First Home Owners Dashboard.html

First Home Owners Dashboard

The First Home Owner Dashboard is designed to provide First Home Owners with all the information they need when it comes to buying a home. This information is based on conditions specifically for New South Wales in Australia though having said that there is a lot of information that does cross borders and will be valuable to anyone looking at becoming a home owner some time soon.

The information included covers;

• First Home Guide
• First Home Owners Grant
• Stamp Duty Exemption
• Home Loan Repayment Calculator
• My First Home Loan
• First Home Owner Tips – From a Seasoned Campaigner
• First Home Traps – Avoid Common First Home Owner Traps
• A Friend On the Inside

You can visit the First Home Owner Dashboard through this link.

Happy Home Hunting…

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Loan & Debt Consolidation

Consolidtion Simulator Part 1 of the home owners toolkit

These days it is tougher and tougher to stay on top of your loan interest repayments. Multiple credit cards, personal loans, store cards and car loans all add to the ever increasing debt load that many of us carry these days.

One solution to the problem that is often spoken about is debt consolidation. Debt or Loan Consolidation simply refers to a process where by you take all your debts and refinance them (ie. pay them off) into a single, more economical loan facility.

The best type of loan to use for a debt consolidation strategy is your home loan. The reason being that your mortgage usually has the cheapest interest rate of all the credit facilities we have access to.

The one pre-requisite to be able to accomplish this though is that you need sufficient equity in your home to be able to make it happen. Equity simply is the difference between the current value of your home less what you owe on your mortgage.

For example it your home is valued at $300,000 and your current mortgage balance is $220,00 you have about $80,000 in equity that you could use in part to consolidate your debts.

This may sound a little like rearranging “Deck chairs on the Titanic” but the effect this can have on your cash flow each week can be quite dramatic. Depending on your situation you may save as much as 20% to 30% (or more) compared to what you’re paying right now.

The calculations required to check whether a debt consolidation strategy can work for you can be quite involved, so to make the process of finding out a little easier I have put together a simple tool I call the Debt Consolidation Simulator. You can download a copy for yourself by following this link. Debt Consolidation. It’s free to download and very simple to use and it will show you if this is a worthwhile solution for you.

All you have to do is just fill in the blanks and the Debt Consolidation Simulator will work out precisely what you are paying right now along with how much you will pay after consolidating your debts into a simpler and hopefully cheaper loan facility.

If you have any questions or need any help please feel free to let me know. I will try to help you in any way I can.

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