6 tips for first home buyers applying for a mortgage

The below article from realestate.com sets out the 6 tips for first home buyers applying for a mortgage which they say are:

• Understand what you can borrow;
• Save what you can to reduce your mortgage;
• Take advantage of first home buyer payments and subsidies;
• Consider getting insurance or help;
• Think about using mortgage broker;
• Get preapproved;
• Be confident.

These are all great tips and most of them apply equally to anyone applying for a home loan.

The other one I would add is to make an appointment to speak to a Solicitor before putting in an offer.  This can clarify any issues that you might have and could potentially save money down the track.

By speaking to your mortgage broker or bank and you Solicitor early this should give you the best advice that you need so that you can act quickly when you find that property that you love and also be in the best possible position to actually buy that property.

6 tips for first home buyers applying for a mortgage - Home Loans - realestate.com.au