First home buyers now only account for 12 percent of approved home loans in the state of
In response to this news,
"A lot of components factor in the approval or rejection of home loan applications. Stability of employment, your immigration status, or having a bad credit score are just some of the things that bankers look into before they give a home loan application the green light. Just remember, a rejection from the bank doesn't automatically mean 'dead end'," commented
"When the banks close their doors on you, keep in mind that there are other ways you can buy houses for sale. Alternative solutions are available if you are struggling to qualify for a home loan or to save for a deposit," he added.
"The traditional process used to buy houses is already difficult enough. It's even more difficult for first-homebuyers, many of whom are still progressing in their careers and don't have an extensive credit history. With the help of seller finance, aspiring homeowners can make the buying process more accessible by negotiating flexible payment terms with the seller. And in making the process easier for all parties, buyers are able to get in more efficiently, and sellers are able to relieve themselves from unwanted debt quicker," he shared.
The Creative Real Estate Podcast is a weekly broadcast featuring
Australian property investment specialist,
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor. His real estate book, published in 2012, ''How To Buy A House For A Dollar', voted by
As well as conducting free seminars, workshops and conferences in the
Go to CreativeRealEstate.com.au to listen to Rick's free podcasts.
Read the full story at http://www.prweb.com/releases/first-home-buyers/rick-otton-strategies/prweb11942305.htm
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