A homeowner loan refers to a secured loan in which the borrower’s sum is secured against the borrower’s home. Their home is essentially security, minimising the risk of a lender but gives the lender an increased risk if repayments aren’t made.
Homeowner loans are considered the safest bet across all loans, as they are more secure by offering more protection to the borrower.
Before getting into one, however, you need to be certain on how much you want to borrow from the bank, and how long you want to repay. Working out the value of your property, as well as the amount of equity you have, is important because this influences your allowed budget, and may affect repayment schedules.
Luckily, we can help with this. We will also help you check your credit score, so if improvements are necessary we can get to them fast and efficiently. If you are ready to continue with your homeowner application, it is also worth noting that we compare homeowner loans across our range of lenders. Given our strong relationship with all major lenders and banks across Auckland, we can find the ideal fit for you!