Tips for Getting a Home Loan

Tips for Getting a Home loan a home buyer, but have you done You may think you're ready to your homework? Do you know about credit score requirements? Are you familiar with the different mortgage options that could be available to you? Here are tips to help you out. www.lendingspecialists.com.au Proof of Income An a general rule, lenders like to see that your home loan repayments won't exceed 30% to 35% of your gross monthly income. Minimize Loan BANK Applications Keep your loan applications to a minimum. Previous loan knock backs can leave a mark on your credit history. Slash your debts Reduce your outstanding debts. This includes any credit card and/or car loan debt. Save Money A deposit will help you avoid paying mortgage insurance. Have a guarantor A guarantor, such as a parent, can financially support your loan application by securing it against their home. LENDING SPECIALISTS www.lendingspecialists.com.au Sources: https://www.aussie.com.au/content/dam/aussie/images/home-loans/fun-facts/aussie_home_loan_6_tips_infographic.jpg http://www.lendingspecialists.com.au/best-mortgage-interest-rates-types-of-mortgage-2/ Credits: piktochart.com