Options for financing your new home

Investigating Your New Home Financing Options

So it’s time to finance your new home – this is a massive step in your life so make sure you’ve done your research beforehand to see what your options are for funding your house purchase in Australia!

Step 1: Figure out how much you can afford

You want to start searching for your new home, but where do you start? How do you know what kind of home you can afford? Before deciding on your dream home, it’s sensible to speak to a mortgage broker who can help workout what you can afford. Together with the help of their team, they can analyse your current financial situation and calculate your borrowing ability which will determine how much you’re able to borrow.

Step 2: Understanding your financials

Being aware and understanding your financial situation is important to ensure that you’re able to pay off your mortgage each month, along with other expenses that may occur. Brokers have access to a large range of lenders, and they can help you borrow up to 99.9% of a property value, including lenders mortgage insurance. They can also assist you to get a pre-approval, where your loan has been approved subject to a few conditions. This looks favourably to realtors and home sellers, while also giving you the reassurance of your budgets for houses.

Step 3: Making the Right Decision for You

Choosing your new home doesn’t have to be a complicated decision. Brokers have access to over 50 lenders and are there to support you at each step of the way. With the help of a broker by your side, you can have each step of the home loan process clearly explained to you and your questions answered any time.

Want to get started on your home buying journey? Get in touch with our team today, who can help you navigate through the process!

Credit: Active Pipe