Get a Home Loan and Own that new property

You may be wondering whether you are able to qualify for a home loan large enough to cover the purchase price of that new house. Although the National Credit Act (NCA) has cast even more doubts in our minds about how much we can qualify for, this has historically been one of the first questions buyers ask themselves before shopping around for their new house.

In this series I’m going to show you how to use the NCA, a bond originator, and your own ability to your advantage when applying for property finance.

All it takes is four basic steps and these steps are totally free.
1. Find out what it is you really want
2. Find out what you need to do to get property
3. Believe that you are able to own the property
4. Act on that belief

Let’s discuss the first step now and later I’ll explain the rest of the process.

1. Find out what it is you really want
This initial step, as always, is the key to unlocking the whole process. The reason for this is that you need to be totally committed to your goal and have a clear picture in your mind of it.

Purchasing a new property is a long term commitment. You have to carefully consider what it is you want from your home.

Don’t even think about money at this point, all you are concerned about now is what requirements your new house needs to fulfill.

When you know what you’re looking for, you won’t be easily distracted by other properties that may force you to settle for something less.

You’re not concerned about the price, whether you’ll qualify or anything to do with your financial position – all that matters is that you know what your new property looks like in your mind.

In life you only ever receive what you expect to receive – nothing less, nothing more. The reason for this is that when you expect something good – like a new home – you begin to plan your life around that expectation. You prepare yourself in advance. In your mind you begin to not focus on how you are going to afford the property, but rather how you are going to decorate it with furniture, etc.

Now, opportunities come to you everyday. A new job opportunity; a new business idea; or a cheap holiday package, but we either choose to ignore it or simply don’t recognize the opportunity.

With the goal of your new house on your mind at all times, you’ll be ready and open to recognize when you are presented with an opportunity to own a bigger house in a better neighbourhood that is closer to transport, schools and/or shopping centres.

The next step is to get the HomeLoan you need to own your new property – Finding out what’s required of you and the bank for the deal to be successful. This step requires contacting your private bond consultant to work out what the monthly home loan repayments would be on that loan amount and other things that I’ll explain next.

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