How to get lenders to fall in love with you
Lenders are in love with borrowers who show good financial habits as we know good habits are gold. And it’s never too late to start - I can help you get into a position where lenders consider you a possibility.
With that being said, how do you get lenders to love you in a hot property market?
Broadly speaking, home loans are most likely to be leant to borrowers who...
- Are able to make regular repayments
- Have assets to borrow against, like properties, vehicles, and even super
- Have few debts including credit cards, university fees, and other loans
- Have a deposit ready to go… the bigger the better
- Have chosen a property in a good location (not a risky region)
- Don’t have massive monthly expenses chewing up their income
- Have a good credit score (don’t know your score? I can get it for you
- Have proven they know how to budget
- Are working and likely to work for years to come, with a stable and predictable income*
- Are residents of Australia*
*This doesn’t mean to say you can’t get a loan easily through me as your broker, it just means we need to jump through a few additional hoops together!
What will you need to show lenders if you want a loan this month?
- Details of other loans, credit cards and debts
- A completed application form (I do this with you)
- Form of ID; passport, licence, letters - you know the drill
- Bank statements (ARGH!).Half a year’s worth! So let’s make them sparkle!
- Pay slips from work if you’re a staff member
- Tax returns from the last two years if you’re small business owners.
Let’s get you on the road to a loan. Get in touch.