Credit repair is sometimes sold aggressively to home buyers with a bad credit rating, many of whom wonder whether this credit repair is worth it.

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Mortgage brokers can be useful for finding either cheaper or more unusual mortgages, but like everyone else they need remuneration for their efforts. It is a good idea to know how a mortgage broker gets paid.

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Home loan approvals can sometimes be harrowing, particularly for first-time buyers. There are many factors mortgage lenders take into account, including the income of the buyer, the proportion of the loan that is set out as a deposit, and the value of the house. However, the most important factor, not only for first-time buyers but also those seeking to climb the housing ladder, is the buyer’s credit rating.

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100% home loans finance the entire appraised value of the house and do not require a deposit from the buyer. Such mortgages are not always available due to fluctuations in financial markets, and when they are available they tend to have tighter credit requirements as well as being more expensive.

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Split home loans have an interest rate that’s split into a fixed rate and a variable rate component. This provides some of the cost advantages of a cheap variable rate mortgage while at the same time some of the certainty of a fixed rate.

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