When it comes to buying a home, there are many misconceptions that can lead potential borrowers to abandon their home buying process. One such misconception is that if you’re classified as being on ‘probation’ in a new role or career, you can’t apply for a home loan. However, as it stands today, lenders will approve loan applications based off 1 payslip only, with many accepting two payslips – regardless of whether you’re on probation. In this article, we will address some common misconceptions about the home-buying process and provide information on how to navigate them.
You can’t apply for home loan if you’re on probation
Lenders don’t like casual employees
In a rising rate market, you should always fix a home loan
It’s easier to apply for a home loan with your current bank
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