If you are interested in building a property portfolio, a mortgage broker can help you determine if you have enough equity in your current property to fast track your plans. Equity is the difference between the current value of your property and the amount you owe on your mortgage. If you have built up a significant amount of equity in your property, you may be able to use this equity to purchase an investment property without having to save up a large deposit.
A mortgage broker can help you assess your current equity position and determine how much you may be able to borrow to purchase an investment property. They can also help you work out your borrowing power by taking into account your income, expenses, and other financial commitments.
In addition, a mortgage broker can help you restructure your all your loans to ensure that you are in the best financial position and saving the most amount of money possible with all your properties. They can help you find loan products with lower interest rates and better terms, which can help you save money on interest payments over the life of your loan.
Overall, a mortgage broker can be an invaluable resource for anyone looking to build a property portfolio. They can help you assess your equity position, determine your borrowing power, and find the best loan products to suit your needs and goals. With their expertise and support, you can fast track your property portfolio and achieve your financial objectives.
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