First home buyer | Mortgage broker Landsdale, Yanchep, Hillary’s & surrounds
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Buying your first home
There aren’t many things in life that are more exciting than buying your first home, especially if you’ve been scrimping and saving up for a long time in preparation. It can also be daunting, with many unfamiliar steps and processes to undertake. Fortunately, with Beulah Kufa as your Mortgage Choice broker in the Yanchep area, you are in good hands. Beulah will take care to answer your questions clearly, without any tricky technical jargon.
As a first home buyer, you can rely on Beulah to
- Act with your best interests in mind
- Support you all the way from pre-approval to settlement
- Give transparent, practical advice
- Assess your finances honestly
- Help you make informed decisions about your home loan
As well as this, Beulah will find you the right loan from a broad selection of lenders, and complete all of your application paperwork. All of your time and mental energy can be saved for moving house, and Beulah will do the hard work for you. Best of all, these services are provided to you absolutely free of charge!
Your borrowing power as a first-time home buyer
When you are buying a home, your lender will want to ensure that you are capable of paying back the loan. The amount you are able to repay is called your borrowing power. This is calculated based on your income and financial commitments. Try out our free online calculator to get an idea of your borrowing power!
Your loan to value ratio (LVR) is also an important factor in how much you will be able to borrow. This is based on the value of the property you are buying and the size of your deposit. When your LVR is higher than 80% - if your deposit is less than 20%, in other words - lenders will usually require you to take out lenders mortgage insurance (LMI) with your loan. Ideally, this is a cost you would want to avoid, so you should aim to increase your deposit or search for a slightly cheaper property. Want to know your LVR? Use our simple calculator!
Resources for first home buyers
If you’re buying your first home, our handy guide will be invaluable in helping you through the process.
Beulah Kufa is here to help you buy your first home. Get in touch on 097644 to start your journey
Beulah can also assist you with:
