First home buyer | Mortgage broker Wellington Point, Ormiston & Thornlands

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Buying your first home in the Wellington Point area

When you’re planning to buy your first home, there are so many things to consider! Between deciphering LVR from LMI, attending inspections, planning your budget and more, we know it can be a stressful and confusing time. But it doesn’t have to be when you work with Roland Fischer as your mortgage broker! Roland will take the time to understand the nuances of your unique situation and recommend the best steps forward to get you into your new home as soon as possible. He will answer all of your questions honestly and clearly, so you can feel confident taking this huge financial step.

With Roland as your mortgage broker, there’s no need to struggle through an endless number of loans as you search for the right one. He will find you the best deal possible without any of the stress! And with access to hundreds of different loans from a range of lenders, you can rest assured that no stone is left unturned in the financing process.

Using a guarantor to buy a home

When your deposit is less than 20% of the property purchase price, you will generally need to pay Lenders Mortgage Insurance (LMI) costs. Fortunately, however, you can avoid this unwelcome expense, while still getting into the market with a smaller deposit, by using a guarantor.

Your guarantor is usually a close relative, who will act as security on your loan - meaning they will be responsible for payments if you cannot afford them. So, while it might seem like the perfect solution to have a guarantor, it is not a decision to be taken lightly. Talk to Roland today about your options if you’re planning to buy your first home soon.

Calculating your borrowing power

Your borrowing power depends on factors like your income and any existing debts, and will likely dictate the kind of property you can afford. It’s important to determine your borrowing power early on in the home-buying process so that you can streamline your search and plan your repayments - in fact, the sooner the better. Roland, as your Wellington Point mortgage broker, can help you understand your borrowing power, or you can try our free online calculator tool.