Hey everyone! In our latest blog, we're diving into 'What is a Home Loan Comparison Rate?'

It's super important to know because it's not just about the interest rate. This rate includes extra fees so you can see the real cost of a loan. We'll also chat about why banks often show you the lower interest rate first and what you should watch out for. Plus, we've got easy tips on how to smartly use comparison rates.

Check out the full scoop at Modern Property Finance to make your loan journey a breeze!"

Understanding Loan to Value Ratio (LVR): Your Guide to Smarter Home Loans

Posted on February 3 | By Thomas Makin

Are you thinking about getting a home loan in Australia but feel overwhelmed by all the financial terms? Let's break down one of the key concepts you should know – the Loan to Value Ratio (LVR) – in a way that's easy to understand.

What's Loan to Value Ratio (LVR) Anyway?

LVR is like a special formula that banks use to decide how much they can lend you for buying a house. It compares the amount you need to borrow with the value of the house you want to buy. The lower your LVR, the better your chances of getting a good loan deal.

Why Does LVR Matter for Your Home Loan?

Understanding LVR is super important when applying for a home loan. If your LVR is more than 80%, you might have to pay extra for something called Lenders Mortgage Insurance (LMI). But don't worry, we'll explain what this means and how you can possibly avoid it.

Easy Steps to Calculate Your LVR

We'll show you a simple way to figure out your LVR. It's just a matter of some quick math, and you'll be a pro in no time.

What to Do When Your LVR is Over 80%

If your LVR goes over 80%, there are some things to consider, like higher interest rates and LMI. But there are also ways to manage this, and we'll guide you through them.

Our Tips to Keep Your LVR Low

Want to keep your LVR low? We have some cool tips, like saving up for a bigger deposit or maybe even considering a more affordable first home.

Whether you're buying your first home or looking to invest in property, knowing about LVR can make a big difference. Join us at Modern Property Finance for easy-to-understand advice on home loans and how to make the best choices for your future.

[Click here to read the full article and become a home loan expert!]

Searching for a mortgage broker near you? Dive into our latest blog where we simplify the search. Modern Property Finance brings you straightforward, expert advice on home and investment loans, right at your fingertips. Discover essential tips, learn about using mortgage calculators effectively, and see how easy it is to make informed decisions about your property financing. Whether it’s your first home or an investment venture, our guide is here to help you find the right mortgage broker for your needs in Australia.