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Smart support to get you home loan ready
You’re buying a new home! Exciting! I definitely found that to be the case when buying my own home and dreaming about what life in it could look like.
But however exciting it is to start scrolling the real estate apps, it’s important to take a step back and look at your finances in partnership with someone who knows what lenders are looking for.
Why? Because putting yourself in a great spot with some expert advice and support before you apply for a loan can put you in a stronger spot to secure a loan. That’s something Sky Blue Finance has been helping buyers with for over 10 years.
With that in mind, here are five things we can look at together before you start your home buying journey.
• Spending habits
Lenders look at spending habits, so we’ll start by getting a clear picture of your expenses. That’s things like rent and bills, but also includes everyday spending.
Together, we’ll go through your last three months of bank statements to help give you a clear picture of where your money is going.
And don’t worry – this isn’t about cutting out every little pleasure; it’s about empowerment. Knowing what you can afford and where you might be able to cut back a little shows prospective lenders you’re serious about saving.
• Loans and debt
Personal loans, car loans, credit cards or buy-now-pay-later accounts – lenders take all of these into account when calculating your borrowing potential. They don’t necessarily stop you getting a home loan, but they do affect how much you can borrow.
Together, we’ll look at strategies to maximise your borrowing power. Think of it as clearing out the clutter before moving into a new place – the less baggage you have, the easier the move.
• Genuine savings
“Genuine savings” is a term lenders use to describe money you’ve saved yourself over time. It’s a sign you can manage your money and commit to regular saving.
All lenders have different policies around what counts as “savings” and the amount. We can look at your individual circumstances and advise you on the most beneficial way forward to help secure the loan you need.
• Clean credit strategies
Lenders like to see “clean” accounts. That means no missed repayments on bills or debts on your credit score in the lead-up to applying for a loan.
Other factors, too, can affect how “clean” your accounts look. We have experience working with various lenders and will help you assess ways to put your finances in a good position to give you the best chance of your loan being approved
• Your future plans
Life can come at us fast! What might that mean in terms of a home loan? Well, just because a lender can give you a certain amount doesn’t necessarily mean you should take it.
Together, we will discuss your future hopes or ambitions to ensure any home loan you apply for is manageable, and still keeps you financially healthy if your circumstances change.
We’re here to help you
Every person’s situation is different; that’s why it can pay to have someone in your corner who can look at your full, individual financial picture and help you figure out what’s realistic.
That’s Sky Blue Finance. As a licensed mortgage adviser, founder Peter Kennedy has been supporting home buyers for over 10 years with straightforward advice and expert support. He knows what lenders are looking for and, importantly, how to help get your finances in a position where you can get a home loan that works for you.
Ready to talk? Get in touch to chat about your options.
📞 Call Peter on 0414 602 491
📧 Email Peter at info@skybluefinance.com.au
Note: The above information is general in nature and does not constitute personal financial advice. It has been prepared without taking your unique objectives, financial situation or needs into account. You should seek your own independent advice as to whether or not this information is appropriate for you.
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