- In Bee Savvy - Getting the most out of your loan, Building wealth - Finance for investors, First things first - Steps before applying for finance
Did you know that your credit card LIMIT affects how much you can borrow, even if you owe nothing on it?
When you apply direct to a lender, they are unlikely to guide you as to how you can achieve a greater borrowing capacity, such as closing a credit card account or paying out a small car loan.
At Bee Finance Savvy we will guide you through this, which can make a huge difference to your borrowing capacity, whether it’s for a new home loan, investment property, or a refinance.
Many consumers assume that it is the amount they owe on their credit card, or their existing monthly repayments that will be taken into consideration, but this is not the case.
Unfortunately for customers, once they apply for a home loan, it is highly unlikely that the credit department will guide them to reduce their credit limit to achieve their goals.
This is extremely valuable information that Bee Finance Savvy is happy to provide to our clients.
It can make a difference regarding how much you can borrow by as much as hundreds of thousands of dollars towards your desired property purchase price.
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