Buying your own home is one of the most important financial decisions you’ll ever make. Here are some important things to consider before applying for a home loan.
Before you start looking for a property to buy, you need to get your finances in order. Remember to consider extra costs like stamp duty, legal fees, lenders’ mortgage insurance, land and water rates, home and contents insurance and repairs when working out if you can afford a home loan.
One you have a mortgage you’ll need to keep on top of your repayments and troubleshoot any problems:
See making repayments for tips on how to stay on track or pay off your mortgage early.
See problems paying your mortgage for guidance on how to sort out mortgage debt issues.
Find out how to complain if something goes wrong with your loan and you can’t resolve the problem with your lender.