Coscia Finance compares countless home loans in Adelaide to find the right one for you. As a part of our mortgage broking service, we assess your unique circumstances to match you with the best home loan available. We deal with more than 25 different lenders and compare their offers based on your specific requirements. Whether you’re a first time home buyer, an investor or self employed, we can assist you with your loans in Adelaide
Buying your first home is an exciting time, but for some it can also be daunting. There are many things to consider when finding the right home, such as borrowing restrictions, repayments, and available government grants and concessions.
To help you navigate the unknown landscape, our mortgage brokers liaise directly with you to work out the best approach. We assess which grants and concessions are applicable to you, and if you are eligible we assist with the appropriate paperwork. During our liaison, we demystify the process and assist with obtaining pre-approval for you, so you can confidently search for your home knowing what finance will be approved.
Our mortgage investors have a keen and active interest in investing and understand the market. Loan structure is very important to ensure it matches your financial goals now and in the future. We can assist with arranging the right loan and structure, no matter what type of investor you are. So, whether you’re considering buying your first investment property, or are a seasoned property investor, we can find you the right loan and structure to meet your goals.
Self employed individuals enjoy the freedom and flexibility of being their own boss, which can bring greater rewards for their efforts. However, often self employed applicants find it challenging to meet strict lending criteria from some of the lenders when seeking a home loan.
Many self employed borrowers talk to a mortgage broker over a lender because they want a wider range of home loan options and don’t have the time to speak to them all. Talking with our mortgage brokers, is like having your own personal finance expert to help you find a competitive home loan with the right lender.
There are many things to consider before purchasing a home, which we have outlined below.
1. Contemplate the reason why you want to purchase a home
People are driven to purchase property for different reasons. Some homebuyers acquire a property with the intentions of living in it, while others want to utilise the home as an investment property. Whatever your motives are, it’s important to establish them before you apply for a loan, as this information can help you to decide the type of loan that’s best for you.
2. Investigate possible properties and loans
Research is essential in the property purchasing process. Understanding the current state of the market and knowing the price trends will help you determine the type of home within your budget. It will also allow you to set a savings goal towards your deposit. While for some lenders it is not a prerequisite to save the complete deposit, saving the required deposit does enhance your chances of getting your loan approved, as it shows you have good savings practices.
3. Keep in mind additional costs involved
When it comes to purchasing a property, it’s important not to get caught up in the excitement, and look at the bigger picture. Most properties come with added hidden costs, so it’s important to find out what additional payments are required before you sign on the dotted line. Commonly additional costs include stamp duty, property insurance, maintenance, loan establishment fees, lenders mortgage insurance, and legal and conveyance services.
4. Consider your future
While your present self may be in a position to acquire a home loan, will your future self keep up the payments? This is an extremely important question to consider before delving in to a home loan. Make sure you assess your future financial stability and determine whether you will be able to keep up with a long-term loan.
5. Seek professional advice
Purchasing a home can be an exciting, yet hectic time. With so much to consider and organize, sometimes it can all get a bit overwhelming. To ensure you make the right choices, it’s imperative to enlist in help from the professionals. Enlisting in professional help from pest and building specialists can ensure you avoid any nasty surprises in the future. With a range of different specialists in the industry to assist you along the way, you will have peace of mind in your decision.
Contact Coscia Finance to find out how we can help with home loans in Adelaide.