Residential Loans

At Pinnacle Capital we are experts in finding the right lender to finance your residential property purchase or refinance. We have extensive experience in assisting both first home buyers and seasoned property investors alike with their purchases - saving time and effort, while providing the best available loan rates, benefits and features for each client's individual situation.

We are specialists in arranging prestige loans for high net worth and tax structured clients, as well as assisting self-employed individuals or those requiring loans with limited documentation.
We are committed to providing you with a high level of customer service. Our goal is to offer you flexible finance solutions to meet your specific needs, however simple or complex these may be.

We have expertise in arranging finance for the purchase or refinance of properties for:

We are able to draw on a comprehensive selection of competitive products, utilising our established relationships with the many bank and non-bank lenders in the Australian property market. We have particular expertise in assisting our clients with the following products:

  • Professional packages
  • Introductory rates
  • Discounted variable and fixed rates
  • Lo Doc loans (self employed applicants)
  • Non conforming loans (credit impaired applicants)
  • Reverse mortgages

Contact Pinnacle Capital today for more information about the finance solutions we can offer to meet your needs. We offer no obligation free consultations


First Home Buyers

At Pinnacle Capital we have extensive experience in assisting first home buyers with their property purchases. Our goal is to save you time and effort, and to make the process as stress free for you as possible.

Our expertise in the home loan market will allow us to provide you with all the information you need to confidently select a loan with the best available loan rate, benefits and features to meet your individual requirements.

First Home Owners Grant – FHOG

The First Home Owner Grant (FHOG) scheme was introduced by the Federal Government on 1 July 2000 to offset the effect of the GST on home ownership, by assisting first home buyers to meet the cost of buying or building their first home.

When introduced it was a non means-tested grant of $7,000. However the Rudd Government recently introduced the Commonwealth’s First Home Owner Boost, to further help "stimulate housing activity and give first home buyers a better chance in the housing market".

Effective immediately, first home buyers purchasing established homes will receive a boost of $7000 that will double the FHOG to $14,000. Those who build a new home or purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000. 

FHOG Eligibility

A first home buyer will be eligible to receive the grant if they are an Australian citizen or a permanent resident who is buying or building their first home in Australia with the intention of occupying it as their principal place of residence within 12 months of settlement. Note that if you are purchasing a property in conjunction with others, they must also meet the same criteria for the grant to be available.

First home owners are only entitled to the FHOG Boost if the contract is entered into on or after 14th October 2008 and before 30th June 2009.

In some states additional bonuses may be available.

Please feel free to call us today on (02) 8305 0100 to discuss your opportunities and for assistance in accessing the FHOG.

Other Frequently Asked Questions

How Much Can I Borrow?

Factors that affect how much a lender will allow you to borrow, that is, your borrowing capacity, include:

  • The deposit amount you have saved
  • Your current income
  • Your current expense commitments

Borrowing capacity varies from lender to lender.

In deciding how much to borrow, you need to ensure you work out how much you can actually afford in repayments.

How Much Do I Need To Save For A Deposit?

The amount you need as a deposit will depend on the type of home loan and the lender you select. Generally, you will require a minimum of 5% of the property value.

What is Stamp Duty?

Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in.

What Other Expenses Will I Need To Pay?

As a rough guide, you should budget for between 5-7% of the purchase price, in addition to your deposit, to cover other fees and charges you may incur in the purchase of your new home. These fees may include:

  • Fees associated with the setup of your mortgage
  • Stamp duty
  • Building and pest inspection reports
  • Valuation fees
  • Lenders mortgage insurance (LMI)
  • Solicitors fees
  • Insurances
  • Utility connection fees – phone/gas/electricity
  • Council and water rates
  • Removalist costs

What Should I Do Now?

Contact Pinnacle Capital today and allow us to help you through the process of purchasing your first property. We offer no obligation, free consultations.


First Time Investors

If you already own your own home, you will be familiar with the property purchasing process; it is not that difficult to take your next steps in purchasing a property for investment.

Utilising the equity in your home to finance an investment is a great way of putting your property to work for you. This will often be a more cost-effective option than taking out a personal loan.

Negative gearing*

When the return or income you receive from your rental property is less than the expenses of owning that property (interest on your loan, council and water rates etc) – the property is said to be negatively geared.

In some instances the Australian Taxation Office will allow this ‘loss’ incurred on the investment to be offset against other income, as a tax deduction.

Example:

Rent received 30,000
Expenses incurred 42,000
Loss which may be claimed as a tax deduction 12,000

*Consult with your tax adviser to see how negative gearing can be applied to your personal situation.

Seek independent financial advice

The old adage that if an investment opportunity sounds too good to be true, it usually is – holds true. Always be sure to research your investment decision thoroughly. Be sure to seek independent property and financial advice.

If you are turning to property investment for capital growth, tax benefits and as a retirement strategy, it is very important to learn as much as you can, especially if it is an area you’re not completely familiar with.

Contact Pinnacle Capital today for more information about the finance solutions we can offer to meet your needs. We offer no obligation, free consultations.