First Homebuyer

Discussion in 'Loans & Mortgage Brokers' started by Heyman_526, 24th Mar, 2020.

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  1. Heyman_526

    Heyman_526 Member

    Joined:
    23rd Jan, 2020
    Posts:
    18
    Location:
    South Australia
    Good afternoon ladies and gentlemen I was wondering if I can get some help please I am going to be purchasing my first home in the next few years as an investment and a rental. I'm watching a lot of YouTube videos to try and gain a better understanding. Most of the videos I have watched have similarities and from what I have gathered a common way of gaining a steady income is through refinancing to achieve what they say is finacial freedom. I have started researching this but I am still confused. What am I after? All Google was telling me was that the loan would get switched to the other company it says nothing about recieving any money? Do you even get money when refinancing? Does the house get used as the asset? If you get money for them is it the current home value or the ammount that you paid for it? Do you need to put down a deposit for refinance?

    The videos I've watched the people making them say they refince to get the next house none of these people are from Australia i don't know how it works here?

    If you do get money for refinancing how soon after you purchase the home initially can you refinance? Will they refinance if the value is the same?

    That is a lot of questions I apologize.

    Thank you all for your time