Part Three ~ Financing your first home
Next, is the issue of financing your first home.
To find more information regarding financing your first time click here
1. How much can I borrow?
How much you borrow will vary depending on your circumstances, but one way to get a good ballpark figure is to use our borrowing calculator. One of the best ways you can find out exactly how much a lender is prepared to give you is with conditional approval for a loan.
2. How to apply and get approved for a home loan
The processes for application and approvals for home loans vary from lender to lender, so it will be a good idea to talk with your potential lenders or a mortgage broker to see which product suits you, whether you’re looking to just save money or seeking some flexibility in conditions as well.
3. Should you use a mortgage broker or a bank?
Mortgage brokers can take away a lot of the headaches associated with finding the best loan for you.
Mortgage brokers are in essence, independent financial advisers who take your specific circumstances and goals, then find the best deal in the lending market to suit you.
4. Hidden costs of buying a home
While the price of your property might look OK, remember there’s also a number of upfront costs that are not factored into that amount, but still need to be covered if you want it.
5. Common home loan mistakes to avoid
Getting finance is complicated and it’s easy to get caught. Here are some of the big mistakes you should try to avoid.
Click here to read the full six-part guide to buying your first home.