Welcome to That Home Loan Hub, your ultimate guide to mastering the world of home loans and property. I'm Zebunisso Alimova, here to simplify the complexities of real estate and provide you with expert insights and the latest trends.
Whether you're a first-time homebuyer, an experienced investor, or simply curious about the property market, this podcast is for you. Join me each week as we unlock the secrets to property success and help you make informed decisions. Let's dive into the world of property together!
From 5% Deposit to Homeowner: Success Stories with Jordan
•Zebunisso Alimova
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Ready to challenge everything you thought you knew about getting on the property ladder? Mortgage advisor Jordan returns to That Home Long Half to share eye-opening insights that will transform your homeownership journey.
The market has shifted dramatically in favour of first-time buyers. Jordan reveals how clients with just 5% deposits are successfully securing mortgages, including a remarkable case of a single-income family with five children who many would assume couldn't qualify. "Easy, easy," Jordan confirms when asked if 5% deposits still work in today's market. Multiple lenders, including Kāinga Ora programs and even major banks under certain conditions, are actively helping first-time buyers with minimal deposits.
One of the biggest revelations? Your past spending habits aren't the dealbreaker you might think. Those Uber Eats orders and daily coffees that show up on your bank statements? They matter far less than you'd expect. What truly counts is your future financial behaviour after securing a mortgage. As our hosts explain, "We are looking into the future and presenting the bank the future picture... Don't freak out about your expenses of yesterday."
The podcast shares touching success stories that prove homeownership is possible even when it seems out of reach. From a truck driver who just settled on his first property to an older woman who never thought she'd own a home but is now awaiting settlement on hers - complete with tears of joy and Sunday afternoon phone calls to her dedicated advisor. These stories highlight the personal touch that sets mortgage advisors apart from traditional banking experiences.
With interest rates dropping, housing prices at their most accessible in years, and banks "open for business" in ways not seen since before COVID, there's never been a better time to explore your options. Reach out now, especially with the busy Christmas season approaching. The dream of homeownership might be much closer than you think.
Hello and welcome back to that Home . Long Half Today I am joined by Jordan . Hello , jb .
Speaker 2
How are , how are , how are , how are ? I was a bit too far away from the mic .
Speaker 1
Yeah , please get closer . Alright , Jordan . For those that don't know who Jordan is , please go back a few episodes ago and have a look and have a listen . Jordan is our freshest advisor on the block and he was a first-time buyer last year .
Speaker 2
I was pretty much exactly a year ago .
Speaker 1
So he knows the pain , he knows the hustle , the frustration . And the frustrations , and he is here to help you . So today we're going to dive into some of the cases that Jordan is working on to see if you can relate to those cases and if you need help . He might be the man for you .
Speaker 2
The way you said that last bit .
Speaker 1
Cue in the suspense music . All right , Jordan , what do you have for me today ?
Speaker 2
Quite a bit . Actually it's been a very busy time the last month . Really it's great we're seeing a lot of first-home buyers trying to take their chance now , which is awesome to see , and honestly
they're all in a pretty good like pretty good boat really . I've got a lot of people come to me and they're very unsure about um , their position and um . After just a like a 15 minute conversation usually we have um they walk away like in a bit of mindset , you know , and understanding that like all the things that they thought would be a hang-up for them really isn't as important as what they think .
Speaker 2
You know , I've had um a couple come to me . They had um two like they're in two different households at the moment , so they were worried more about having expenses and to like double the expenses and stuff . And I just explaining to them like hey , like the bank is going to see it , yeah , but we talk to them and we tell them like hey , these people are moving in together , these expenses are going to be cut in half , at least , you know , if not even cheaper , because you're not having to pay double ups and even more , you know , so people can hang up on that and even more .
Speaker 1
You know , so people can hang up on that . Because I think the important thing for us to note and for the listeners to note is we're looking at your expenses for the future as well as what's happening right now . And a lot of you are freaking out about your Uber Eats and DeliverEasies and you know takeaways and coffees . I get it . But what we do present to the bank is that , hey look , if those clients are going to get a mortgage today
, they will change their habits because obviously people will pay the mortgage before spending money on anything else .
Speaker 2
That's a priority , isn't it ?
Speaker 1
Correct and this is extremely important to note . So if you're listening , I'll repeat again Please don't freak out about your expenses of yesterday . We are looking into the future and we're presenting the bank the future picture and we're going to address your issues of yesterday . We are looking into the future and we're presenting the bank the future picture and we're going to address your issues of today and we're going to tell them that you're not going to continue those habits , Hopefully .
Speaker 2
Hopefully . I mean you can , as long as you pay your mortgage Exactly .
Speaker 1
So all right , let's dive in into one of your cases . I know you had a really interesting one , so the clients had about 5% deposit . They did . Can you still buy a house with 5% deposit ?
Speaker 2
Easy , easy . So we have multiple banks out there , for Kaingura specifically , that are happy to do pre-approval for those first-time buyers . Get you on the property market . There's a lot of opportunity for you out there . And not even that we even have one of the main banks , pnz . They'll look like if you let's say what we call a live deal , when you've actually put an offer in on a house .
Speaker 1
But you have to be with that bank for at least three months . Yes , sorry . Make sure that if you are looking to buy a house in the next three to six months , come and talk to us , because we will tell you what strategies to take now so you are ready for that time . And remember , guys , that Christmas is only around the corner and it's going to get busy for a lot of advisors , for a lot of banks Incredible , yeah , everybody wants to get into a home before Christmas .
Speaker 2
That would be the dream , wouldn't it ?
Speaker 1
Yeah , so 5% deposit , lovely couple . What does the mister do ? Does he work ?
Speaker 2
He works full-time company . He earns . Let's see 80K a year .
Speaker 1
Okay , and what does the missus do ?
Speaker 2
She's a homemaker , so lovely lady looks after five kids .
Speaker 1
Five kids . Someone has more kids than me . That's incredible .
Speaker 2
All right , that's incredible .
Speaker 1
So five kids . She's a homemaker , home executive CEO . He works 5% deposit . Is it possible for them to get on the ladder ?
Speaker 2
easy smash that , honestly . They even came to me like talking about their bank statements as well , because he does this real cool thing of like raffling cards on Facebook and stuff as well . Yeah , so you see a lot coming in and out for the raffles that he does and everything . But you just have to remember we can explain that it's fine , you know , it's just a hobby of his , you know so it's yeah , so little things like that like we have to explain to the bank . But I think they've got a really good shot for the property they want to buy .
Speaker 1
And I think another thing that people don't understand is that you can't hide things from us . We see it all . We see it all , we will find it . So it's better if you're up front with us , because then it gives us the upper hand when we're explaining to the bank , versus being blindsided by , you know , the bank asking us about the secret account that you didn't tell us , because the bank can see it .
Speaker 2
But sometimes they're not even secret accounts . I find I'm finding a lot of clients that just forget about it , like they've got a savings account off to the side , which a lot of people you . When you're trying to save , you try and forget about it because it makes it a lot easier to save , you know , and sometimes they'll forget to put in those three months bank statements that we need and so I'll come back to them .
Speaker 1
They're like oh yeah , no , I do have that .
Speaker 2
I'm like , yes , please , I just need all of them . Helps me out a lot , you know yeah , exactly so .
Speaker 1
uh , the message today for our listeners is that if you have five percent deposit , don't be scared . We got you . If you have what you think is low income family , you know know where only one person is working and the rest of your income is made up of all sorts of benefits , we've got you , we've got this right , we've done it before and this is the best time to buy , probably . Oh , incredibly , what do you think ?
Speaker 2
Oh , massively . The rates are right , dan . Rates are right , dan , which is amazing . We're getting some crazy deals coming through some banks . Obviously , we've got to find specifically the right one for you , depending on your circumstance , but enhanced prices are the lowest they've been for a while . You can come in . I've been telling all my clients just be a bit cheeky ,
lowball . If you can see what you can get for your money , because there's a lot out there on the market , so you may as well just give it a go , see what you can get . It doesn't cost you anything to try .
Speaker 1
And the banks are open for business . You know like I haven't seen them so open since COVID , pretty much . I know the last few years they've been a bit tougher , but right now they're open for business . They want to help you . They want to help you , they want to lend you money . So don't be afraid , reach out to us . Jb will catch you .
Speaker 2
He will help you out . Jb , jb .
Speaker 1
Yeah . So for those that have questions and stuff , please don't be afraid , send them to us , because this podcast are for you . We are here for you , you know , and we absolutely love receiving those messages of hope when you guys listen to this podcast and then reach out to us and then tell us that , um , you know , you , you thought it wasn't possible and now it is . So we absolutely love getting those . So please reach out , would love to help you and I can't wait to see what you do with those clients . And hey , jordan , remember we recorded an episode um with you last .
Speaker 1
You were talking about this young fella truck driver . Yep , and tell me what happened with him in the end .
yesterday . Yay , yeah , he's full settlement , first-time buyer . He's loving it and I'm so , so stoked for him because it was a great deal for him . He got the house for an amazing price . It's a cool place . I couldn't be happier for the bloke . It's the same . I've even got another client that I've been working on for a while and it's all pretty much gone . We're waiting for settlement now , but it's her first home as well . She's an older lady and she never thought she would be able to do it .
Speaker 2
I never thought she'd be able to do it . You know , never thought she'd be able to achieve it , and we even managed to get her a full 30-year term as well which is fantastic .
Speaker 1
And she cried . I remember she cried and she hugged you a lot .
Speaker 2
She called me like because I'm available pretty much all the time , like for my clients anyway . So she called me on a Sunday I just popped a couple of tins with my flatmate . She asked me , just asking me questions about the lawyer and stuff , and I'm still there and she's like oh my God , you're so available . All the time I'm like , yeah , yeah , of course , just for you , it's all good .
Speaker 1
And I think that's another part where people , you know , when they ask a question , oh , what's the point of going to an advisor versus a banker ? I don't think a banker will answer the phone on Sunday afternoon , no , so that's the main difference . But , jordan , I'm so excited to see the people that you're helping , the changes that you're making in their life . This is just incredible , and I'm so proud to have you as part of my team . So thank you and welcome , and I can't wait to hear from you again .
