Ensure a smooth home loan process

I think we can safely assume that the home loan process is not one that many people go through all that often.  It can therefore sometimes present as somewhat confusing. 

As mortgages are an intrinsic part of buying property, and as a real estate company with a mortgage broking arm (CENTURY 21 Home Loans), my colleagues and I at CENTURY 21 Australia see a large number of people taking out housing finance and try to support our clients wherever possible. 

To this end, a recent story in the August 2011 edition of Your Investment Property magazine entitled ‘Top tips to avoid making embarrassing mortgage mistakes’, provides helpful advice to mortgage seekers. 

The magazine identifies several ‘rookie’ mortgage mistakes to steer clear of.  These include:
• Aiming for a mortgage that is too large;
• Signing up to mortgages with discounted honeymoon rates which can jump to much more expensive rates once the introductory period has finished;
• Not factoring the potential for interest rate increases into your budget;
• Taking advantage of ‘rock-bottom’ interest rates without considering the other features of the loan;
• Not doing enough research about available lenders and options.

Essentially, when obtaining housing finance one of the best ways to ensure that you secure the best deal for your personal situation is to conduct the necessary research about all options available to you and to have a good understanding about your requirements and what you can afford. 

Having this awareness should help you to avoid making the costly mistakes outlined in Your Investment Property magazine and to achieve a mortgage that allows you to purchase a property within your budget.    

Posted by Charles Tarbey on 26/07/2011 at 9:15 AM | Categories:

3 Comments

chloe brock

chloe brock wrote on 02/08/2011 3:39 PM

Thanks for sharing this information, it's really a headache when you process a home loan especially to those are starters in buying a property.
casino en ligne

casino en ligne wrote on 30/09/2011 11:40 PM

Amazing post , I love the style of your articles .
Home Loan Banks

Home Loan Banks wrote on 29/08/2012 8:29 PM

The steps given here ensure a smooth home loan process so you can have the facility without any hassle

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