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  • First Home Buyers: Investigating your borrowing options


    Track down your income and assets, put your debts and expenses under the magnifying glass and enlist a home loan specialist to help navigate the financial requirements. 


    You’ve done the hard yards, cutting back and saving the deposit, and now the fun part begins, hunting down your prey… I mean home! If you want to be taken seriously, it’s time to talk home loans… ‘My finances are good to go’ are the sweetest words a real estate agent can hear.  

    Amy is in your position, and like you, she wants to protect her hard-earned savings, so she’s donned her detective’s hat to investigate her borrowing options. Because this stuff’s not elementary, now might be the time to bring in a trusty sidekick (like this woolly chap) to help her navigate the financial requirements and crack this case wide open.

    Start by sleuthing out the home loan rates and structures that suit you. Not all home loans are created equal – investigate fixed versus variable rates (a key difference being knowing what your repayments are versus your interest rate fluctuating with changes in the market), offset accounts (over time, your pot of savings could mean less interest payments), and dare we say ACTUALLY ask what the pros and cons are of these different loan features. To get to magical pre-approval land, you’ll need your financial ducks in a row. Track down your income and assets (no, your beer bottle collection doesn’t count) and put your debts and expenses under the magnifying glass.

    If you’re self-employed like Amy, you’ll need to provide the financial records for the business as well as the personal stuff. Getting these things ready will help make the process as quick as possible, and Amy could be tracking down her dream home in no time.


    Originally published on


    About the author

    • Raymond

      Raymond A Ram is the RAMbassador for RAMS Financial Group. Raymond works with the RAMS team to bring simple, helpful and expert information on home loans and savings accounts to life with his down to earth and cheeky personality. He enjoys seeing everyday Australians turn their dreams of saving for a goal or getting into a home a reality. 

      Growing up in Goulburn, NSW, Raymond was brought up with good old-fashioned Aussie values of hard work and a fair go. It soon became apparent that Raymond wasn't content for the conventional path of grazing, producing the very best wool, and finding a nice sheep to settle down with. So it wasn't long before his passion for performing and his talent as a likeable larrikin shone through - landing him a few roles such as 'RAMlet'. He was even tipped to play RAM-bo at one point but chose to become star of the small screen instead as RAMbassador for RAMS. He now finds this role so much more rewarding.

      Contact your local RAMS Home Loan Centre about your home loan options.

      Raymond A Ram

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  • Disclaimer:

    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.

    The views and opinions expressed in this article are those of the author alone and do not necessarily represent the views or opinions of RAMS Financial Group Pty Ltd ABN 30 105 207 538 (RAMS),  Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or their related bodies corporate. This article is strictly for information purposes only and neither RAMS, Westpac nor any of their related bodies corporate make any representation as to the accuracy or completeness of the information in this article or endorse the views expressed in it.