Buying your first investment property may seem just as confusing as your first purchase. It is not exactly like riding a bike so it is important that you are choosing a Mortgage Broker that can re-educate and guide you through the process!
When purchasing your first investment property it is strongly recommended you seek approval through a qualified Mortgage Broker first. That way then you have a clear budget of what you can afford, and you are pre-approved with the bank of your choice that is right for you.
Some common questions to consider when you have made the decision to purchase your first home would be:
· Do you know what you can afford? Both lending and purchase price?
· Do you have any equity within your existing home you use leverage?
· Is the existing bank the best bank or what else is out there?
· Which structure is right for me?
· How long does my Pre-Approval last?
· How much deposit do I need? (cash deposit &/or Equity)
· How much cash &/or equity at settlement will I need? (funds to complete)
Your Dedicated Mortgage Broker will be able to walk you through this process and give you a clear concise budget and educate you around next steps.
For an obligation free chat please contact us today to get started!
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