At Fox Home Loans, we recognise that each one of our client's needs for commercial property finance is different.
Our aim is simple, to provide you with the most effective financial solution for your commercial property loan needs. This means researching and presenting you with the most competitive funding solution.
We specialise in working with businesses seeking commercial property loans and we pride ourselves in offering end-to-end solutions.
We don't stop there, we work hard to negotiate the best loan terms while allowing you to concentrate on getting on with your business.
Due to our large spread of lenders in commercial property finance, our parameters are quite broad. Below is our general profile of the lending criteria on commercial property.
A commercial property loan is designed for businesses that need a loan to purchase a property for business or investment use.
These loans are strictly available to businesses and range in loan terms from five years to as long as 20 years. The loan-to-value ratio of a commercial loan usually falls in the range of 65-80%. This is different from a residential loan, which can be as high as 100%.
The main difference is that a commercial loan is only available to a business entity with a good track record and credit rating. If you’re trying to receive a commercial property loan, you’ll need to prove your credit history and that you do not have any recent defaults on your record.
When looking for a commercial property loan, it’s important to consider a variety of factors to ensure that you get the best loan for your needs. Here are a few things to look for:
By considering these factors, you can find a commercial property loan that meets your individual needs and goals. It’s also important to work with a reputable lender who can help guide you through the process and answer any questions you may have.
The decision to use a mortgage broker over a bank isn’t always an easy one, but the benefits are clear.
Mortgage brokers like Fox Home Loans help you understand the process of acquiring the mortgage by breaking down the documents and explaining the factors that will impact your acceptance.
Banks tend to send you a list of documents and utilise more of an automated approach only until they’ve realised you qualify. Only then will someone actually reach out to you.
Brokers also have access to more lenders since their process isn’t as one-dimensional. Brokers know which mortgage companies can give businesses in certain situations the highest chance of approval.
In the end, all of these factors combined will result in you paying fewer fees on your commercial property loan. This is due to the fact that the mortgage broker doesn’t work for the lender, so they are able to waive specific fees if they think it will get the deal done.
Home loan pre-approval is a process by which a lender reviews your financial and credit history to determine how much money they would be willing to lend you for a home purchase. Pre-approval is not a guarantee that you will receive a loan, but it does provide an indication of how much you can borrow and the terms of the loan.
To obtain pre-approval, you typically need to provide the lender with information about your income, assets, and debts, as well as your credit score. The lender will use this information to assess your creditworthiness and calculate how much they are willing to lend you.
The pre-approval process typically takes a few days to a week, depending on the lender and the complexity of your financial situation. Once you receive pre-approval, you can start shopping for homes with the confidence of knowing how much you can afford to borrow.
Enquire for Pre ApprovalA first home buyer loan is a type of home loan specifically designed for individuals who are purchasing their first home. These loans typically have features that are intended to help first-time buyers enter the property market, such as lower deposit requirements, reduced or waived fees, and government incentives.
It’s important to do your research and compare the features and costs of different loans to find the one that best suits your individual needs and financial situation. Or leave it to the experts at Fox Home Loans. We’re here to help first home buyers navigate the complex road to owning their first home.
Enquire for your First Home LoanHome loan refinance is the process of replacing an existing home loan with a new loan from a different lender or with a different loan product from the same lender. The primary purpose of refinancing a home loan is usually to obtain a better interest rate or to access different loan features or benefits.
When you refinance a home loan, you essentially pay off the existing loan with a new loan, and the terms and conditions of the new loan may differ from those of the old loan. For example, you may be able to obtain a lower interest rate, switch from a variable rate to a fixed rate or vice versa, or access features such as offset accounts or redraw facilities.
Refinance your Home LoanBefore you start the process of switching home loans, it’s important to consider why you want to make the switch. Do you want to lower your interest rate, access different loan features, or consolidate debt? Understanding your reasons for switching can help you choose the right loan product and lender.
It’s important to note that switching home loans can be a complex process, and it may be helpful to seek advice from a mortgage broker like Fox Home Loans to ensure that you are making the right decision for your individual circumstances.
Switch Home LoansAn investment property loan is a type of home loan designed specifically for individuals who are looking to purchase a property for investment purposes rather than to live in themselves. These loans are typically used to purchase a property that will be rented out, with the rental income used to help repay the loan.
It’s important to carefully consider the costs and risks associated with investing in property and to do your research to find the right investment property loan for your needs. A financial advisor or mortgage broker may be able to provide guidance and advice to help you make informed decisions about your investment strategy.
Enquire for an Investment Property LoanA renovation home loan, also known as a home renovation loan or a home improvement loan, is a type of home loan that is specifically designed for borrowers who want to renovate or improve their existing home. These loans can provide funding to cover the cost of renovations or improvements, which can be a more affordable way to upgrade a home than selling and buying a new property.
If you are considering a renovation home loan, it’s important to have a clear understanding of your renovation plans and budget, and to work with a reputable lender or mortgage broker who can help you find the right loan product for your needs.
Enquire for a Renovation Loan
Work out how much you can borrow based on your income and expenses
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Work out how much it could cost you to purchase a property
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Enter some basic details in our simple online form.
Discuss your commercial loan preferences and application information.
Your Lending Specialist will discuss all details of your commercial property pre-approval.
With our technology, you can simply sign your loan documents electronically.
Once settlement occurs, you'll be able to move forward with your commercial venture.
Enter some basic details in our simple online form.
Discuss your commercial loan preferences and application information.
Your Lending Specialist will discuss all details of your commercial property pre-approval.
With our technology, you can simply sign your loan documents electronically.
Once settlement occurs, you'll be able to move forward with your commercial venture.
Enter some basic details in our simple online form.
Discuss your commercial loan preferences and application information.
Your Lending Specialist will discuss all details of your commercial property pre-approval.
With our technology, you can simply sign your loan documents electronically.
Once settlement occurs, you'll be able to move forward with your commercial venture.
as a Financial Services Group helping customers Australia wide
of processed applications for everyday Australians and SME businesses
customers provided with genuine, efficient service
Stamp duty is a tax that we pay when we buy a house and is payable when the home contract becomes unconditional. The stamp duty amount that you are required to pay is different in each Australian State. Note that stamp duty is an overhead fee and cannot be included in your home loan (stamp duty is not included in the Loan-To-Value Ratio calculation). Call our Home Loan Specialists on 1300 665 906 today to learn more about home loans as well as applicable stamp duties, fees, charges and concessions in your area.
Refinancing is available to any property loan product pending terms and conditions. Considering a refinance each year gives you a clear indication as to where you can be saving money- whether it’s a lower interest rate, through a cashback offer, or a product with lower fees. Being open to all options your Lending Specialist will discuss is crucial for the investment property refinancing process. Options tailored to your profile mean that you are getting the most competitive products supplied to you upon review.
Rental income helps to strengthen a clients application by injecting surplus income on the profile. For example, if a joint application is made for an investment property; both applicants incomes will be included in addition to the calculated or current rental income figure. EG: Having 3 contributing sources of income on an application provides for a lower risk application.
Several genuine tax deductions can be made for an investment property. These can include maintenance costs (upkeep of the dwelling, gardening, plumbing etc.), any property agent fees, and land taxes. We have partners that can assist in discussing what you can and can’t claim. Just ask one of our friendly Lending Specialists to find out more.
The general rule for a property loan deposit is between 20-30% of the purchase price as a minimum. The higher the deposit, the lower the risk is for the lender to offer the loan product. Speaking to your Lending Specialist will give you a clear indication of how much deposit will be required to propose an offer for the investment property.
