MORTGAGE TAILORS 2025

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The document is a comprehensive buyer's guide from Mortgage Tailors, aimed at helping individuals navigate the process of purchasing a home in New Zealand. It covers essential topics such as affordability, property types, the purchase process, mortgage application steps, costs involved, and various mortgage products available. The guide emphasizes the importance of pre-approval for financing, understanding insurance needs, and the role of solicitors in property transactions. Additionally, it provides tips for paying off mortgages faster and highlights the significance of building a long-term relationship with a financial advisor.

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Click ‘Get Form’ to open the MORTGAGE TAILORS document in the editor.
Begin with the 'Affordability' section. Input your deposit amount and monthly income to assess your borrowing capacity. Use the one-third rule as a guideline for repayments.
Move to 'Location & Property Type'. Here, list your preferred areas and property types. Consider factors like infrastructure and weather conditions.
In the 'Purchase Process' section, outline your preferred method of purchase (e.g., auction or tender) and any conditions you wish to include in your offer.
Complete the 'Checklist of Items Required' by gathering necessary documents such as proof of income, identification, and bank statements. Upload these directly into the form.
Review all sections for accuracy before saving or sharing your completed form with your mortgage advisor for further assistance.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What to watch out for with mortgage lenders?

What to watch out for when youre shopping for a home loan. Sign 1 - Big Fees. Sign 2 - Penalties For Paying Off Early. Sign 3 - Inflated Interest Rates From Brokers. Sign 4 - Steering And Targeting. Sign 5 - Adjustable Interest Rates That Explode Sign 6 - Promises To Fix Problems With Future Refinances.

What exactly does a mortgage advisor do?

They meet with clients who are purchasing a property to help them find a suitable mortgage, assist those whose current mortgage deal is about to expire and require a new one, and guide clients looking to release equity from their property.

Can I speak to a mortgage advisor for free?

Most mortgage advisers wont charge for your initial conversation, but always check if youll pay for this. If its free, you can speak to more than one before deciding. Once hired, your adviser will make recommendations and they must give you a mortgage illustration document.

What is a red flag in a mortgage?

Red Flag #1: When they offer you a rate thats lower than the APR. When a mortgages APR is much higher than the actual rate, it means that the fees are a lot higher, too - and youll be paying them over the life of your loan. A low rate might be enticing, but you have to consider the long-term cost.

What not to say to a mortgage lender?

5 Things You Should Never Say When Getting a Mortgage I need to get an extra insurance quote due to I cant believe how much work the house needs before we move in Please dont tell my spouse whats on my credit report Im still working out the details on my down payment

Is it worth paying for a mortgage broker?

Using a mortgage broker can speed up and remove some of the stress involved in the house-buying process. As mortgage brokers have access to special deals, they may also be able to get you a cheaper mortgage than you can find yourself. Some will even tell you about better mortgages you can only get direct.

What do mortgage lenders not like to see on bank statements?

Red flags on bank statements for mortgage qualification include large unexplained deposits, frequent overdrafts, irregular transactions, excessive debt payments, undisclosed liabilities, and inconsistent income deposits, which prompt lenders to scrutinize the borrowers financial stability and may require further

What mortgage lenders dont want you to know?

10 Secrets Mortgage Lenders Dont Want You to Know You dont need a perfect credit score. Theres no such thing as no closing costs You can make extra principal-only payments. You can shop for mortgage lenders. You might not need private mortgage insurance. Some closing dates are better than others.

MORTGAGE TAILORS 2025

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