How ready are you?
Fifteen questions across five categories. Answer honestly, there are no right or wrong answers, just a picture of where you sit right now.
Savings and Deposit
Roughly how much have you saved toward a deposit so far?
How consistent has your saving been over the past six months?
Do you understand what lenders generally treat as genuine savings?
Income Stability
How would you describe your current employment?
How has your employment looked over the last two years?
How many financial commitments, like debts or dependents, affect your borrowing?
Credit Awareness
Have you looked at your credit file recently?
How many credit applications have you made in the last six months?
Do you know your approximate credit score range?
Timeline and Process
How familiar are you with the Victorian home buying process?
Do you understand what a conveyancer or solicitor does in a purchase?
How clear are you on the typical timeline from deciding to buy to getting the keys?
Property and Market
How well do you understand lenders mortgage insurance?
Do you know what a Section 32, the Vendor Statement, is?
Have you started looking at specific properties or areas?