3 steps to buying an investment property
Step 1: Speak to an accredited broker to get a property budget
When considering an investment property, your first port of call should be your mortgage broker. An MFAA approved broker can help you achieve your investment property goals. They will review your assets and liabilities to determine how much you can borrow, which will in turn give you a general idea of your target price range, so you can narrow your property search within your purchase budget.
Step 2: Budgeting
Just like buying your first home, when purchasing an investment property it’s essential to budget. If you’re unsure of the best way to budget for an investment property, speak with us at Profy, we can help you to get on the right path.
Step 3: Important conversations
We will discuss your plans and your circumstances with you to determine what you can afford. Your adviser will also provide statutory documentation to initiate the lending process and work out for you what loan products will be appropriate in your circumstances.
Profy, an MFAA Approved finance broker, can assist you in making informed and sound home loan and credit decisions. Contact us today to help you get ahead.