This is the second part of our conversation with John Ng, an experienced mortgage broker, and the owner of Money Jar Concept, a brokerage based in Melbourne’s Inner West. After five years of running his own business, John has a wealth of knowledge that he loves sharing with first-home buyers in his community.
In this episode, John breaks down some of the unique terms you may hear from banks or mortgage brokers, to give you the confidence you need to understand the mortgage application process. He’ll explain equity, genuine savings, lenders mortgage insurance, and more. Stick around to the end where John shares a pre-approval tip that might help save your credit score.