FAQ (Frequently Asked Questions)

Here are some popular questions we get asked:

Want to buy a house, what do I need to do?

Please contact The Fund Master, customised Mortgage, Loans and Insurance solutions. We will assess your current situation and advise you of your options and the process involved. And our services are completely free.

What forms and documents do I need?

i. Photo ID eg: drivers license, passport

ii. Latest three months bank statements

iii. Confirmation of income

Further documentation may be required depending on your individual circumstances - we will advise you

What are the costs involved in getting a home loan?

Based on one purchase and one mortgage the costs are approximately as follows:

i. Application fee 400 to 1% of the loan amount

ii. Solicitors fees - $1000 - $1200

iii. Registered Valuation (if required) - $600

iv. Building Inspection (if required) - $500

v. Low Equity Premium (LEP) - this is a fee charged when lending goes above 80% of the value of the property. Generally it is a percentage of the loan which varies depending on which lender we go with. It is usually added to the loan

vi. House Insurance - can be paid monthly on average, a $300,000 home would cost about $400 per annum

How much can I borrow?

i. Contact The Fund Master team to find out your maximum borrowing capacity and get the professional advice which is absolutely FREE

ii. Simply, use our calculator for the rough indication

Can I borrow 100%?

The Answer is NO. Most banks now only lend up to 80%. If you have good income we can typically get you to 90% and for some 95% but the borrowing costs are high. Other options to think about are to use you parents as a guarantor.

Call us and we will discuss with you in details.

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