The FIFO 4 Steps to Save Money on Buying Your First Home…
it sooner than you thought!
The first home buying struggle is real.
The first home buying struggle is real. Not knowing how much you can borrow, where to start, how much to pay for a house, deciding whether to buy existing or build from scratch. It’s all a big deal. It’s exciting… but it’s a big deal. As we know too well, FIFO, by its nature is just not secure because it is based on the fluctuating fortunes of the mining sector – which we know is prone to boom and bust cycles.
This should not be a reason to hold you back when it comes to saving thousands on your home loan, even if you think you’re ready.
Unfortunately, the majority of banks have tight and complex policies that are hard to understand and don’t take into account the real life financial situations that everyday people face every single day.
There is however light at the end of the tunnel. I make it my business to know the banks and their policies well to get you the best results. You may have been put into the too hard basket for many brokers because they just want the quick easy deals. Your bank may have rejected you for a loan because you didn’t match their policies. I can find you the finance you need and take you step by step through the process.
The reason I’m different to the rest is, I understand your pain because before I was a mortgage broker I was a fifo worker. Having my own mortgage broker leave me high and dry followed by my bank when I talked to them direct lead me down the path of finding a better solution and becoming a mortgage broker myself. I know the banks, I know the real estate industry and I know what it’s like to hate wasting money.
Understand which banks can help you in your current situation.
Time is money. Time is precious. We spend so much of it away earning money that we don’t have much to spare when we are not at work. There are SO many options when it comes to finding your first home and financing your first home. If you do a quick google search you will find 100’s of opinions and options in regards to buying your first home. Where to start? Where to buy? What to buy? What to build? Who to build with? What bank to go to for a loan? What will your interest rate be? How long will you have your mortgage? How much can you borrow?
It’s a very daunting task to know where to start.
Every single person in the world has a different way of earning money. A different family structure. A different lifestyle. Different savings balances. Often when you do start looking for a mortgage, you will more than likely be rejected because you don’t fit into the boxes the lender has put in place for people to get those super low interest rates. That’s why it can be so disheartening and many give up before they even begin when they try to buy their first home.
A good broker knows which lender to check with first, which saves you time and money because it will speed up the process of actually getting you into your new home. The reason is that you spend less time searching for a ‘good deal’ on your finance (because that’s what I do) and you can spend more time choosing paint colours and decorating schemes fro your new place.
Unfortunately for some, they have gone about navigating the banks the wrong way. They have altered their credit score in the process and now they can not get a loan. If they had have talked to me at the start of the process, this would not have happened and they could have been in their new home already.
Find out how much you can save by purchasing your first home with a broker by your side.
Every dollar you make in your job is precious. You have taken time away from your life, your family, your hobbies (for me it was my cricket club) and so many other things so that you can bring in the money. Any money you earn away at work should NOT be wasted away with a bank who doesn’t understand you or your situation.
You may have been banking with your bank since you got your first ever job and they have denied you a home loan. You may feel a loyalty to them and feel like they would always want what’s best for you. Let me assure you, you are wrong. There is a reason banks make billion dollar profits each year. They know how to get, and be in control of money. When you take out your first home loan, YOU should be in control of your finances, not the bank. YOU should hold onto your savings, not the bank. Don’t waste anymore time letting them tell you what you can and can’t have.
Bank policies and interest rates can change by the day so whatever situation you are in now and whatever research you did yesterday, has quite possibly changed today. I can keep you up-to-date with bank changes and options you have available to you every step of the way.
How much more time, how many more weeks, how many more years , do you want to be working just so you can pay your bank a higher interest rate, when if you switched banks you could save hundreds of dollars a month.
Every dollar you save converts to time earned back in your ‘real life’. More time with your kids. More time at family birthday parties because you’re actually able to be at home more. More time enjoying the footy with your mates because you’re actually at home to attend the game.
Can you afford to delay refinancing if this is the case?
Act at the right time.
Be in the best position.
If you have kids and people ask you, “When is the best time to have kids?” often the answer is, “There is no right/best time to have kids”. All situations are different. There are so many contributing and individual factors to consider. The same goes for mortgages.
Sometimes people think waiting until you have more savings will help you be in a better position to get a mortgage. Sometimes people think that working for a bit longer will help. Sometimes people think that they should get a car/personal loan (a smaller loan) before they should get a bigger loan (a mortgage). Sometimes people are right… but sometimes they are wrong, according to various bank policies.
The best time to talk to a broker is NOW. We might have a chat and you might decide that you actually aren’t in the best position yet, but you will be in a couple of months, and that is OK. That is what I’m here for – to look into your options now, and into the future. BUT we also may look at all of your options, and all of the bank policies that can apply to you, and decide that even though you may have very little savings you will actually save more money by acting now.
Don’t EVER hesitate to get a better understanding of your personal finance. The first and most simple action you can take towards saving money and being home more often, is just to talk about it with a professional. The longer you wait to talk to a professional who understands your lifestyle, the more time you could be spending at work and the more money you could be wasting paying interest to the bank in the meantime. It could even take you months more to get into your new home.
You don’t ever need to wait to be in control of your finances and aware of exactly what options you have.
Get the process started and get into your new home now!
Take 5’s and JHA’s – we all hate filling them out, but we do it because we know at the end of the day, by filling it in, you’re getting paid to and you’re putting money in the bank.
The same can happen when you fill in the paperwork for a mortgage with me. It might not seem appealing or worth your time, but just imagine how much faster you could be in your new home because you’re not wasting your time looking for the best finance available to you - someone else is doing the ‘grunt work’ but you get all the benefits.
PLUS, you didn’t have to spend any time away or money to do it!
Once you have filled in all the info you can either email it back to me or come and drop it into the office and we will have a chat about your options. NONE of this costs you a thing! My services are complimentary. Mortgage brokers make their money from the bank you decide to go with. This whole process is in your control 100% of the time.
There really is no reason not to have a quick chat with me today. You have everything to gain, including money in your hands and time back at home. Isn’t a 10 minute phone call worth that to you?
I understand the FIFO life and so if you’re on nightshift I know when phone calls can and can’t be made. Things that other brokers won’t understand. I can help with any paperwork, because I know when you’re away it’s not always easy to get your hands on a printer or scanner. I can answer questions you have about credit ratings, casual and contract employment, current interest rates, and how to go through the first home buying process. I can put you in touch with amazing builders. I can help you find the perfect block for your family. I will go above and beyond for you, I have proved this time and time again with my clients.
I’ve been there.
Let me help.
I know first hand what it’s like to feel like you should be getting ahead faster but not quite knowing where to start. Here it is. Here’s where you start to take control. Here’s where you find out what your options are. Here’s where you decide how and where you want to spend your time and money.
It’s just a phone call or email.
0448 912 765
That. Is. It.
Make a choice today about where you want to be financially and physically a year from now. Then, let me help you get there.