When assessing your home loan application, a lender will take into account many of the debts you already owe. But what types of debt affect your borrowing capacity and your ability to get a mortgage?
When you’re buying your first home, applying for a home loan may seem like a daunting prospect. But it really doesn’t have to be that way. We show you what you need to know about finding and, most importantly, securing your first home loan so that you can get onto the property ladder as soon as possible.
Want to buy your first home as soon as you can? We explore 10 tips first home buyers can take advantage of to get into the property market faster.
1) Buy off the plan
As a first home buyer, purchasing a property off the plan can bring two distinct advantages.
The federal government has announced a scheme to assist first home buyers meet lender’s loan deposits. The First Home Loan Deposit Scheme (FHLDS) will guarantee mortgages for first home buyers who have only saved a 5% deposit, effectively helping them buy sooner without paying lenders mortgage insurance premiums.
Let’s look at it realistically. Australia is definitely the lucky country when it comes to climate and there are super easy ways to keep that summer feeling alive at home!
General management of household clutter is a common issue in most Australian homes. Piles of stuff just seem to appear out of nowhere – and keep growing.
You spend the weekend sorting the house out and then by Tuesday it feels as if your possessions have spontaneously multiplied.
Mess costs you time and money – not to mention the stress of living with the constant clutter on a day-to-day basis.
By getting organised and on top of the clutter by doing a little each day, you’ll spend less time on chores because there will be less to clean, less to maintain and less to tidy.
There’s no time more exciting than having a baby. Well, when Maccas does 24 nuggets for $9.95 that’s pretty exhilarating. But all in all, the baby wins. There’s nothing better.
Owning your own home is the great Australian dream, yet for many these days that’s exactly what it can feel like – a dream. But no matter where you are in Australia, buying a home to live in or as an investment isn’t impossible.
Don’t let the change in season drive you indoors. Instead, create your own outdoor autumn haven with warmth, style and comfort.
Warm it up
Create cosiness outside by using blankets, chairs and cushions in key entertaining areas – just as you would indoors.