ORANGE is one of the least expensive suburbs in NSW. Median home prices are $366,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $329,850 home loan.
Between 2005 and 2011 the population of ORANGE, 2800 grew an average of 6583.80 people each year. This figure of 7178.00% per annum means ORANGE is one of the fastest growing suburbs in NSW.
In NSW the median mortgage repayment has increased from $1,403 to $1,783 which is $158 more than the median monthly home loan repayment in ORANGE, NSW.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ORANGE, 2800 should have seen some difference. While the latest census median annual household figure income is now $59,592, it was $44,434 back in 2006, which is a net increase of $15,158 Subtract from that the median mortgage repayment increase of $4,944 and a mortgage broker’s clients could be up to $10,214 better off each year even without factoring in mortgage rate cuts.