First home buyer? We’re here to help!
Buying your first home is a stressful, confusing process; and probably the biggest financial commitment you’ll ever make. That’s where an experienced first home mortgage broker comes in handy.
We take the time to get to know you, your situation and your goals to ensure we get the best outcome.
We have helped self-employed and people with low deposits to get finance – helping to present the proposal to give the best chance to get approved.
There are recent changes to the rules for using kiwisaver as part (or all of) of your deposit. Let us help you navigate this process successfully.
What’s important is not just getting the best deal on interest rates and fees – it is about getting a home loan that is right for you and will help you get out debt faster
We take time to understand your needs, financial situation and goals to make sure you get the best solution.
Because we act for you (not the banks) we can negotiate terms and structure your loan so that you potentially save thousands of dollars over the lifetime of the loan.
If you want to get the right home loan use our online application now.
How Much Will You Be Able To Borrow?
How much you can borrow is based on your income and expenses. However, some lenders may lend you a lot more than another on the same day, in exactly the same circumstances.
Please don’t assume just because one bank says no (even is you’ve been with them for years), that you won’t be able to get a loan from someone else.
You may also be surprised at the difference between how much the bank says you can afford and what is actually possible.
Use our knowledge and experience to open the doors of possibility
Low Deposit Home Loans
We know how tough it is to get into your first home.
Recent changes have forced the mainstream banks to restrict the number of loans they approve to people borrowing over 80% against a property.
The good news is that some banks are now going up to 90% again and there are other lenders – outside of the main banks – who will still go up to 90%. And there are some creative ideas we have for getting approved above 90%.
Often you will get one chance to get it right when applying for lending over 80%. Let us help you put your best foot forward.
Lending a helping hand to family members
For many, entering the property market can seem like a daunting – and at times unachievable – goal. If you know someone who is feeling like buying a home is out of their reach, then using a guarantor on their home loan could be an option.
With rising house prices, saving a deposit is getting harder but with a guarantor loan your family and friends could achieve their goal of homeownership sooner.
A guarantor is someone who provides extra security by ‘guaranteeing’ a portion of a loan – usually the deposit. The guarantor can use the equity in their existing property as a guarantee, rather than using their savings upfront.
Who qualifies as a guarantor?
While it may vary between lenders, a guarantor is usually an immediate family member and can include:
- Parents and parents-in-law
- Spouse and de-facto spouse
- Siblings – brother, sister and brother-in-law, sister-in-law
- Legally appointed guardian
When is using a guarantor suitable?
If a borrower doesn’t have a big enough deposit saved
What are the benefits of going guarantor?
- Buying a new home sooner
- Saving on extra interest charged for low deposit home loans
- Potential to borrow more funds than may have been possible otherwise
- Eliminate the need to pay for Lender’s Mortgage Insurance
Remember both borrower and guarantor must provide information about income and any current debts. Importantly, it’s recommended that independent legal advice is sought by both borrower and guarantor.
There are many options out there that specifically support guarantor loans. Each lender and every loan product will be different so it’s important to do your research and find the right deal to suit the needs of both borrower and their family guarantor
Please contact Stephen on 09 3774433 to discuss how he may able to assist you
For a no obligation chat please contact us.