Steps to Buying an Investment Property

Steps to Buying an Investment Property

Step 1: Speak to an Approved Mortgage Specialist

When considering an investment property, your first port of call should be your credit adviser.  An Mortgage Specialist 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 your Mortgage Specialist, they can help you to get on the right path.

Step 3:Important conversations

Your Approved Mortgage Specialist 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.

What’s next?

This is just an abridged guide to help you get started. For more information and further details, speak with your MFAA Approved Credit Adviser. If you want to know more about debt consolidation and gain better control over your finances, contact us on on 1300 CAP ONE (227 663) or fill in our Free Assessment Form.

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