Lenders are in love with borrowers who show good financial habits as we know good habits are gold. And it’s never too late to start – I can help you get into a position where lenders consider you a possibility.
With that being said, how do you get lenders to love you in a hot property market?
Broadly speaking, home loans are most likely to be leant to borrowers who…
- Are able to make regular repayments
- Have assets to borrow against, like properties, vehicles, and even super
- Have few debts including credit cards, university fees, and other loans
- Have a deposit ready to go… the bigger the better
- Have chosen a property in a good location (not a risky region)
- Don’t have massive monthly expenses chewing up their income
- Have a good credit score (don’t know your score? I can get it for you
- Have proven they know how to budget
- Are working and likely to work for years to come, with a stable and predictable income*
- Are residents of Australia*
*This doesn’t mean to say you can’t get a loan easily through me as your broker, it just means we need to jump through a few additional hoops together!
What will you need to show lenders if you want a loan this month?
- Details of other loans, credit cards and debts
- A completed application form (I do this with you)
- Form of ID; passport, licence, letters – you know the drill
- Bank statements (ARGH!).Half a year’s worth! So let’s make them sparkle!
- Pay slips from work if you’re a staff member
- Tax returns from the last two years if you’re small business owners.
Let’s get you on the road to a loan. Get in touch.
