A vital question, and one that needs an answer before you even start thinking suburbs or house size.
When it comes to home loans, your income plays the leading role. But there are some other important factors too:

• What have you got as deposit?
• What kind of property are you trying to buy?
• How does your income look over the next few years?
• What are your living expenses?

A rough guide to what you can borrow.

Take your income and multiply it by 4 or 5 times. If you’ve got existing debt or kids, stick with 4 times. If you’re kid-free, with no debt, you can probably stretch to 5 times. The resulting number is a ballpark figure of what you can borrow. BUT, calculations only go so far. A conversation can get you much further. So talk to us about your plans and we will quickly work out the ideal type of home loan and amount you can borrow… and realistically pay back.

Think big on deposit.

While a larger deposit means less interest over time, a big deposit isn’t always possible. Haven’t quite scraped that cash together? Take a look at some deposit options that could get you there.

For the majority of home loans, banks only lend up to 80% of a property’s value. But, there are exceptions to this rule and we can help you become one of them. We can work with as little as 5% in some cases, although borrowing over 90% is a little tougher and more expensive.

Get pre-approved.

Mortgage pre-approval is essential in the Auckland market. In fact, things move that fast that there’s no point in looking without it. So why not get the process started by calling us today?