Buying your first home can be daunting, especially the first time around! From sorting out your finances and getting pre-approval to wading through the legal language, there’s a lot to learn.
Luckily, you don’t need to go it alone. With buying a home being such a significant milestone, it makes sense to get help from the people who do this every day.
As a first-home buyer, recruiting a team of professionals to support you through the process will take a big weight off your shoulders – and might save you money in the long run too!
Choose the right experts who you can trust to handle the details and you’ll be well on your way to popping that champagne cork on settlement day. At AMP, we’ve got the expertise to guide you on the journey to bringing your real estate dream to life – we’re the first stop for your first home. To get started, we’ll take you through the pre-approval and mortgage process. Read on to find out more about who you’ll need to bring in to get the deal done.
What is pre-approval?
A home loan pre-approval is an agreement from the mortgage lender that you can borrow a certain amount of money. This comes with a list of conditions and you still have to make sure you meet certain home-lending criteria and other terms and conditions.
A pre-approval gives you more certainty about how much money you can spend on a property — which makes your search for your first home much easier! Your Adviser can help you get this.
Why use an Adviser to help with the pre-approval/mortgage process?
An Adviser can usually help by:
- Presenting the deal to ensure it has the best chance of getting approved – they know what lenders are looking for;
- Getting the best possible interest rates to reduce your repayments because who wants to pay more than they need to?;
- Recommending the right products for your needs to cover all your bases;
- Giving you advice about how to pay off the loan as quickly as possible;
- Helping you through the legal language, making sure you aren’t missing any important information like interest rate increases, fees and other conditions.
An Adviser can also guide you through getting the right insurance cover as a new homeowner.