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Buying your first home is both an exciting and nerve-wracking time. And it’s also a lot of work. There’s the process of deciding what you’re looking for, finding a house that fits the bill, and then there’s the finance.

Unless you’re in the industry, working out your home loan options can feel like learning another language. But it’s important to understand what your choices are so you know your home loan suits your needs and your budget. And that’s why it can be a good idea to get some inside help.

Of course, it comes down to preference: some home buyers enjoy the process and like to 'DIY' their home loan; whereas others like the idea of getting advice from someone who negotiates home loans day-in and day-out.

At RESIMAC Direct we do both: we work directly with home buyers, as well as working with advisers on behalf of their clients. If you're buying a home for the first time and think working with an adviser sounds like the option for you, you'll find the below a helpful read.

5 benefits of working with a mortgage adviser and what you should expect

  1. Explain the process

    Not sure what to do first? A mortgage adviser can help. If you're in a competitive market your adviser will be able to explain the benefits of pre-approval. They can talk to you about deposits and the minimum you're likely to need to save. They can also explain the timeline for getting a loan approved, and help you pull together the paperwork needed to get it across the line.

  2. Cut through the jargon

    Revolving credit, deposits, pre-approvals, fixed vs. floating. Talking about home loans can definitely feel like another language. An adviser can be a great translator. They should be able to help you to understand exactly what you're signing up for and what it means for you.

  3. Find the right options

    On the surface, home loans look simple enough – interest rate, term and repayment amount. But scratch beneath the surface and you'll see there's a myriad of specific attributes relating to each home loan option. There are quite a few ways you can tailor your lending needs – for the short term and the long term. If you want to get the most from your money, then your adviser will be able to share their tips and tricks. They can also help you to structure your loan to pay it off sooner.

  4. Avoid closing doors

    Depending on your financial position, there's a chance you might face some rejection on the journey towards you first home. Where it's because your deposit is too small, your credit record is less than perfect, or simply that you or the property you're seeking to purchase don't meet the policy of the lender, an adviser can help you. They may steer you towards lenders like RESIMAC Direct, who are often more open to finding solutions to get you into your home.

  5. Negotiate the deal

    Your adviser understands the system and is well-placed to negotiate you the best deal on your home loan. They can tell you if an opportunity is worth taking or whether you should hold out for a better offer. A good adviser is a great communicator, keeping you in the loop during the application and settlement process throughout the life of the loan.

If you’re wondering where to find a good adviser, then we recommend word of mouth. Ask around and see who can recommend someone who’s made the difference to their first home purchase. Or you’re welcome to ask the team at RESIMAC Direct; we work with great advisers across New Zealand.

  • Use a calculator to get an estimate of how much you can borrow.
    Try one here

  • See if you qualify. To get a more accurate idea of how much you can borrow with RESIMAC Direct,
    click here

  • Call our Lending Specialists and they can do the calculation for you over the phone plus answer any questions you have at the time. Talk to us on 0800 466 656