The Finance Is An Important Part Of The Offer
Many people are talking about how easy it is to get a bond nowadays. But if it’s so simple, won’t it create a housing bubble, soon to burst?
This is simply not true.
A buyer must decide how they are going to pay for their new home. Cash is always king, but most buyers will be borrowing the money.
They may be able to borrow some money from their family. However, the most common way is to get a home loan from a bank.
A prospect looking for a home loan still has to be eligible for it. This means they must go through a verification process and qualify. They must show that they can afford to repay the loan.
Their credit score has to meet strict criteria to prove their credit-worthiness.
Banks use a scoring system to decide whether the buyer can afford the bond repayments.
If the buyer has a steady income, there is a good chance that they will get a bond.
