Sean and Jina have been working tirelessly to build their savings and upsize their current home. Jina is a nurse who alternates between day and night shifts, while Sean works as an operations manager, with reliable hours. The couple feel behind as they are not able to provide adequate space for their growing family and are looking to take out a loan to afford a new property. However, despite having sufficient savings, their credit circumstances made it difficult to secure a new loan. Sean and Jina had very little faith in their borrowing potential and were doubtful about the prospect of buying a new property.
The couple reached out to Provida Finance for assistance.
We sat down with Sean and Jina to thoroughly assess each of their assets and liabilities. Using this, we identified opportunities for the couple to improve their borrowing capacity and provided strategic feedback to improve their loan eligibility. This included refinancing their current home, which significantly increased repayment savings. After this analysis and deciding their course of action, we swiftly helped them secure pre-approval for their intended borrowing amount.
Once receiving the pre-approval, the couple have gained the confidence to search for their dream home as their financial position is no longer a source of insecurity. The couple agree that refinancing their current home was essential as it reduced financial burden and improved affordability when taking out their new loan.
After analysing Sean and Jina’s financial situation, we can observe three key takeaways.
- Proper financial assessment can unlock borrowing potential, even in challenging circumstances.
- Strategic refinancing can lead to substantial savings.
- A structured and professional approach can help clients achieve their homeownership goals despite initial doubts.
The couple reached out with a glowing review:
★★★★★
“The team at Provida went above and beyond when helping us secure our current home loan and refinance our old one. The process was smooth, and the advisors were strong communicators and quite knowledgeable. They never hesitated to answer any of our questions and offered us useful advice and options, ones we had not considered. We highly recommend Provida.”
– Sean and Jina
