Getting your home loan sorted out early in the piece can ensure you are in the best possible position to negotiate for your new home, on your terms. And while the home loan application process may seem daunting, with the help of an experienced Mortgage Broker it is often simpler than you think. Best of all, the bank pay me for my service so it is of no cost to you.
I have access to over 30 major banks and lending institutions. With this array of resources at my fingertips, I can help take the hassle out of finding your next loan.
Home Loan Deposits
These days, most banks and lenders require you to contribute a minimum of 5 per cent of the property value. You may be able to fund your deposit from a range of sources, including genuine savings, tax refunds, monetary gifts, first home owner incentives or equity in your existing property.
An alternative to cash savings is through the use of family equity, also known as a limited guarantor loan. The most common form of family equity is where a family member offers their existing property as security for a portion of your home loan, generally around 20 per cent.
Home Loan Pre-approval
Getting pre-approved is a great way to ensure you know exactly how much you can borrow and afford to pay even before you start looking for a property. This can also give you a competitive edge over other interested buyers when it comes to negotiating a price.