Guide to Buying your First Home

37 TALK TO YOUR BANK Talk to your Bank You can simply start out by talking to your own bank. You don’t need to go to a broker at this point, although a broker can enable you to check several lending institutions to get the best offering. These days you can also check various rates online and avoid brokers. Personally, I would still recommend going directly to your local bank and asking them. If you don’t get the response you’re hoping for you may then consider another local bank, lending institution or contact a mortgage brokerage company. Most brokerage fees are built into the loan and paid by the lending institution; it does not cost you more. Summary The entire process is simple, and it all starts with you. I hope I have been able to make a difference and assist you to better understand the process of buying your first home. Sacrificing the small things in life is important. Short term pain for long term gain. Save the deposit and get started as soon as possible. I wish you every success on your journey and I am sure you will find it just as rewarding as millions of Australians have over the years.