If you're a first home buyer, it can be understandably difficult to enter into the real estate market. After all, taking out a home loan and purchasing property is one of the biggest financial undertakings most people will ever experience.

There are a lot of things to consider before pulling the trigger and committing to a certain home. But one of the hardest parts of purchasing a home is actually saving up enough money to be taken seriously by your lenders. The financial obligation of a mortgage will be with you for an extended period of time and isn't something to be taken lightly. 

And financial lenders know this. Before they commit large sums of money to any one individual, they have to be sure you're a reliable person – someone who will be able to make repayments in full and on time, without fail.

For example, one thing they will look at is your deposit. As a general rule of thumb, deposits are usually between 15 and 20 per cent of a property's overall value. The more you can save, the less the lender has to commit to you, which increases your chances of securing a great home loan deal for you and your family. 

Adopting a great saving strategy will help you to get on the right track. Not only will it aid the growth of your savings, but it can be used as evidence of your sound financial situation when seeking a home loan from your lender, helping to boost your chances of successfully securing a great home loan. 

Things like getting rid of digital television packages or no longer buying coffee every day may seem like small sacrifices, but they build up over a long time. 

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.