We take a look at what lenders are looking for when they examine your loan application, and how you can make yourself look great in their eyes.
While every lender will have their own specific lending criteria, all banks and private lenders will look for a few of the same things. Here's what to prepare for when you apply for a home loan.
Work out your budget and expenses to help you understand how much you can afford to spend on property
It's difficult to get approved for a home loan if you have bad credit, but there are some steps you can take to improve your chances.
Most banks will not lend you the entire value of a property when you purchase a home. You're usually going to need a deposit of at least 5% of the purchase price, but there are caveats to how much deposit you'll actually need.
A home loan application is a very important document on the road to home ownership. Here's some advice on how to knock it out of the park.
Buying a home requires the biggest financial commitment most people will ever make.
For most people, especially first-time home buyers, insurance on your home loan is a necessary evil when buying a home. It’s known as Lenders Mortgage Insurance, or LMI, and although you are the one who gets the insurance, it’s not to protect you; it’s there to protect the lender.