Buying your first home is a pretty exciting milestone in life. It’s usually something you’ve saved for and worked towards for ages – sometimes years!
You’ve often made sacrifices to cut back on your spending, go on fewer holidays, skip expensive nights out. You’ve had a goal and a purpose and you’re now at the point where you have a deposit saved that will buy you a home in the price range you can afford. So, what’s next?
Talk to me or your favourite mortgage broker to arrange pre-approval for your home loan.
We’ll take a look at what you earn, what you have saved, your debt and assets. From these figures, we can calculate your borrowing capacity and talk to you about the features and benefits available to you in different types of loans and from different lenders.
Once you know your options, you’re in a great position to make a decision – on both the home you’re going to buy and the home loan that best suits your circumstances today and for the next couple of years.
Ask your broker to arrange pre-approval for your mortgage and start your house hunt.
Make a list of all your “must-haves” as well as your “nice to haves” and see what you can find in your price point.
When you find the right property and your pre-approval is in place, you can start to confidently negotiate. Letting the agent know that you have pre-approval will tell them that you’re serious and ready to buy. This could put you ahead of any competitive bidders who don’t have finance organised.
It’s important to note that pre-approval isn’t the same as having finance secured. You still need to go through the application process – but if everything checks out in the application the same as it does in the pre-approval and the lending market stays the same, there should be no trouble.
If you’re ready to take action on making your home ownership dreams come true, talk to your mortgage broker today.
I love nothing more than helping first home buyers achieve their goals, so please get in touch if I can help.
Good luck and happy shopping!