Set yourself up for the future with
the right investor home loan.
Building a successful investment property portfolio starts here
With any investment, you need to know you have the right strategy and structure to give you the best return.
When it comes to property, that starts with your investor home loan.
At Mortgage Innovations, our team is experienced in helping investors like you purchase your investment property the easy way. We’ll help you find the right loan structure to suit your needs and investment goals from our panel of over 40 lenders with over 1,000 home loan options.
Invest for the future
We’ll find you a loan structure and rate to suit your goals
5-star google reviews from our happy clients
Enjoy buying your first home as our team answers your questions and guides you through the process
Elite Broker Status
so you get lower rates and faster approval times
Get investor home loan approval ready
Give yourself the best chance of approval with our top tips from our investment property mortgage brokers. It’s everything we’ve learned in the 15+ years we’ve been helping investor home loan applicants get their loans approved.
Yes, you read that right – this stuff is important because it will help get you into that home you’re dreaming of:
Know your numbers
The numbers are important because they determine how much you can loan and the right type of loan to suit you. By numbers, we mean your:
- Income: how much you make, or combined household income.
- Living expenses: how much your day-to-day life actually costs and what your budget is moving forward.
- Savings: how much you have saved, and how much you need to put towards your deposit and purchase costs including conveyancing and building and pest reports.
- Savings history: lenders may check if you have a pattern of regular savings in the past 6–12 months.
- Rental history: lenders may look for 6–12 months of good rental history through a property or on-site manager. Some lenders will consider this in lieu of genuine savings.
- First home buyer benefits: see below.
- Spending patterns: lenders have recently started analysing what you spend including things like dining out and UberEats.
- Costs: the amount you can loan is impacted by costs like government and legal fees.
- How much you can borrow: aka your lending capacity. Calculate yours here.
If that all seems like a lot, our team is here to help make it easy for you. Get in touch with us and we’ll talk you through all of this and answer your questions.
Check your credit
Did you know that applying for finance or paying bills late can impact your ability to apply for a home loan? We all have a personal credit score; it’s something lenders look at when you apply. Your credit score can be affected by repeatedly paying bills late or declined applications for finance.
What does that mean for you? Pay your bills on time so when you apply for finance, you have the best chance of approval.
If you’re freaking out at this point, that’s OK. Why? Because we’ll be honest with you about your chances of approval. We’ll then match your finance profile and history to the lender that gives you the best chance of approval.
Prep your paperwork
To save time and get ahead, prep the following paperwork:
- Six-month statement on current mortgages
- Most recent rental statement or lease agreement on investment(s)
- Most recent rates notice(s)
- If PAYG: two most recent payslips and this financial year’s PAYG Tax Summary
- If self-employed: two most recent years’ personal and business tax returns and financials
Using equity? Get your home valuation-ready
If you’re using equity in your own home to buy an investment property, your lender will require a valuation. Some banks use an electronic calculation to value your property, but this misses any improvements you’ve made to your home. Our team makes sure that your lender does a full valuation to help you capitalise on the full value of your property.
To give you the best result on your valuation, prepare your home for the valuer’s visit. Make it look like you would if you were planning to sell it to show the valuer its true value. It’s worth the extra time to help you achieve the best result.
Find the right finance professional
If you’re reading this, it’s because you’re trying to find the right finance professional. To give you the best chance of securing your next investment property purchase, take the time to check that they:
- Are experienced with investment loans
- Take the time to answer your questions
- Can find the right loan to suit you from a range of lenders
- Explain the numbers to you in detail
With over 250 five-star reviews and experience helping lots of property investors, our team of Gold Coast based mortgage brokers would love to help you.
How it Works
LOOKING FOR AN INVESTOR HOME LOAN?
LOOKING FOR A HOME LOAN?
Our step-by-step Loan process is designed to:
- Find you the right home loan product to suit your needs
- Save you time
- Give you the best chance of approval
- Make it easy for you
- Support you throughout the process
To save you time, we’ll do some research on which lenders and loans might suit your needs before we catch up. Then we’ll talk in more detail about your circumstances and goals so we can find you the right loan.
Once your application is submitted, our Elite Broker status gives you a faster turnaround time. We’ll update you on the progress of your application and let you know as soon as it’s been approved.
The first step in finding your investment loan finance is a chat with one of our friendly team. We won’t waste your time and will let you know if you’re eligible for a loan:
John and Sarah had a mortgage on their home with one of the major banks. They talked to them initially about purchasing their first investment property.
Unfortunately, the value the bank used on their existing home was a very conservative estimate that wasn’t going to allow them to move forward with their investment property plans. The couple came and saw our team and we were able to arrange several valuations through different lenders to see which lenders might have a more realistic view of their equity position.
Fortunately, we found a lender that increased John and Sarah’s equity position by $50,000, which was enough for them to move forward with their first investment purchase. This also saved them a lot in mortgage insurance.
If they had just stuck with their bank, they would have limited their options and not been able to realise their dream of owning an investment property. We were able to give them options and solutions for them to move forward.
Why should I talk to you instead of my bank?
Because unlike a bank, we have access to over 40 lenders. This means we find you the right first home buyer home loan, which starts with the right structure to suit you. We’ll show you what your bank can do plus compare it to the market, giving you a bigger range to choose from.
Do all banks use the same valuation methods to confirm equity?
No, they all have different valuation methods to confirm equity. Some use electronic assessment valuations, which can be conservative or in some areas very generous. If you have completed renovations on your property since you purchased it, you may have added substantial equity to your property. A full internal property valuation inspection may potentially work better where the valuer can see the improvements that you have made.
How much do you charge?
Our service is at no charge to you.
Are investment loan rates different to home loan rates?
Yes, the banks on average charge an extra 0.2%. Interest-only loans also have a 0.2% to 0.5% margin attached.
Is it wise to have your loans cross-linked or cross-collateralised with your home and investment properties?
Most banks will automatically cross-link your home and investment loans. As your mortgage broker, we aim to keep all your property loans unlinked as this gives you a lot more control over your assets should you wish to sell one of them. If they are cross-linked, the bank will control what debts need to be paid out to release the property. We can also assist to refinance investment loans to a more desirable structure.
Should I do interest-only or principal and interest (P&I) repayments for my investment mortgage?
This will be determined by working out your cashflow and also seeking taxation advice. As a general guide, a lot of investors that still have a home loan make P&I repayments on their home loan and interest-only on their investment loan. This way they maximise the tax benefits associated with their investment property and surplus cashflow can go towards their home loan, which isn’t tax-deductible.
Still have questions? We’ve got answers:
Find out what your numbers are
Work out how much you can borrow, what your repayments will be and plan how much you could save with our free calculators (or you can request a free consultation to get your questions answered).