With booming real estate markets, greater lending competition and high consumer confidence, there has never been a better time to purchase your dream home and, by doing your homework before taking on a mortgage, you can get a better value investment for your dollar.
There are a few secrets and simple tips buyers should know before shopping for a home loan mortgage. The first, and most important of these, is to do your homework. Home loans vary greatly and it’s important you find the one that best suits your situation.
With the rapid growth of online private investors, even people who the banks and major mortgage lenders won’t deal with can usually qualify for a home loan.
Potential purchasers should study their local real estate market to get a feel for what suburbs offer the best value and investment return potential, they type of property you are seeking, and how long you plan to live there for.
Once you have a good idea of the property you are seeking and its price, work out your budget, list all your assets, and decide how much you can afford in repayments.
If you qualify for a loan from a bank or major mortgage lender, it is...