Home Loan Basics [Mortgage Explained Simply]

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Mortgage Explained Simply

00:26 - What is a mortgage and how does it work?
02:03 - How does a home loan / mortgage work?
03:19 - What does a 95% mortgage mean?
04:27 - What is loan to value ratio?
04:58 - What is lenders mortgage insurance?
06:18 - What does principle and interest mean with mortgages?
08:18 - Can I buy a property without a mortgage?
08:45 - How much money should I save before I buy a house?
09:15 - Conclusion.

Topics we cover in this video.
What even is a mortgage. Home loan jargon explained simply. A beginners guide to mortgages in Australia. A mortgage is a residential home loan secured against a residential property. We look at what loan to value ratio is. How the banks facilitate lending.

DISCLAIMER:
This video offers no Legal, Financial and Taxation advice, and the information contained is general and does not take into account your personal situation. The Listener acknowledges, consents and agrees to the viewing of the content presented on the Channel is subject to the full Disclaimer (below) and agrees to be unconditionally bound by this Disclaimer.

[bobtailsquid]

Maybe a video about Pexa & complications with transfers that might come up (Caveats issues with the vendor sides of things etc) would be good.

[HSMET]

Whats ANZ turnaround time for final approval after valuation?

[kooroshboozorg]

Hi-Im just curious if anyone have any information on CBA Pre-Approval, is it fully assessed, if it’s reliable?

Thank you

[BishoTren]

Hey boys, could you do a farm loan series . Many many different options and I’d love to hear your practical breakdowns. Also in particular do you guys have any experience in setting these up I’d love to get in touch if so. Cheers

[nikitavashishtha]

Hi Can an Australian PR who stays abroad, buy a home in Australia with bank mortgage, but who doesn't have any credit history in Australia? That is just by paying the deposit, can a PR buy a home on mortgage or loan against property ?

[CrackPipePete]

How are deposits percentages decided upon? When I have been looking at apartments in Melbourne the real estate app claims that nearly all properties require a Deposit worth about $250K.

[HSMET]

Why banks accessment is different for broker's application and why they take longer to access as compared to their own direct applicants?

[janeeyiah-quansah]

Can a permanent resident who has been in australia for only three months and working full time get a lender if he or she has 10% deposit for a residential mortgage

[johncitizen]

- If i do not pay my monthly payment on time, do i get charged a late fee?
- Also, what sort of risks is the bank taking e.g. if the property is possessed by the bank but the value of the property has gone down, how do they recoup the money lent if they could not sell the house for high enough in the market? Meaning, do the banks share in any losses which may be incurred or will they only make a positive cash flow?
- Who possesses the title during the mortgage? The bank or the borrower?

[leighwaine]

I'm pretty sure your video was copied by another YouTuber