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.
Learn from these most common Lenders mortgage insurance (LMI) missteps, and you won’t suffer the consequences that others have.
With my first home, I only saved 10% for the deposit and had a fairly large fee for Lenders mortgage insurance from my lender. Is there any way to avoid lenders mortgage insurance for my next home purchase?
If you wish to take out a home loan, but are over 50 years old, you may be required to provide more information about your future finances. It is no longer enough to have a steady career and a consistent income.