Answer:
At 22 the banks don?t expect you to have a long credit history. The key factor to getting a home loan down the road is to ensure that you manage your finances responsibly. If you pay your accounts on time and consistently, this will bode well for a future loan.

Banks look at a number of factors when assessing you for a home loan. They work on a point score system. So, for example, if a score of 500 is the highest score you can get the closer you are to this the better. Different factors have different weightings, and every bank has its own particular system for calculating these points.

• Stability is an important factor. If you have lived in the same house and been on the same job for three years or more it will show them that you are consistent and you don?t job hop.
• Affordability is obviously important. If your bond payments exceed 35 percent of your salary they may ask you to put in a bigger deposit.
• If you have lots of other debt this will count against you.
• Your credit record is vital. Bad credit is a deal breaker.
• Sometimes the profession you are in can affect your score. Banks are not too keen to finance lion tamers for example.

Getting a loan for a home, although it seems like a small fortune, is perhaps the easiest type of finance to get.

At the end of the day, the bank has very little risk. If you put in a 10 percent deposit and default, the house will, in most cases be worth more than you paid for it. They will simply repossess the house to recoup their costs.