Owning a house – it’s always been ‘the great Australian dream’. A place to call home, raise your family, a comfortable base after a long day at work – and a significant asset.
Every bank has their own rules and calculations for deciding how much they will lend to you. Your choice of lender can therefore have a big impact on how much you can borrow.
How Much Can You Borrow?
How much you earn is perhaps the main factor in how much you can borrow, but how you earn your income is also very important. As a health professional, this can work in your favour – but sometimes there are certain requirements you need to know about, too. The challenges faced by health professionals come largely because your income is not a straight ‘9 to 5’ salary.
What Does This Guide Offer You?
In this guide, we’ll give you the ‘heads up’ on what to look out for in a lender if you’re trying to borrow the maximum amount possible. Then we’ll give you our top 10 tips to own your home sooner. Some of these tips you need to take into account BEFORE you choose your loan.
For example, each time you make a home loan application, the lender will do a credit check to review any previous loan applications. If you don’t make the right choice of lender the first time around, then the next time you apply for a loan, the lender may want to know why you weren’t approved the first time.
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