1. Know your repayment capacity – Do a budget!
Increase your borrowing capacity by reducing expenditure and commitments
Understand where your money comes from and where it is spent
Rationalise credit card limits and clear any small commitments if you can
Contact us to calculate your borrowing capacity
2. Credit check – if there is a problem we can help!
Organise a free credit file check before you apply for a loan
Log onto veda.com.au to access the free credit file option
Knowing if there are any issues before you apply for a loan is very helpful
3. Deposit – equity contribution and grants
Minimum deposit required by lenders is 5% of the property’s valuation
Options are available if you need to increase your contribution
Boost your deposit with a first home owner grant – contact us to check eligibility
4. Current information – what documents are required?
Research your options on the internet
Contact us for details about your preferred lenders’ policy
Gather required supporting information – ask us for a checklist of the information borrowers require
5. Pre-approval – speed up the process to full approval
Be prepared – a pre-approval will help you act quickly when you locate a property
Provides a 90-day period to search with a known budget
Allows you to extend the approval for a further 90 days if required
Start your journey today, contact us for fact sheets or more information. Let us help you make your dream a reality!