Find your Loan then Find your Home

So you have started thinking it’s time to buy a new home. It’s a exciting time and a bright future but where to start and how to begin?

Now you that got the dream and the goal, we need to talk money. And I mean the loan. There is not one day that goes past where I do not hear these 5 words “ I have my pre-approval from the bank”. Really? Are you sure about that?

From my experience go check and check again. In the last 7 months a ”pre-approval from your lender” can give you a warm, fuzzy, happy feeling but beware there have been a large number of buyers who when they come up with right house after tramping around looking at the good, bad and ugly have fallen in love with it, negotiated it, lived through the stress of all that is involved in buying a home to then discover the lenders say sorry we changed our minds.

Why? do you ask? Simple. Banks have got tight. They have squeezed their belts to an extra notch, they are all looking 3 times at your application and heaven help you if you have left any spending money out of your household budget and this means pets included. No! you say! Absolutely YES I say!

Here are (my) “Kathryn” 10 tips help you get your loan:

1. Find a seriously sensible and smart and good communicator in a mortgage broker.
2. Pick the mortgage broker by asking for referrals.
3. I can suggest a couple you if you need help.
4. A good mortgage broker will be able to tell you pretty quickly if you have enough funds within hours of your filling out the forms.
5. Ask you broker which banks does he use.
6. Then ask your broker which he usually uses and why ( very important that)
7. It is quite comment o hear the words “yes I can et you the loan” down reply on it.
8. Deposit- this is the biggie. Start saving work on 30%. yes not 10% not 20% but 30%. you will thank me for it in the years to come. Especially when its Christmas and you are on holidays
9. When you get your “pre-approval “ and you have found the house and have started negotiation BEFORE you sign the contract and you will if your are determined, check with your broker and ask them to
   re-connect with the pre-approval lender.
10. Make sure you do tip #9

Good luck, go forth, shop around for the right mortgage broker and use a Buyers agent, we are on your side to seal the deal.

And the last word…. please any questions? You are very welcome to give us a shout, or a call or an email at Kathryn Hall Real Estate – 02 9918 9568 info@kathrynhallrealestate.com.au