How Joanna bought her first home
Joanna was PAYG employed and wanted to buy her first home in Melbourne. The key areas Entourage and mortgage broker Nicole Duggan were able to help Joanna with included:
- Eligibility to first home buyer incentives such as the First Home Stamp Duty Exemption
- Borrowing power and lending options
- Organise a pre-approval ahead of auction
Joanna engaged Entourage way back in 2018 as she started to look for her first apartment. She missed out on a handful of properties early due to competition in the market. Then COVID hit, Joanna was forced to wait while the market experienced waves of lockdowns. After the lockdowns ended the property market really kicked off throughout 2020 and 2021.
She applied for a pre-approval once again in January 2022, ready to dive in – fortunately with the additional years saving, she had a good deposit so when she was ready, she was able to keep up with the movement and growth we saw in the local market.
Finally, in April, Joanna was the winning bidder of a lovely townhouse at auction! She had been fortunate to obtain her pre-approval well in advance so she was able to bid confidently and know what her limit was. With advice and guidance from her broker Nicole, Joanna secured her home loan with an LVR of 85%, an LMI waiver, an offset account, a super low interest rate and enough surplus funds left in her savings to ensure she has a safety net should her circumstances change in future.
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