So you want to buy your first home...
But aren't quite sure what deposit you need, and any other requirements you should meet to tick the bank's boxes.
In this first episode of The Mortgage Man Podcast, I am joined by Anthony of Tanta Financial Advisers and we cover all of that, focusing on the 3 main pillars that the banks are looking for.
- The Deposit
- The Income that will be servicing the mortgage
- Any other debt the applicants have
There is no set rule on where these need to be as they are very dependant on each other and the requirements change not only based on the banks' rules but also other factors within a person's application.
However there are some targets to aim for, and some things you can do right now to increase the chance of your application being accepted. This is what we layout in this podcast, so have a listen and then reach out if you have any questions.
Enjoy!
Aaron AKA The Mortgage Man
Coming up, next episode we talk KiwiSaver and Home-Start Grants
