Hi, I am getting ready to buy my first IP and need some advice on loans.
I saw that Ratebusters have fairly low interest rates (6.993%) but with application fees. Now I met with a mortgage broker whom has advised me that a loan with ING or CBA (rate around 7.4% with little or no application fees,) would be a better choice. The reason being that most people change there loan every four years, on average. Now my question is, why do people change their loans every few years and which loans can people recommend?
Justin
I saw that Ratebusters have fairly low interest rates (6.993%) but with application fees. Now I met with a mortgage broker whom has advised me that a loan with ING or CBA (rate around 7.4% with little or no application fees,) would be a better choice. The reason being that most people change there loan every four years, on average. Now my question is, why do people change their loans every few years and which loans can people recommend?
Justin