Of the many things I wish I had known before starting my property investment journey, one was the interest rate and how it would have an impact on the rate on my home loan facility.
When I was 26 years old and eagerly buying my first two investment properties, I didn’t truly understand how my credit score could have such a huge impact, not only on the rate I got on quotes, but also how a better interest rate meant I had better negotiating room with the banks.
Fortunately, I had a good credit score, but many people don’t. This often makes buying your first home that much harder. Far too many people wake up too late to the effect this has on their homeownership or even home rental journey.
