10 Tips to prepare for a Home Loan Application

Interstate Finance & Leasing
October 1, 2024
Here is our Guide to help you prepare before applying for a home loan. These will give you a solid base to work from.
1. Clear your debts and clean your credit history.
2. Maintain a good credit rating
3. Show a good savings pattern
4. Review your employment status – If you are looking to change jobs or take time off to have children, you are better to apply for the loan before making the change.
5. Understand the market – Know the market you are looking to purchase in so you have a good sense of what represents good value.
6. Check your Grants & Incentives
7. Get rid of gambling habits
8. Settle your ‘Buy Now, Pay Later’ credit arrangements
9. Work out your Property Strategy – Is this a short or long term hold? Do you plan to renovate and sell? Or perhaps you want to keep the home for the foreseeable future? These decisions will change your choices on a variable or fixed interest rate product, and so it is vital that you consider your plans early in the home loan approval process.
10. TALK TO US, YOUR MORTGAGE BROKERS
