You guys give solid advice. I watched your videos a lot for motivation and to stay the course so to speak when I was saving for a deposit. We were shocked on how much junk our money went towards! So for 2 solid years, we drastically changed our spending habits: cut subscriptions (piggy banked off mum & dads netflix), paid off debts, ate at home, own depreciating assets outright, so no latest and greatest car no phone plans etc and definitely NEVER EVER AFTERPAY. the list goes on.... Family of 5 we managed to save 20% in 2 years and we were offered more money than we needed (we only borrowed what we needed, even though it was exciting at the thought of buying a mcmansion). We put in the hard work and we got the first house we applied for. The bank was literally blown away when viewing our spending. The advice is literally being covered in this video, you just have to listen! Wants vs needs. If you can tell the difference, your bank account will look amazing. My relationship with spending is forever changed. Good luck everyone, stay the course.
Unfortunately, banks won't use projected income when assessing your eligibility for a loan, so you'll need to rely on your current income. Once your wife's income increases next year, you may be able to apply for a larger loan amount as the banks will consider the higher income at that time. For now, you could explore options for a loan that fits your current financial situation, and potentially consider refinancing or revisiting your borrowing capacity once your income changes.
Speak with your bank or chat to your broker on how to best approach, they may not need to see your 12 month rental history sometimes its only 6 months. We can have a look and see your options hit up our team - www.huntergalloway.com.au/
In Australia, having a credit card doesn't impact your credit score in the same way it does in America, as long as you manage it responsibly. If having the credit card doesn't affect your borrowing capacity, it’s fine to keep it open. Keeping it might even help demonstrate your ability to manage credit effectively, provided you pay off the balance on time and don't accrue high amounts of debt.
Thanks Susie, please check out: www.huntergalloway.com.au/hub/get-the-right-home-loan/ Alternatively, we'd be happy to help with a product comparison. There is no cost for our service and feel free to reach out here: www.huntergalloway.com.au/contact/
Omg stay away from lendi!!!! Read google reviews on that company. Horrible Horrible brokers. Run as fast as you can. Buying a property is so stressful, let alone e being ghosted while your hanging in limbo
![First Home Buyer Tips Australia [Buying a house in 2024]](http://i.ytimg.com/vi/qpoNkSD2O10/mqdefault.jpg)
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You guys give solid advice. I watched your videos a lot for motivation and to stay the course so to speak when I was saving for a deposit.
We were shocked on how much junk our money went towards! So for 2 solid years, we drastically changed our spending habits: cut subscriptions (piggy banked off mum & dads netflix), paid off debts, ate at home, own depreciating assets outright, so no latest and greatest car no phone plans etc and definitely NEVER EVER AFTERPAY. the list goes on....
Family of 5 we managed to save 20% in 2 years and we were offered more money than we needed (we only borrowed what we needed, even though it was exciting at the thought of buying a mcmansion).
We put in the hard work and we got the first house we applied for. The bank was literally blown away when viewing our spending. The advice is literally being covered in this video, you just have to listen!
Wants vs needs. If you can tell the difference, your bank account will look amazing.
My relationship with spending is forever changed. Good luck everyone, stay the course.
Thanks for sharing Paige, so happy to hear and appreciate the feedback!
this was super helpful, thank you!
Glad it was helpful!
My wife is a training doctor and her wage will double in the next year. How can we deal with this
Unfortunately, banks won't use projected income when assessing your eligibility for a loan, so you'll need to rely on your current income. Once your wife's income increases next year, you may be able to apply for a larger loan amount as the banks will consider the higher income at that time. For now, you could explore options for a loan that fits your current financial situation, and potentially consider refinancing or revisiting your borrowing capacity once your income changes.
@@MortgageBrokerAustralia thank you
What if i have missed rental payment on my history in the last 12 months, will i still get approved for first homw low deposit scheme?
Speak with your bank or chat to your broker on how to best approach, they may not need to see your 12 month rental history sometimes its only 6 months. We can have a look and see your options hit up our team - www.huntergalloway.com.au/
I Only got a credit card to get a credit score. Is it better to close it
In Australia, having a credit card doesn't impact your credit score in the same way it does in America, as long as you manage it responsibly. If having the credit card doesn't affect your borrowing capacity, it’s fine to keep it open. Keeping it might even help demonstrate your ability to manage credit effectively, provided you pay off the balance on time and don't accrue high amounts of debt.
@@MortgageBrokerAustralia thank you
Can you make a video for Aussie expats investors? How challenging is getting a mortgage for them?
Great suggestion and will put that on the pad
do you have a video on how to pick the best lender?
Thanks Susie, please check out: www.huntergalloway.com.au/hub/get-the-right-home-loan/
Alternatively, we'd be happy to help with a product comparison. There is no cost for our service and feel free to reach out here: www.huntergalloway.com.au/contact/
Having already a property outright can help to get the loan to purchase an investment property?
Sure can, please check out: ruclips.net/video/mp0iwG9ly_Y/видео.html
I’ve been applying through lendi atm and the broker who was assigned to me has stopped replying to my emails it’s rather frustrating.
Omg stay away from lendi!!!! Read google reviews on that company. Horrible Horrible brokers.
Run as fast as you can. Buying a property is so stressful, let alone e being ghosted while your hanging in limbo
Thanks for watching Ice, sorry to hear and feel free to reach out with us here: www.huntergalloway.com.au/contact/ if we can be of any assistance
@@MortgageBrokerAustralia I’ll be in touch soon. Thanks.