We want to purchase a home. Currently where we are living they are very cheap. We can get a house well under $200000. We currently are working on a house deposit, husband credit is pretty shite I believe. I have no clue on mine, pretty sure it's fine. Only thing is that I don't work, due to having children. I am hoping to get work in the near future. Husband is on $80000 a year. The house would likely go in my name. We know what costs are involved in owning a home, but we just need to get to owning a home... Help!!!!! Who do we go and see to help us work out our finances and see how much/if can borrow and help direct us in the right way of getting a home...
3 Replies
Contact a mortgage broker in your area
Mortgage broker. Despite a two income household with negligible debts, we still couldn't get our bank to look at us for a 240K home loan but a mortgage broker got us a fairly good one within a week.
I don't think you would get a loan in your name alone if the house is just in your name.
I had 500k from a sale of my house and wasn't working, got new-start, child support and family tax A and B and the bank wouldn't even lend me $1
If you got a job for 2 weeks and can show you are in a permanent job for 2 weeks you could get a home loan and then you can quit your job if you really don't want to work, you have to just prove that you can service a loan when you take out the home loan