Help With Finance
Buying or building a home is both an exciting and nerve-wracking time. It is a major decision that takes planning and research, and careful budgeting. Are you ready?
Here are some tips to help you get started.
- Speak to someone regarding finance before looking. It is important to know exactly where you stand financially before even looking at purchasing a home and also knowing what you can afford.
- Stability. Lenders pay particular attention to first home buyers or builders. One of the aspects that lenders pay particular attention to is an applicant’s stability, in all areas including their employment, their savings, even their living arrangements. A mortgage broker can assist in identifying potential issues and can advise on how to best avoid these becoming an issue at a later date.
- Savings & deposit. Lenders will generally require evidence of a savings history, at least 5% of the purchase price, and in most cases these savings need to be shown over a period of 3 or even 6 months. The most important thing that lenders look for here is consistency- a small amount, frequently deposited is classified as a savings pattern. Lump sums deposited at inconsistent intervals do not meet genuine savings requirements, so try to avoid these.
Now to finding the perfect position for you to build! Remember to look within your means and don’t hesitate in contacting us Own-A-Home today for assistance with finding the perfect block.
Tasmanian Grants for First Home Builders
The Tasmanian Government currently have available a $20,000 grant for first home builders.
The grant applies to eligible applicants with building contracts for new homes contracted from 1 January 2016. For further term and conditions or to check your eligibility, please see http://www.sro.tas.gov.au/fhog.
If you need assistance with your home finance requirements contact Issy at Revolution Home Finance, freecall 1800 323 222.
Revolution Home Finance take care of all your first home buyer documentation and eliminate the stresses of trying to navigate your way through finding the most suitable loan to suit your needs. Life is busy enough, let us help you achieve your dream without all the unnecessary stress.