Ladies Finance Club - Get Rich Getting on the Property Ladder with Grace Bowe
On today’s episode we have the wonderful Grace Bowe joining us. Grace is a mortgage broker and she takes us through what you need to do to get onto that property ladder!
Grace is passionate about educating and empowering Australians to improve their financial literacy and their financial well-being. We have that in common!
So many women ask me if it’s even possible to get on the property ladder?! Grace is here to step us through why it is NOT impossible!
One of the reasons that buying a house can feel so out of reach is that 20% deposit! Grace steps us through some different ways around the 20% deposit burdle and what exactly Lenders Mortgage Insurance (LMI) is.
Grace steps us through some of the common mistakes that people make buying property, including not using a mortgage broker, credit limits and the loyalty tax. And no, that first tip is not a shameless plug. Mortgage brokers can make the stress and overwhelm of home loans so much more simple. They’re essentially like a personal shopper for your home loan! We also bust some myths around mortgage brokers and how they are paid!
So next. how do we work out the price limit for our new home? Grace explains that knowing what your borrowing capacity is is the most important first step! She also steps us through about what makes a good home loan application and what banks look for when they’re considering lending to you.
Then, how do you actually go about buying a house?! Grace explains what a pre-approval and why it makes such a big difference when you’re putting an offer in.
Grace also takes us what to do if we’re struggling with a deposit. She talks us through the government scheme called First Home Guarantee Scheme, how some professions have the LMI waived and what the guarantor scheme is.
What about your credit score? We bust myths around why you don’t need a credit card and how to make sure yours is up to scratch.
Grace also steps us through some topics you may of heard of but are not quite sure why they actually are! The different interest rates, offset accounts, building and pest checks, why you need a solicitor / conveyancer and what we should look for in a home.
Finally, Grace gives us some hot tips on how we can pay our home off quicker. These are so easy and make a big difference!
Ladies, if you’ve been thinking about property but have zero idea where to begin, this episode will be a game changer for you!
Resources mentioned:
CONNECT WITH GRACE BOWE:
Website: https://www.coasthomeloans.com.au/about-us
Instagram: @coasthomeloans
Facebook: https://www.facebook.com/CoastHomeLoans/
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