Checklist & Tips

Buying your first home can be daunting, and you are often looking for any advice you can get before taking the plunge. We have a series of checklists and tips that are a great place to start. Firstly, we can help you work out whether you are eligible for the First Home Owners Grant. Where you live and what kind of property you are looking to buy can determine whether you are eligible, and how much you are eligible for. We provide you with the resources to find out. And if you are at the very start of the home buying process, we can give you a plan to help you buy a home in just five months. This plan can act as a checklist or a series of tips, it’s up to you. We also have a step-by-step guide  which provides some handy tips, tools and tricks to look out for when applying for your mortgage and buying your first home. These tips include everything from doing your pre-loan homework to purchasing your home.

When you are looking for a home loan, there can be a lot of mortgage types to choose from. Not only that, but there are a lot of individual features within home loans to consider. Our Home Loan Features Checklist can be a great place to start. Firstly, it lists all the different types of home loans Mortgage House offers, with a definition of each one. You can choose whether you like a certain loan, you need a certain type of loan, or it is not applicable to your needs. You can then make the same choices on a range of features included in Mortgage House loans. Importantly, definitions of each of these features appear next to them. Not only can this checklist give you an idea of what each of these features is, but you can use it to understand which features to look out for when you start looking for a loan.

When it comes down to applying for a loan, there are a lot of ducks you need to get in a row. There will be a number of items that the lender will ask you for, to determine how much you can borrow and assess your ability to make mortgage repayments. It can be a good idea to use our home loan documents checklist to make sure you have the documents ready to go. The first thing you will need is some proof of identification. You will need at least one form of ID, but it can be a good idea to have more than one just to be sure.

The next thing you could be asked for is your two most recent payslips, or a letter from your employer outlining how long you have been employed, your income and regular overtime and allowances. If you are self-employed or have any other type of income, it is important to provide evidence of that, and if you are buying an investment property, you may need to provide proof of rental income. From there it is important to outline all your expenses, perhaps using our Budget Planning Calculator. Next, it’s important to list your assets and liabilities. There are a number of other items on our checklist that you may need to consider, but once you have all the information at the ready, get in contact with our experienced lenders, and we will help you take the next step.