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:

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

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

Article Source:

Related Loans Articles Subscribe to RSS

Cheapest car loans in Australia
Published by Amber Dorsch on January 23rd 2012 | Loans
There is no need to go in any place rather than Adelaide if you are looking for a car loan in Austra...
60 day payday loans- Right option of financial plan for you!
Published by Karen Rase on May 7th 2012 | Loans
If you are wishing to avail 60 day payday loans, you can search online today. This is a great fiscal...
Small loans- Hassle free loan to meet urgent fiscal needs
Published by Belvin Kohli on June 5th 2012 | Loans
By availing quick cash via small loans, you have the right option to meet any unexpected fiscal need...
Short term loans- Borrow money today to enjoy tension-free life
Published by David Hassia on June 23rd 2012 | Loans
For those people who want availing money for short tenure, it is better for them to avail short term...
Cash loans today: Get Deal Approved Fast
Published by Hennry Levi on July 13th 2012 | Loans
Cash loans today are most preferred loan deals for people living in UK as they bring comfortable mon...
Installment loans no credit check-Instant cash help without credit verification
Published by Ponting Sarad on November 25th 2011 | Loans
If you want to get rid of any financial crisis then you need to apply for installment loans no credi...
Title car loans- Great financial help using your car
Published by Riyt Leson on December 24th 2011 | Loans
Now, title car loans are supposed to be the easiest way to grab quick money whenever you face emerge...
Logbook loans: Secured Money
Published by Abnre Cassa on April 3rd 2012 | Loans
Logbook loans are the secured loans where people don’t have to go through any tough qualification ...
Covetous home sellers valuing their houses higher
Published by David Hurley on January 25th 2012 | Loans
The financial researcher, RICS, has stated that the new homes are being advertised for sale and the ...
Instant decision loans: Feel Happy in Every Unfavorable Situation
Published by Kelvin Lopez on July 24th 2012 | Loans
Instant decision loans can be explored through online mode and so, you can feel satisfied with every...
Payday loans help- Valuable financial help for many borrowers!
Published by Adam Felix on April 27th 2012 | Loans
By applying payday loans help, you will get instant funds. The availing fund will be helpful to mana...
90 day payday loans- Ultimate fiscal solution for borrowers
Published by Ricky Loyel on June 21st 2012 | Loans
It is easy for you to solve short-term financial needs with the aid of 90 day payday loans....
Fast payday loans no credit check- Unique financial solution for borrowers
Published by Kelin Smith on May 10th 2012 | Loans
By availing fast payday loans no credit check, it is possible for you to borrow quick cash up to $15...
Payday loans no credit check- the ultimate way to meet fiscal worries
Published by Kelin Smith on July 18th 2012 | Loans
If you have acquired instant funds through payday loans no credit check, you can easily manage small...
Quick cash loans no credit check- Great fiscal scheme for bad credit people
Published by Aldenn James on May 30th 2012 | Loans
In fact, quick cash loans no credit check are known to be great fiscal support for bad credit people...
Same day loans till payday
Published by Herly Smith on January 3rd 2012 | Loans
Same day loans till payday also requires you to fulfill certain criteria In order to get the approva...
Payday text loans- with complete safety
Published by Cameron White on November 29th 2011 | Finance
Payday text loans are the most excellent kind of advances that will change your life eternally and w...
Small short term loans- Quick money useful for everyone!
Published by Martin Bale on December 15th 2011 | Loans
If you want to get quick and small cash then it is preferable for you to apply small short term loan...
Short term loans no credit check- Get funds without any fear of bad records
Published by Fabin Bearl on May 7th 2012 | Loans
For the bad creditors it is a brilliant offer to provide funds in less time period and concerned abo...
Small loans no credit check- the best financial solution for borrowers
Published by Beidhi Ceeper on April 7th 2012 | Loans
With the aid of small loans no credit check, you are now easily grab small funds up to $1500 to mana...