How To Increase Your Borrowing as a First Home Buyer NZ
Let's increase your borrowing power as a first home buyer in nz! Banks analyse your financial patterns, and the more fixed commitments they spot, the less you can borrow. Let's tackle two common culprits together.
First, donations. Instead of making weekly or fortnightly contributions, consider consolidating them into lump sums every six or twelve months. By eliminating regular donation expenses from your account, you enhance your borrowing potential.
Next, daycare expenses. While we understand the importance of quality care for your little ones, consider exploring alternative arrangements for a temporary period. Grandparents pitching in for daycare costs over the next 12 to 18 months can significantly impact your mortgage application. Plan ahead and set this up at least six months before applying for your loan to demonstrate increased disposable income.
Of course, there are other regular expenses to keep an eye on, but these two often make the most substantial difference. By reducing them as much as possible, you create room for a stronger loan application.
Get your Mojo Map: https://whq.co.nz/mojo-map/
Who are we?
WealthHQ is our offering to help people who want to buy a home but need a bit more time and help getting into that position much faster. We are committed to providing the right tools and education to fast-track your first home property purchase. Action is the key that lets people down the most. If you’re ready to get the best head start and start building your financial freedom today – then lets do this.
Learn more about us: https://whq.co.nz/
Ready to chat with us? https://go.oncehub.com/ClientSuccess1
-----------------------------------------------------------------------------------------
Auckland Property Market
First Home Buyer
wealthhq
whq
Auckland Mortgage Brokers
First Home Advice