Home Loans & Mortgages

Just to give you a quick run down, the eight most common mistakes that I often discover in a home loan application are:

1. There are too many credit enquiry notations on your credit file.
2. Your loan submission is poorly written.
3. Your proposed home is appraised lower than the agreed purchase price.
4. Your chosen lender says you have insufficient funds, as savings, deposit, or your income level does not qualify you for the loan you seek.
5. You have changed jobs, employers or job status recently.
6. You have no savings history, or an irregular savings pattern.
7. You or your partner have an undisclosed bad credit or poor credit history.
8. You chose the wrong lender and your security is declined.

Loan application rates of the US and Australia are trending up In the US improving predictions and mortgage loan applications moving up with new home sales on the rise. Australia is seeing home prices rise again and moves to address the housing shortage. Australian interest rates increased as the economy in danger of over-heating Australia had [...]