Following the lodgement of a home loan application, hopeful borrowers are often keen to know what will happen next and…
Getting a foot in the door of your dream home might be getting harder, but talking to a mortgage broker could get you the keys more quickly.
Purchasing a property in today’s housing market is not for the faint-hearted. Would-be homebuyers have only to turn on their TV – or check Facebook or Twitter – for the latest news informing them that their dream home is slipping further out of reach.
When you add in the challenge of sourcing the right loan, first homebuyers can be forgiven for thinking twice about taking that first step on the property ladder. But the truth is, it’s not quite as hard as you think.
Research has shown that mortgage brokers are helping buyers with over 50 percent of all new housing loans in Australia, and for good reason – buyers know that brokers can provide a level of advice that banks simply can’t.
Knowing the market is crucial, so do some research on the areas you are targeting, check out auction clearance rates and recent sales, as well as price trends in the area. We can help you by providing a depth property report at no cost to you. Contact us for the report. Once you are aware of what you are looking for and the approximate price, the next step is saving a deposit.
While some lenders will offer loans at 5% deposit if you have saved less than the usual 20 % deposit, being able to show a record of good saving habits will aid in getting your loan approved.
Then, when you talk to talk to us about applying for pre-approval on the right type of loan and we can go through if you can afford in terms of repayments.
Reduce your credit card limit.
Most people know that reducing their debts can increase their borrowing limit. But did you know that lowering your credit card limit can increase your borrowing capacity?
Lenders don’t like risk
In working out how much you can borrow, lenders determine the likelihood that you might default on the repayments. In performing this risk assessment, they look at a number of factors including your credit history and job security. But something else they consider is your credit card limit.
$225 million for better GPS technology to allow farmers to access precision agricultural technologies that allow them to more accurately sow seeds in between rows of harvested crops and manage the distribution of water, fertiliser and herbicides.
$51.3 million over four years to boost growth in Australia’s agriculture and food exports to secure Australia’s position as a world leading agriculture exporter and support agriculture and export jobs.
$140 million grant and $50 million loan for Western Australia’s Myalup-Wellington project.
$3.6 million over five years to extend the Indonesia-Australia Red Meat and Cattle Partnership to help support beef exports to Indonesia.
$6.3 million to extend funding to give farmers access to a broader range of agricultural and veterinary chemicals. This is to support collaboration between growers, chemical manufacturers and rural research and development corporations.