Finding and purchasing your first home can be stressful, especially when you don't know what's out there in terms of financing.
We've helped many people get into their first home using savings, KiwiSaver withdrawal, Welcome Home loans, HomeStart Grants and Guarantors, plus we'll work with you through the entire process, front to back.
We're able to order registered valuations through Property IQ on your behalf or access E-Valuations with help in gathering information and putting together an offer.
The one thing we want to make sure is that your mortgage is structured correctly right from the start, paying down as much as you can at closing. With the right education and loan structure, you'll be able to pay down the debt much faster than the normal 25 or 30 year term.
Five Steps for First Home Buyers
- The first thing you'll need to fill out is the Statement of Position Form, which provides us with financial details, including income, deposit source, debts and living expenses. It's helpful for us in finding the right loan for you and it also gives you the opportunity to work through your living costs to ensure that you're making the right choice. Please download it here.
- After we receive your Statement of Position, we start the background work for our initial consult. Being that everyone's financial picture and history are different, this will be customized to you and your needs. During the consult, we'll determine your current borrowing ability, how that relates to a new home, and what you can do to improve you chance of approval (if required). If everything looks good, we'll the start exploring the lenders who are suited to your situation.
- After your initial consult, it's time to apply for pre-approval. We'll work with you to gather the supporting information and documentation so that we can make an application on your behalf.
- Once you're pre-approved, you can start looking for your first home, making an offer if you find something that's suitable for you. With our E-Valuation reports, you'll have an inside look at the property, providing valuable insight into how much it's worth. We can also recommend professionals for assessing the suitability of the property and legal work. In the background, we'll be updating your loan offer so that it stays current. Once the loan is unconditional, we can present a plan with a recommended loan structure and show you how to repay it in the shortest possible timeframe, saving interest.
- The last step is an annual review process, where we make adjustments when your financial circumstances change, and celebrating with you as you pay down your mortgage faster!
To start the process, please schedule a quick Strategy Session with us today!