introduced back in 2001 to counter the effects of the GST on home ownership. As a national scheme, it is funded and administered by the states and territories. The scheme grants qualified first home owners a one-time payment of $7000. However, the exact amount can vary per state. Consulting with a mortgage broker would be the best option to know exactly how much you will get for the FHOG and other grants you might be qualified to receive. Take not that you will not be able to qualify for the grant unless you already have a pre-approval and a contract of sale.

Of course, you can apply for the FHOG and other state-sponsored concession schemes on your own. But still, it would still be more convenient and easy for you if you just hire brokers who will take care of your home loan application from start to finish. This saves you a lot of time and effort.

Strictly speaking, the valuation report that will be accomplished and provided by the independent third-party firm will play a huge role in determining how much you will receive and whether or not your property investment loan application will be approved. But if by any chance you believe that the amount you were approved and provided is very low, you will have the option to complain and challenge the valuation.

Crowin Smith - About Author:
For more information regarding Property Investment Loan, Please visit Cashbackmortgage.com.au

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/securing-property-valuations-for-your-property-investment-loan.htm

Related Loans Articles Subscribe to RSS

Mini loans – Quick cash just a message a away
Published by Claire Hurley on January 30th 2012 | Loans
Mini loans prove to big help at the time of urgency. Just drop in a SMS and enjoy the instant cash w...
 
Fast cash loans no credit check- Proved to be lifesaver financial support for all
Published by Adam Felix on May 11th 2012 | Loans
By acquiring quick cash via fast cash loans no credit check, you have the facility to meet unforesee...
 
Very poor credit loans: a New Turn in Poor Creditors’ Lives
Published by Adam Klovis on March 27th 2012 | Loans
People with blemished credit rating don’t need to get upset as they can fetch required loan sum th...
 
Savings account payday loans- Convenient way for getting instant cash at peak hours!
Published by Onner Roy on December 6th 2011 | Loans
Savings account payday loans are also termed as cash advance since it can be taken as advance cash u...
 
Online faxless loans Canada: No Faxing Funding for Canadian People
Published by Simon Ray on July 11th 2012 | Finance
Online faxless loans Canada have been introduced for the benefit of the salaried people of Canada. T...
 
Hassle free payday loans - Perfect key to your cash crisis
Published by Ponting Sarad on May 28th 2012 | Loans
If you are taking quick cash via hassle free payday loans, you can relieve unexpected fiscal worries...
 
Short term loans bad credit: Meet Short Term Needs Timely
Published by Martin Bale on July 7th 2012 | Loans
Short term loans bad credit is the nice option of finance for you when you need money for small and ...
 
30 day cash advance loans- Ideal fiscal solution available online
Published by Jon Kohli on June 12th 2012 | Loans
By availing instant funds through 30 day cash advance loans, you have the ultimate solution to meet ...
 
90 day short term loans- Use money for 90 days
Published by David Hassia on June 16th 2012 | Loans
If you want to use money for 90 days, it is better for you to avail 90 day short term loans in order...
 
Payday loans now – fast check for quick cash
Published by Alvin on March 26th 2012 | Loans
Payday loans now currently concentrate on quick services for those times once you would like fast ad...
 
Paper Check loans- useful to manage fiscal emergencies
Published by Luck Wright on June 9th 2012 | Loans
By acquiring instant funds through Paper Check loans, you can easily get rid of any financial trauma...
 
Bad credit loans instant decision- Grab quick cash as per your personal needs
Published by Balvin Bart on June 29th 2012 | Loans
If you are taking quick funds via bad credit loans instant decision, it is easy for you to resolve s...
 
Instant cash loans: Target of Every Loan Seeker
Published by Kent Jesy on April 19th 2012 | Loans
Instant cash loans are proposed for people to tackle with their urgent issues with no further diffic...
 
Faxless payday loans- Fantastic financial support for borrowers
Published by Aden Jon on March 28th 2012 | Loans
By availing faxless payday loans, it is possible for you to overcome any financial crisis. At presen...
 
Long term payday loans online- Great option to borrow quick cash
Published by Freddie Lee on May 18th 2012 | Loans
Long term payday loans online is a fantastic fiscal alternative that helps you to fight against unfo...
 
100 payday loans- Grab quick cash to cover unexpected needs
Published by Micles Jonson on April 4th 2012 | Loans
If you need small funds, 100 payday loans are perfect for you. This loan is helpful to manage small ...
 
Unsecured loans for bad credit: Get Money with Blemished Credit Ratings
Published by Gamin Kils on July 18th 2012 | Loans
Unsecured loans for bad credit would serve you money when you are not having collateral to use and y...
 
Saving account payday loans- Regarded as good sum of fund before payday!
Published by Jon Kohli on June 27th 2012 | Loans
The amount of money that you have taken from saving account payday loans is useful to meet many fina...
 
Cash loans for bad credit- Ultimate cash support for bad credit holders
Published by Andrew Stomes on May 17th 2012 | Loans
By acquiring quick cash from cash loans for bad credit, you can manage day-to-day financial needs....
 
Payday loans UK: a fine combination which facilitates salaried persons
Published by Moon Thomas on January 27th 2012 | Loans
Get the cash quickly under Payday loans UK and eradicate all your fiscal issues conveniently. Positi...