Hi all,
Newbie here, looking for any advice on a mortgage broker in Hamilton suitable for an absolute beginner buying their first home. I've seen a couple I like that were recommended on Sorted.org but thought it'd be worth asking here.
I am a little skeptical of using a broker due to a lack of transparency in commissions but being such a beginner I think using one will still be a good move.
I'm buying on my own and I'm quite fond of the idea of a revolving credit facility. Ideally I would like approval for up to 500k (I can afford 20% deposit of this). My employment situation might be holding me back (I'm confident I can service a loan but I'm currently in a seasonal job).
I want to be able to put whatever money I can spare toward the debt and pay it off as fast as possible which is why revolving credit is appealing. I haven't wrapped my head totally around how it works but have a fair idea.
I'm aware I may not be able to get the whole loan on revolving, in which case I'm unclear whether I could have a fixed portion of the loan charged to a credit card account which is paid off every cycle from the revolving account? I don't know if that's possible to do, I've never used credit. I've read about a recommended setup with revolving credit where you have a credit card and use it for every day costs and pay it off from the RC account before it starts charging interest. I know there is a lot of self control needed to make use of a revolving credit account and I feel that I could manage one.
Any feedback/advice welcome, thanks!
Newbie here, looking for any advice on a mortgage broker in Hamilton suitable for an absolute beginner buying their first home. I've seen a couple I like that were recommended on Sorted.org but thought it'd be worth asking here.
I am a little skeptical of using a broker due to a lack of transparency in commissions but being such a beginner I think using one will still be a good move.
I'm buying on my own and I'm quite fond of the idea of a revolving credit facility. Ideally I would like approval for up to 500k (I can afford 20% deposit of this). My employment situation might be holding me back (I'm confident I can service a loan but I'm currently in a seasonal job).
I want to be able to put whatever money I can spare toward the debt and pay it off as fast as possible which is why revolving credit is appealing. I haven't wrapped my head totally around how it works but have a fair idea.
I'm aware I may not be able to get the whole loan on revolving, in which case I'm unclear whether I could have a fixed portion of the loan charged to a credit card account which is paid off every cycle from the revolving account? I don't know if that's possible to do, I've never used credit. I've read about a recommended setup with revolving credit where you have a credit card and use it for every day costs and pay it off from the RC account before it starts charging interest. I know there is a lot of self control needed to make use of a revolving credit account and I feel that I could manage one.
Any feedback/advice welcome, thanks!
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