Getting ready to buy a property? Here’s a handy checklist to help you organise your home loan.
o Create a clear picture of your budget. List all your income on one side of a page, and all your current expenses on the other. Include an estimate of potential home owner expenses, such as insurance and maintenance. This will help you understand the home loan payment you can afford.
o Determine your deposit. This may include your savings, KiwiSaver funds, grants, and gifted sums.
o Set up an appointment with a Seneca mortgage advisor. You can reach one of our team at 0800 or use the web form below
o Arrange supporting documents. These include pay slips, at least two months’ bank statements, a copy of photo ID, proof of deposit, credit card and finance purchase statements. If your self employed you may need to include two years’ financial records if you are self-employed.
o Meet with your advisor. During the appointment you can discuss your borrowing needs and capabilities, review your options and select the most appropriate home loan structure for your situation.
o Obtain a loan pre-approval. Your mortgage advisor will assist you in obtaining a letter from your lender statingyou how much you may borrow, so you can start shopping for your home. The loan may be subject to conditions and will require final approval from the lender.
Now that you've got a pre-approval you can go find the house of your dreams!