Today’s email question is from Rick and Rachel in Wembley. Rick and Rachel wrote, We are first home buyers, and would like to know what type of things and questions to expect if we make an appointment to see you? We are not sure if we qualify for a home loan, and would like some advice.
These are good questions and concerns. Firstly we look at you concerns, the fact that you are not sure if you qualify for a home loan. My role as a mortgage broker is to look at your current financial situation, and give you the mortgage options that are available to you. If you are not quite ready for to apply for a home loan, then we can work out a plan, and let you know what you need to purchase your home. You may be ready to apply for a mortgage now, or it may be awhile before you are ready to purchase your home. The good thing about getting some information from a qualified mortgage broker, is that you can set a plan, know what’s needed, and work towards purchasing your home.
My service as a mortgage broker wont cost you money, as I am paid commission by the banks or lenders. Even if you are not ready to apply for a home loan, the information I give you costs nothing, and is obligation free. Of course I would like help you with your home loan when you are ready, but that will be your choice.
Information and research is everything, so if you are thinking about purchasing your first home, second home, etc, some good information will help you in your decision of what you would like to do. Using my services as a mortgage broker, I will take care of things like the first home owners grant, REBA grant, taking out the worry and using my experience to help you purchase your home.
In the mortgage interview I will ask many questions. Some questions will be to assess what you can borrow, some will be asking what your medium to longer term goals are. Lets look at some of the questions that I may ask you in your mortgage interview.
What You Can Borrow-
What is your current income (I will ask to look at your latest 2 payslips)
How long have you been in your current job for.
How much deposit do you have (you may not need a deposit if you are using a guarantor for your home loan)
What are your credit card limits?
Do have any other credit facilities (like a car loan), how much do you owe, what are your monthly repayments?
Other questions I will ask may have to do with your future goals. These questions are to look at a how to structure your home loan, to best suit your needs. You may prefer a variable rate home loan, fixed rate home loan, or a split home loan. I will also ask questions like, what are your longer-term plans with the property you are thinking of purchasing? Do you think it may become an investment property in the future? Do you want to pay your home loan off quicker? These types of questions will help deciding on what maybe the best home loan options for you.
My goal as your mortgage broker is to develop a long-term relationship, to help answer your finance needs, now and in the future. My customers find it very useful to have mortgage finance advice, when they need it. To run their scenarios by me, to see what they may be able to do. I work 7 days a week, and I aim to excel in customer service, to deliver the best experience I can for my customers.
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