What Hidden Costs Do You Still Pay When Using a Government Scheme?
Government schemes like the First Home Guarantee and the First Home Owner Grant are genuinely game-changing for eligible buyers. But here is the...
Every lender wants to minimise their risk, which means they’re going to take a close look at your finances when you apply for a loan.
Increase your chances of qualification by following these tips:
1 – Make Sure It’s Genuine Savings
Lenders want to see that you’ve saved your deposit yourself.
They will look at your last three to six months of savings. If yours don’t show consistent saving towards the deposit, you may be in trouble… Unless you’re renting right now.
We have access to lenders who consider your rent payments as part of your savings!
2 – Clean Up Your Spending
One of our clients was applying for a loan when his account showed a weekly expense of $25. It was for a weekly lunch for him and his partner.
This shows how much detail lenders go into when looking at your expenses.
3 – Check Your Credit File
Your credit score has a huge impact on your chances of getting approved. Every lender looks at it, which means you need to know what your credit file looks like.
Investors Choice Mortgages can help you with your loan, finance, tools and resources to suit your strategy. Feel free to book a time to talk with one of our mortgage broker experts https://investorschoice.com.au/bookatime
Government schemes like the First Home Guarantee and the First Home Owner Grant are genuinely game-changing for eligible buyers. But here is the...
Disclaimer: These are generated via AI – please note that you need to do your own due diligence and read the report yourself to make your own...