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Breaking Down Mortgage Jargon

Breaking down mortgage jargon

Episode 9April 19, 2022

John Ng is an experienced mortgage broker and owner of Money Jar Concept, a brokerage based in the inner west of Melbourne. John is passionate about supporting his community through providing ethical guidance on all things finance.

When buying your first home, the amount of new terms and phrases you encounter can be intimidating and feel impenetrable. In this episode, John discusses the main terms you’ll often hear banks or mortgage brokers use: concepts such as equity, genuine savings, lenders mortgage insurance, and loan-to-value ratio. He also provides his number one tip which he gleaned through his years’ of experience.

John Ng is an experienced mortgage broker and owner of Money Jar Concept, a brokerage based in the inner west of Melbourne. John is passionate about supporting his community through providing ethical guidance on all things finance.

When buying your first home, the amount of new terms and phrases you encounter can be intimidating and feel impenetrable. In this episode, John discusses the main terms you’ll often hear banks or mortgage brokers use: concepts such as equity, genuine savings, lenders mortgage insurance, and loan-to-value ratio. He also provides his number one tip which he gleaned through his years’ of experience.

Episode Outline

00:00Disclaimer 00:16Introduction 02:24Getting to know John Ng 04:46Approval in Principle (AIP) or Pre-approval 05:46Assets 07:24Basic Variable Rate 09:02What’s a Variable Rate? 09:40What’s a Fix Rate? 11:47Split Loans 12:52Benefit of a Split Loan 13:10Comparison Rate 15:13Break Cost 16:19Deposit 17:26Equity 18:47What can you do with equity?

Show notes

John Ng is an experienced mortgage broker and owner of Money Jar Concept, a brokerage based in the inner west of Melbourne. John is passionate about supporting his community through providing ethical guidance on all things finance.

When buying your first home, the amount of new terms and phrases you encounter can be intimidating and feel impenetrable. In this episode, John discusses the main terms you’ll often hear banks or mortgage brokers use: concepts such as equity, genuine savings, lenders mortgage insurance, and loan-to-value ratio. He also provides his number one tip which he gleaned through his years’ of experience.

Get in touch with John Ng

Owner and Finance Broker at Money Jar Concept
Website: www.moneyjarconcept.com.au
Email: johnng@moneyjarconcept.com.au
Mobile: 0481 579 828

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Breaking down mortgage jargon
Episode 9