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Owner Occupied Home Loan

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An owner-occupied loan is a mortgage that is taken out by a borrower who intends to live in the property as their primary residence. Owner-occupied loans typically have lower interest rates than investment properties and are easier to qualify for. An owner-occupied home loan can be used to purchase an existing home, build a new property or fund renovations.

Owner-occupied loans also typically offer specific features and benefits tailored to homeowners who will occupy the property as their primary residence, like an offset account or having the flexibility to make additional monthly payments.

Homeownership is a big step, and it can be difficult to come up with the necessary deposit and settlement costs. We’ve seen clients take years to save for an owner-occupied home loan deposit for their dream home, so it’s only fair for them to have access to the best owner-occupied loans the market has to offer. That’s where Capta Financial comes in — we specialise in understanding your needs so that we can help you find the best owner-occupied loan based on your budget and time frame.

Capta Financial has access to some of the most competitive and market-leading owner-occupied home loans. We work with a wide pool of lenders, from major banks to credit unions and other small lenders, so we’re confident we can find the right owner-occupied loan for you.

Learn more about owner-occupied home loans and book an appointment with Capta Financial today to get started.

What should you keep in mind when getting an owner-occupied loan

While an owner-occupied loan can be a great way to finance a home purchase, it is important to ensure that you are actually planning to live on the property. This means that you must use the home as your primary residence and cannot rent it out to tenants for a specified period. If you do intend to rent it out, an alternative to consider is an investment property loan, which can be used to purchase a rental property.

It’s also worth noting that lenders can vary, and specific loan features may not apply to every owner-occupied loan. If you want to take advantage of a specific feature typically offered with owner-occupied loans or want to use a guarantor, inform our team, and we’ll work on sourcing the right solution.

How do you take out an owner-occupied loan?

When you are ready to apply for an owner-occupied loan, you will need to provide documentation such as bank statements, payslips and tax returns to prove your income and creditworthiness. At Capta Financial, we can assist you with this process and ensure everything is in order.

How can I save money on my owner-occupied loan?

We make sure to find the lender most suitable to your needs and can help you set up an offset account so that you can pay less interest during the life of the loan. You should also consider making more frequent payments on your loan and choose a shorter repayment period. This will help you pay it off faster and save you money in the long run.

It is also worth considering opening an offset account. It operates similar to a savings account, where the balance is used to offset your loan’s balance, letting you pay less interest during the life of the loan. 

Can an owner-occupied loan be used for an investment property?

You cannot take out an owner-occupied loan for an investment property — it is only meant for borrowers who will live in the property they purchase. If you are buying a home for investment purposes, you will need an investment purpose.

While you may face high interest rates as an investor, borrowers who lie about the purpose of their property purchase can incur serious consequences. Not only may a lender deny your application for an owner-occupied loan, but it could also mean a black mark on your credit report.

Explore your owner-occupied loan options with Capta Financial todayIf you’re looking to buy a new home, one of the first things you’ll need to do is secure financing. But with so many different types of lenders available, it can be tough to know where to start. That’s where Capta Financial comes in — we’re here to help you every step of the way, from pre-approval to settlement. Contact us today to learn more about our range of services!

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