Step-by-Step Guide to Home loan pre-approval

Before looking for your new home know how much you can borrow.

The damand for a home is high at the moment and will remain so for several years yet.

Before you start looking though it's best to know how much you can borrow so you don't look at homes outside your price range.

Also remember that you may have to pay up to 40% more than the asking price to get the home you want.

Those people who only want to buy in the 'in demand' subsurbs had better be well cashed up.

A better, and smarter, option is to buy in the suburb next door to the 'in demamd' suburb.

The prices are lower, the homes are often just as good, and the capital gain will track with the next-door subsurb as those who get priced out will opt for close to.

This article goes through the steps required to get pre-approval for your loan, it doesn't cost you anything, but will give you the confidence to make that buying decision.

Yahoo Finance - Business finance, stock market, quotes, news wrote:

For those new to the property market, it's common to feel a bit overwhelmed, confused and stressed out, especially given the fact it's one of life’s biggest investments.

Knowing where to start can be one of the biggest challenges, with most people believing that booking in for property inspections or searching online are the best ways.

Did you know it’s useless doing the above without a home loan pre-approval?

Why? Well it’s just like looking at a Gucci handbag without knowing you can realistically afford it; you’ll be left disappointed.

If you find that your aspirations don't match your finances, often the case, you may like to consider adding another income stream to your finances.

You can get more information at — Web Marketing Tips for the over 50s.  Of course the tips may be aimed at the over 50s, but they also apply to the under 50s.


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