Today’s borrowing tips explain the most important information First Time Property Buyers need to know, plus the top 3 questions they should ask their Mortgage Broker.
So if you’re a First time Property Buyer, before you meet your Mortgage Broker, you need to do some property research. This will give you an idea of the type of property you’d like to buy, and your property price range.
Once you have this picture of your ideal property, you should then ask your Mortgage Broker the following 3 questions.
The first questions you need to ask is, What is my borrowing capacity? This is easy for your Mortgage Broker to calculate for you, and they will need your salary before tax and details of any loans or credit cards you have.
Once you know your Borrowing Capacity, you next question is, How much savings do I need? And then, How do I avoid paying Lender’s Mortgage Insurance?
With over 20 years lending experience, I have a proven track record in helping first time property buyers.
So if you’re looking to buy your first property, then we should have a quick chat.