First Home Buyer Q&A: Loans, Career Changes, and Maximising Your Borrowing Potential

What happens when your dream of buying your first home collides
with the realities of changing jobs, working overseas, or
stretching your budget? In this episode, we’re joined by Chris
Bates, one of Australia’s top mortgage brokers and co-founder at
Blusk, to tackle these challenges head-on with practical advice
and real-world examples to guide you through some of the common
challenges of first-home buying.


We start by addressing a common concern: how job changes impact
your loan eligibility. Chris explains how banks assess different
employment situations, including probation periods, career
shifts, and even casual or part-time roles.


Next, we dive into expat lending, a topic many Australians
working abroad grapple with. We then explore the trade-offs
between using first-home buyer grants and maximising borrowing
power by purchasing an investment property.


Finally, we talk about budget-stretching tips, including buying
unrenovated properties, considering nearby suburbs, and keeping
financial buffers. Chris also dives into the benefits of lender’s
mortgage insurance, showing how it can be a valuable tool for
first-home buyers when used strategically.


Tune in to get clear, practical answers and build the knowledge
you need to approach your first home purchase with peace of mind!


Episode Highlights:


00:00 - Introduction


01:21 - How long should I work at my new job to qualify for a
first-time home loan?


05:58 - How much of a disadvantage is it to apply for a mortgage
as an expat?


10:51 - What’s the smarter choice: higher borrowing power or
first-home incentives?


16:09 - Does renting out spare rooms help increase loan capacity?


22:32 - Is it better to buy a house now or after finishing my
career change?


36:42 - Chris Bates’ first home buyer property dumbo


Resources:




FREE MINI COURSE: How to price property like
a professional https://www.homebuyeracademy.com.au/freecourse




Meet our recommended mortgage brokers at Home Buyer Academy
https://homebuyeracademy.com.au/brokers




Visit our website https://www.homebuyeracademy.com.au/




Join our Facebook Group to get access to free monthly live
Q&A sessions




https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia




Learn how to buy property without making a mistake with our
ultimate 10-step online course for first time home buyers
https://homebuyeracademy.com.au/YFHBG




If you have any questions or would like to be featured on our
show, contact us at: Your First Home Buyer Guide
Podcast support@homebuyeracademy.com.au




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https://www.gooddeeds.com.au




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Looking for a Brisbane Buyers Agent?
https://www.propertypursuit.com.au/




Work with Meighan: https://www.linkedin.com/in/meighanwells/




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