u/uncovered_cursor

As per the title - fiancee and I will be having our initial consultation with a mortgage broker within the next few weeks.

What documents / pieces of information should we pull together now to make the process as easy as possible?

Added Context:

Both debt free

Both full time salaried professionals

I have around 30k in an ETF portfolio

Partner recently received inheritance from parents for purpose of property purchase

Shared bank account for living expenses - separate personal accounts where we both get paid

I'm sure our broker will ask for this info in time, but would like to prep these docs before hand - thanks!!

Info/Background: M and F (Mid Twenties - engaged) - HHI 190k - zero household debt

Funds Saved/Allocated: 400k

Finally reaching the stage of house hunting after around 1 1/2 years renting in SE Melbourne (Caulfield Area) - combined average 50% of take home pay saved per month (over that period), very conservative around spending.

We have both been saving for around 8 years of employment, one of us works in the city, the other works in the SE suburbs.

Conundrum: Ideally, we would like to purchase a house/semi detached in our current area, however we are struggling to decide between two options.

1: More house/land in an outer east suburb (850-950k), but sacrifice commute time and closeness to family, at 80% LVR leave us with a large offset and lower monthly payments.

2: Opt for a semi-detached/smaller size property within our current area, but pay a premium and take on a larger mortgage (950k-1.1m), leaving us less cash on hand for offset at opening 80% LVR and larger mortage obligations.

I'm an eternal optimist, and I'm confident both our incomes will increase in coming years, however I would love a second opinion.

Thank you!!!