Monday 14th March 2016Where Can I Find a Home Loan Mortgage Broker?
Perhaps one of the biggest and most expensive decisions you will ever make in your life is buying your first home. Buying a home, especially if you are not paying on cash basis, is not as easy as it seems. There are many considerations that you have to make, including the payment options. Moreover, even if you are already decided to get your home through mortgage, it might be difficult to find a lender that is willing to agree to your terms.
It is very important therefore that you seek the expertise of a professional home loan mortgage broker to make sure that you are making the right decision.
A home loan mortgage broker, as with any other finance broker, is someone who transacts in your behalf with banks and other credit institutions that offer loan. This broker specialises in home loans. A broker does the legwork on your behalf, which means that he or she is the one who does the researching regarding the products on the market. He or she also supports you throughout the application process until the termination of the loan.
In Australia, there are over 13,000 mortgage brokers, most of whom have access to almost 90 percent of home loan products.
The broker shops around for you. Shopping around, as with any other transaction, often results to a better deal. However, this could be very time consuming, especially because shopping for home financing involves calling a lot of banks and lenders. If you have a broker, the broker is the one who searches the loans available from various lenders. And a broker is experienced in this job, he or she can quickly find the right package for your needs.
You can save a bundle of money on your home loan if you find the right mortgage broker. There are over 1800 home loans available on the market, and for someone who does not know anything about loan financing, signing up for a home loan can be a daunting task. It is also very confusing to choose the appropriate home loan package, so it is better to seek the help of professional mortgage broker.
Here are some important points on how you can find a home loan mortgage broker:
● You can find a home loan mortgage broker through word of mouth. Ask the people around you when you are in hunt for a broker. You can even ask around using social media. Most of the businesses of brokers are thru referrals by family or friends.
● Do not stick to one broker. Meet with at least two or three brokers if you are looking for a home loan broker. Ask questions until you are satisfied and happy with the broker. It is important that you are comfortable with the broker before you decide to let him manage your transactions. Some factors that you should consider include responsiveness of the broker, his or her experience, and his or her understanding of the industry, the products, and the whole market.
● Make sure that the mortgage broker is licensed. You can check with Australian Securities and Investments Commission (ASIC) to ensure that you are talking to someone with a license.
● On your part, it is important that you research as well on how the mortgage process works so that you will be able to ask the right questions when selecting a broker. This way, you will be able to know that the broker is knowledgeable when it comes to mortgage and home loans. You may also want to visit online comparison sites firsthand and type your loan details to evaluate how much can you borrow. Later on, you can discuss these details with the mortgage broker.
● Make a list of your questions so that you won’t forget anything when you are talking with the broker. You may also ask your broker as to other possible credit packages or home loan products if you are not satisfied with their recommendations.
● Get a written agreement. The agreement tells you the type of loan that the broker offers, the amount of loan, its term, the current rate of interest, and the amount of fees that you have to pay. Tell the broker to break down the fees or commissions, so you will know how much would be the broker’s fees, fees to be paid to the credit provider, and other fees such as early termination fees. The agreement will allow you to compare notes when you talk to other brokers as well.
When it comes to buying your first home, 1300HomeLoan can help you make the right choice. 1300HomeLoan is Australia’s fastest growing, largest, and most respected mortgage broking companies. Whether it involves buying your first house, investing, or refinancing, you will find out mortgage brokers in all capital cities in Australia, including Sydney, Melbourne, Brisbane, Perth, and Adelaide. You can also find our mortgage brokers in most major regional cities.
We know how difficult it is to get financing and finding the right home loan package. Our brokers are available within your reach by calling 1300 466 356 to help you with your mortgage. You can also visit our website to arrange an appointment with a mortgage broker who is always ready to answer your questions. The appointment is obligation-free and confidential.
People who have come to 1300HomeLoan have been satisfied with the kind of service that we offer. We have access to over 30 different lenders, including the big four banks as well as non-bank lenders, all offering competitive product solutions to those who are looking for home financing.
Wherever you are, you can find a mortgage broker by visiting “Our Business” section and select “Find a Mortgage Broker.” You can also give us a call anytime and we will gladly find someone near your place so you can arrange for a meeting. 1300HomeLoan has the largest database of expert mortgage brokers in Australia.