How to Get Finance to Buy Real Estate

How to Get Finance to Buy Real Estate

Unfortunately, it is more difficult even in this day and age, for a woman to purchase real estate than it is for a man.  To qualify that statement, it is actually more difficult for women to get the finance to purchase property. Do banks think that a man is more trustworthy than a woman when it comes to repayments? Or could it be more to do with the fact that a woman who has children is more likely to have a lower paid job because she cannot put all her effort and attention into her career when she has children to look after? This may not be true for all women, but it is for some, at least.

In any case, if you want to buy real estate, the best way to get finance is to first save up at least 20% of the deposit. This will not only ensure you pay less interest overall, but it will show the lender that you are a responsible person who is capable of saving. This may require you to seek help from a financial planner to help set you on the right path.

It is also a good idea to have a good plan to back up your request, including any likelihood of you getting a raise in the future. Some careers come with opportunities for advancement, so it doesn’t hurt to mention these. You need to be able to show the lender that you have paid your bills on a regular basis for at least 6 months, more if possible. And if you have had other loans that you paid off successfully, bring proof along with you.

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