Real Estate

Mortgage Application: Challenges When Using Your Rent as Genuine Savings

Renting is one of the biggest roadblocks keeping many young Australians from saving enough money to own property. Lenders generally consider genuine savings as the ultimate basis for financial capacity to manage long-term mortgage payment. Fortunately, you can use rent as genuine savings when buying a house-and-lot package or vacant land for sale around Geelong, Victoria. If you have at least six months of strong rental history, you might no longer have to save cash worth 5% of the property value. This privilege is convenient because it allows you to gain a foothold in the housing market sooner. However, you might still encounter several challenges along the way. Here are some of the problems that renters face when applying for a mortgage: Finding a Lender Willing to Play Ball Most lenders have a stringent genuine savings policy, and many of them aren’t willing to make exceptions for model renters. Without using a broker’s service, finding a bank that will gladly accept your satisfactory rental history as an

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Cities in the Philippines

Making a Good Real Estate Investment

A good investment is a real estate property with a value that is more than the cost of purchase. Now that you are looking at a condominium for sale in Pasig, you must forget the romantic fantasy of urban living for a while and consider essential realities. There is nothing simple about buying a condo for personal use. However, you can do something to make it painless. Keeping a Good Investment from Going Bad After one leap, you are in the plunge. Before allowing yourself to be hooked, know the bait and what you are getting into. For instance, when taking a loan for the initial payment, you should consider whether the value of the property that you are buying will increase enough to take care of the interest. You also have to consider the amount and quality of interior improvements that you have to cover to boost the property’s value. A good investment today should only increase in value. If you do not consider this, you

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