When you start shopping around for a home loan, it’s important to think about how much you can repay without it affecting your lifestyle. Then once you have bought your property, you’ll need to consider your repayments and how you can start paying off your home loan sooner.
To help you get started here are a few tips and tool, so you can do your research and start off the home buying process on the right foot.
Choosing the right loan:
Whether you’re buying your first home, building or thinking about investing in property, finding a home loan that's right for you is key.
To find a home loan that suits your individual needs and lifestyle, it’s important to think about your circumstances and options. The following questions can help you get started:
- What sort of property do you want?
- How much can you borrow?
- What additional financial benefits do you require?
Paying off property sooner:
When it comes to your home loan, it’s easy to feel out of control at times. But understanding exactly what you’re paying and when you’re paying it, is the first step to taking control again.
Once you know the ins and outs of your home loan, you’ll be in a much better position to start looking at ways to pay off your home loan sooner.
General Advice Disclosure: This document contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.