Take The Mystery Out Of Getting A Home Loan
For many first home buyers it can seem that there are as many unknown factors involved in getting a home loan as there are known ones.
Economic trends, market indicators and the varying advice of what seems like a never-ending procession of experts might make it seem like you need a crystal ball to work it all out.
Luckily, this needn’t be so - by focusing on the most important things one at a time you can navigate the waters of home lending with confidence.
Start your home loan odyssey by asking yourself how much can I borrow?
Knowing the answer to this question will not only give you an idea of which houses you can afford, but it will also let you start planning a mortgage repayment schedule.
Using your current income and expenses, you can use an online mortgage calculator to work out your borrowing capacity.
This can vary between lenders and according to your financial position, but it will give you a good idea of where you stand.
The next step is to seek the advice of a mortgage broker, who will give you a much more detailed picture of your lending options. They can then find a loan product tailored for your circumstances.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.