Increase Mortgage Borrowing Capacity
Written on the 4 April 2011 by G. Dean McKinnon
The value of obtaining comprehensive financial advice before commencing any strategy to achieve your objectives may be the key factor in ensuring you obtain those objectives.
We recently completed a mortgage finance assessment for a client wanting to purchase their first home, but their existing debts limited their borrowing capacity to a maximum of $162,000, which was well short of the money they needed to purchase the house they wanted.
We were able to develop a strategy that enabled them to increase their maximum borrowing from $162,000 to $266,000, with the same amount of deposit and a significant decrease in the interest they were paying on their existing debts.
By increasing their borrowing capacity the clients were able to now afford the home they always wanted.
If your thinking about obtaining a home loan, or if your existing home loan does not suit your current circumstances, please Contact us for a free assessment.
Author:G. Dean McKinnon