Planning to buy your First (Dream) Home

When considering whether or not to purchase your first home you may have alot of questions, like where do I Start? , What do I need? A good place to start is with aMortgage Broker. This way you can learn if, or how much deposit you need, how much can you borrow. In the meeting with your Mortgage Broker you will have all the information you need, to get ready to purchase your first home. Your Mortgage Broker may even put together a plan, if you’re not quite ready to purchase your first home.

Below mention three basic Things banks and lenders require when financing your loan.

  • Your Job History and Income
  • Your Current Credit Commitments
  • Deposit

Once you are ready to consider pre approval home loan finance, some of the paperwork you may require to apply for a home loan is

  • Latest 1 to 4 payslips depending on the bank and the frequency of your pay.
  • Latest payment summary or group certificate may be required.
  • 3 to 6 months bank statements, where you deposit is held (if a deposit is required) Your passport and driver’s license (or other acceptable ID, both for the bank and for the first home buyers grant)
  • A copy of original bank statements for any other financial commitments you may have (like your latest credit card statement)
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