Tips to Help First-Time Buyers Get on the Property Ladder

Buying a house is a huge milestone in life, and it’s certainly not one which comes easy. Use these tips to help get yourself on the property ladder. 

Secure your job status  

Mortgage lenders love when first-time buyers can demonstrate that they are in steady employment. The majority of lenders like it if you can show that you have been with your current employer for a good period of time, usually a minimum of 6 months before you apply for a home loan online. This means that if you’re thinking of changing jobs, then consider waiting until you’ve got your mortgage sorted. 

Sort out your deposit 

The bigger your deposit is, the better your chances are of being accepted for a home loan. A bigger depot also enables you to get a better rate of mortgage. For many of us, it is difficult to raise enough money alone to buy our own property which is why pairing up with a close friend, family member or romantic partner is an effective way to raise enough deposit to be accepted for a home loan. 

Especially if you pair with someone who has a good credit history and earns more than you, you are more likely to be accepted for a home loan. 

Get a mortgage advisor

As a first-time buyer, it is essential that you receive expert advice to guide you through the home loan process. Mortgage advisors can help you figure out how much money you can afford to borrow as well as get you a great deal from the bank and the best structure for your mortgage. They can also help you to arrange First Home Grants and build reports, inspections and valuations. 

If you are looking for some help to buy your first home, then Simpler can help you apply for a home loan online. Make your journey to homeownership as seamless as possible through our advice on different properties, and assistance with getting you the best possible deal on your mortgage. Get effective mortgage advice from us, then apply for a home loan online with ease. Call us on 03-366 6846 or email us at adviser@simpler.co.nz.

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