FINANCE

Finance | Mortgage Calculator | Investment Calculator | Stamp Duty Calculator

A Ray White Lending Manager will be able to help you with accurate calculations. But for a quick guide check out our Mortgage Calculator.

More information about grants and benefits can be obtained from the NSW Office of State Revenue.

It is important to get a Home Loan Pre-approval. It is similar to full finance approval, except that the property you intend to purchase has not yet been determined.

• It is a commitment from the lender as to how much they will lend you when you are ready to purchase.
• You will know exactly how much you can spend before you buy.
• When you find the right property you are in a position to act quickly.
• A pre-approval may help you negotiate a better price with the seller.
• A pre-approval allows you to bid at auction under the conditions of a cash contract.

A range of miscellaneous costs and fees are involved in any real estate purchase.

• Stamp duty -The NSW Government charges a tax or 'stamp duty' on the purchase of all property. It is calculated according to the price the property is sold for. Check out our stamp duty calculator
• The Goods and Services Tax is not payable on stamp duty. However, should the sale price of a property include GST, then stamp duty is calculated on the GST inclusive price. Contact the ATO for more information.
• Conveyancing - You must pay a significant amount in legal fees for the 'conveyancing' of your property, the process of officially converting its ownership from the seller to the buyer.
• Insurance - You may need to take out mortgage insurance if you want to borrow more than 75% of the cost of your home. This protects your lending institution should you default on the loan.
• An Application fee charged by your lending institution to establish your home loan
• The costs of a professional valuer, engaged by your lending body before your loan is approved.
• Mortgage registration