Today, we're back with another mailbag episode, where Michael is answering your burning questions about purchasing your first home.

In this episode, Michael explains how to determine your borrowing capacity, and shares exactly what lenders consider when determining how much you're able to loan. He then breaks down the different kinds of loans, including variable, fixed-rate, interest only, and principal and interest loans — as well as the pros and cons of each. Finally, Michael addresses the popular TV claim that you can buy a house without a deposit, and shares how getting on the property ladder can help you land your dream home.

 

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• Michael Nasser on Twitter

This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.