Mortgages Explained
Once you’ve saved up a deposit for a home, it’s tempting to go straight to looking at properties and house and land packages to find your dream first home! But before you do, you need to ensure you have approval in place for a mortgage. Without a mortgage, it’s unlikely you’ll be able to jump straight in to owning a home. We spoke to our friends at The Australian Lending & Investment Centre (ALIC) who gave us a summary on what a mortgage is, and how you go about obtaining one so you can become a home owner.