Home Loan News

APRA to change home loan assessment guidelines, but is it for the best?

The July decision to reduce the home loan assessment rate will allow more people to switch lenders and increase the borrowing capacity of new borrowers.

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Many mortgage programs and home loan products have hidden fees; on the outset, they aren’t very obvious. By the time everything is said and done, though, they can increase a borrower’s expenses by a considerable margin. VA home loans are interesting because they don’t include a ton of different hidden fees.

Understanding pre-approvals. And that’s what a mortgage pre-approval is: the process of determining whether a borrower meets a particular lender’s guidelines for a home loan. It shouldn’t be confused with a mortgage pre-qualification, which is a much more cursory look at your financial picture.

APRA’s rule change will unlock the mortgage handcuffs that prevent many borrowers from switching to a better value home loan. The savings potential from switching from typical big bank rates can be tens of thousands of dollars over the life of the loan.

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The Australian Prudential Regulation Authority (APRA) has altered serviceability assessment guidelines for mortgage lenders, making them lower and more flexible.. 5 ways to pay off your home.

APRA supervisors will continue to monitor the trend in higher LTI lending closely, and are encouraging ADIs to use loan-to-income type metrics in their own internal risk management. The most recent element of our program to intensify APRA’s supervisory oversight of mortgage lending is a series of deep dives into ADIs’ methodologies to calculate the borrower’s capacity to repay.

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Australia’s bank regulator APRA has found a significant tightening of home lending criteria since it began a crackdown in late 2014. tighter criteria mean that more marginal borrowers are increasingly.

To address this, APRA has included additional guidance in APG 223 that a prudent lender would undertake a new serviceability assessment when making a material change to current or originally approved loan conditions (for example, changing between principal and interest and interest-only repayment terms).

You have probably seen or read in the news recently that the Australian Prudential Regulation Authority (APRA) has issued guidelines resulting in changes to mortgage lending policy.. You may be wondering exactly what the changes mean – and particularly what they mean for you.

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