Applying for a home loan can be a testing time for even the most patient person – after all, if you don't understand the financial jargon, you'd be forgiven for being a little lost throughout!

However, the basics are this – when applying for a loan, whether it's your first or not, you're basically convincing the lenders that you are a reliable avenue for them to invest their money in.

They're looking for evidence of trustworthiness and, more importantly, proof that you will be able to make regular, timely repayments without hassle.

There are a number of ways for you to help increase your chances at securing the home loan you need for your property goals.

For example, having evidence of savings is a fantastic way to show lenders that you are serious about your financial discipline, and to show you're willing to go that extra mile to make repayments.

In the months leading up to your application, make every effort to put aside as much money as possible towards your loan. While chances are you're already saving, any extra additions will help you get closer to your home loan goals.

Furthermore, increasing your credit rating can help you to swing the lenders in your favour. Closing any credit cards or bank accounts you don’t use is a great start, as well as repaying any outstanding debts.

However, each lender will have a different set of criteria. Depending on what kind of home loan you're going for, whether or not this is your first home loan, if it's for investment purposes or construction – all of these factors will play a part in the lenders decision.

Getting in contact with a Smartline mortgage broker will help you to organise your documents and savings, as well as find a lender that is the best to apply to for your situation.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.