Interest you have earned or incurred that is yet to be paid or charged.
An asset that guarantees the lender their loan until the loan is repaid in full. Usually a property is offered to secure the loan.
Extra funds paid into the loan in addition to the minimum monthly or weekly repayments. These extra funds reduce the term of the loan.
The process of allocating expenses, e.g. council rates, water rates, gas rates, electricity rates, etc.
Someone who acts on behalf of another person or organisation.
A feature of the hme or property that serves as a benefit to the buyer, but is not necessary to its use. May be natural (like location, parks, water) or man-made (like a swimming pool or garden).
Repayment of a Home Loan through monthly instalments of principal and interest. The monthly repayment amount is based on a schedule that will allow you to own your home at the end of a specific time period, (e.g. 15 or 30 years). Also known as the loan term.
The first step in the home loan approval process is to complete the loan application; this form is used to record important information about the potential borrower necessary to the underwriting process.
Fees charged to cover or partially cover the lender's internal costs of setting up a loan.
A document that gives an estimate of a property's fair market value appraisal is generally required by a lender before the expiry of the fixed-rate period.
The total of overdue loan repayments.
Australian Securities and Investment Commission.