So you're keen to look into buying your first home? The good news is that we've done it all before and are here to help you through the process!
One of the biggest things I find with First Home Buyers is that they are scared of not knowing how the process works - and I can't stress enough that that's what we're here for. I'll happily put my hand up and say I can't do an oil and filter change on my car, so I get someone else to help with that and explain the benefits of different types of services, and it's no different with your first mortgage.
At My Mortgage you get a free, personalized service, someone who is familiar with the Waikato markets, and a free sounding board throughout the process - and for many of my current and past clients, that makes the process much less scary and more a whole lot of fun (like it should be!).
Our process is broken down into some easy steps as follows;
1. Application - for this we'll need some information from you, and although it might look like quite a list, that's because we have the ability to approach any bank to get the best home loan for you. This will include;
- Application forms
- Bank Statements
- Payslips or Financial Statements
- Applying for your pre-approved Kiwisaver & Home Start Grant
- Current loans or other debt
2. Submit loan application and get pre approval - this is the process we go through with the banks, and in all cases we are making sure we approach the right bank for you, and get the right solution for your situation. We'll then send you a loan offer - which is the bank's formal offer to let you money.
3. Put in an offer - normally considered "the fun bit", this is when you start visiting open homes, chatting to agents and finding the right property for you that fits within your budget. You and the vendor (seller) will sign the agreement when you have agreed on a price.
4. Meet conditions on Sale and Purchase Agreement - this normally finance, builders report, meth test and a LIM report. 10 days for these things are generally standard, but speak to your lawyer as there may be other things to think about. Once you're happy with these things - you'll be unconditional!
5. We confirm your loan structure (a very important part of the process), and you'll then sign loan documents with your lawyer, and on settlement day all the money changes hands and you're the new owner!
Get the ball rolling today - ask as many questions as you can, and let's make a plan together to get you into your first home.
Click here to get in touch directly - and I'll chat with you soon!
- Claire Martin, Adam Thompson and the My Mortgage Team