Fast Tips When Applying For A Home Loan!

Bree Jones • Nov 24, 2022

Grab a coffee and sit down to read these great tips, which, if implemented, will have you prepared and in the best position to apply for a home loan.


We have made this easy to follow, and you can start working away at them now. If you have any questions, reach out to one of our team.


Share this with a friend or family member you think could also benefit from this post!


Let's get started!


Honesty Is The Best Policy!


That's right, while we hope you are honest in your everyday life when it comes to applying for a home loan, you must be crystal clear and honest, especially when it comes to these points;


Honesty Tips


  • Be honest with us; knowing the complete circumstance from the beginning is easier. We can work then on finding the right solution for you and your family.
  • Be honest about your relationship and family status.
  • Be honest when declaring your earnings.
  • Be honest when it comes to declaring earnings etc., to Centrelink; that way, your families tax benefits will align as they should.,


Everyone has different circumstances and challenges, and we will always do everything to help you. We need you to be upfront from the beginning so we can work our magic! 


Let's get into some Do's & Don'ts


Do’s


Start getting your paperwork ready! The more organised, the better when it comes to applying for loans. Start to gather your ID, recent payslips and bank statements.


Do have a separate bank account for savings. Have an everyday account you live out of, and then keep a separate savings account. 


Do you know your employment status? Are you full-time, casual or part-time?

If unsure, speak to your employer and refer to your contract.


Do monitor your living expenses. 


There can be some hesitation when people hear the words' budgeting' and 'money tracking'. These actiosn are not scary; instead, you can feel empowered by sitting down and determining exactly where your money is going and how much it costs to live your lifestyle. Also, where can you cut down, and what are the necessities?


Show consistent savings patterns; when you have your expenses clearly defined, you can see how you can consistently save! 



Dont's


Don't have multiple credit cards! This a reminder that the banks will consider your card limit, not how much you owe. 


Don't apply for Zip pay or After pay


Don't cash advance of your credit card.


Don't hesitate to ask us any questions! 



In Summary


We have covered that honesty is the best policy, do more of the 'Do's' and less of the 'Don'ts', and you will be in a great position to take the leap and apply for a home loan!


We have a range of blogs here that you can refer to for more value-packed information.


Remember, we are here to help you; please call us at (03) 8657 8664 if you have any questions or would like to make an appointment to see us!

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