Search found 3 matches

by
Fri Oct 18, 2019 7:48 pm
Forum: Home Loan Forum
Topic: Will we be eligible for a home loan when we have worked for less than 6 months?
Replies: 5
Views: 71086

Re: Will we be eligible for a home loan when we have worked for less than 6 months?

That’s great to know. What other factors do banks assess? Is the deposit too low?
by
Fri Oct 18, 2019 7:40 pm
Forum: Home Loan Forum
Topic: Will we be eligible for a home loan when we have worked for less than 6 months?
Replies: 5
Views: 71086

Re: Will we be eligible for a home loan when we have worked for less than 6 months?

Alright then, didn’t know our employment status would affect our credit score. Thanks for the information. Would the car loan further impact our credit score?
by
Fri Oct 18, 2019 7:26 pm
Forum: Home Loan Forum
Topic: Will we be eligible for a home loan when we have worked for less than 6 months?
Replies: 5
Views: 71086

Will we be eligible for a home loan when we have worked for less than 6 months?

My partner and I are looking to purchase our first home but we aren't sure what we can afford or how much we'd get approved for. The property we’re looking at is $680,000.
We have saved a $30,000 deposit and are also eligible for the $15,000 First Home Owners Grant. My partner earns an annual income of $57,000 while I earn $48,000. We don't have credit cards, but my partner has a $7,000 car loan. We have only been in our current job for 5 months. Our current lease will be expiring on January 2020, and we hope to get a loan approved before this.
Will we be eligible for a home loan when we are on probation have worked for less than 6 months?