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Applying for Mortgage for the first time: Is it that difficult?


If you are obtaining a mortgage for the first time then applying for the loan might seem like a daunting task to start off with. However, with due guidance from experts, you will be able to perceive things more easily. It’s certain that nobody will come to your doorstep to sell you the home loan. It is you who have to take the initiative of carrying out research and asking for help in this respect. The question is – what exactly should you do when you need to finance your home? Let us explore in the course of the post.

Where to start from

Thanks to the fast advent of the internet, you are not even required to step out of your homes in order to conduct research on the credentials of lenders offering home loans today. Not only will you be able to access websites of all the lenders operating in your state but you will also be able to fill out the application form online as well. A more direct approach to finding lenders would be to turn to the Yellow Pages and find out the names of the mortgage brokers.

You have to call these lenders and provide them with some basic information to get started with the whole process. The basic details like name, address, age, earning, among others are meant to reflect your repayment capacity to a certain extent. The bank or the lending institution will pull out your credit report and from thereon they will help you apply for the loan in the hope that you will qualify.


It is very important to compare the current market rates on the home loans thoroughly before applying. The internet itself will help you in your quest. You can find affordable home loans by comparing rates offered by multiple lenders within minutes.

Background check

Refrain from settling for the services (or products) of a lender without doing a background check of the company. These lenders will study your credentials as a borrower minutely before offering you these loans. Even you should carry out similar homework on the credentials of the lenders.

  • For how long have they been offering home loans?
  • Are they offering market competitive rates?
  • Do they enjoy a decent reputation in the market?
  • What are their clients saying about their quality of services? Are they complaining against their predatory lending practices?

Please do not end up picking a company without considering the aforementioned points. As far as reputed lenders in Australia are concerned, you can blissfully pose your faith in Newcastle Permanent Building Society. You can check out their Premium Plus Package discount- 4.09%- made available for a limited period of time. This offer is available only for borrowers applying for an owner occupied home loan with a minimum new loan size worth $150,000 or more.

Make sure you are learning more about the background of the lender and making an informed decision regarding the purchase of your home!

Didn’t all that sound so easy! Best of luck!


  1. Don’t forget to contact your bank specifically. They’ll usually give you a preferential rate. It still wasn’t as good as the one we got elsewhere, but still, it was worth checking out.

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