Consult A Mortgage Broker To Save Time And Resources
In this day and age when time is scarce you have to ration it carefully between work and recreation. We have heard the saying the ‘time is money’ and it has never been more true than today when we all tend to leave specialist tasks to the realm of specialists who are trained to give a service in a certain area. In the area of home loans the specialist professional is a mortgage broker.
eChoice Home Loan Comparison Service
Work with your very own personal home loan manager to find the loan which will suit you now and into the future. Your eChoice mortgage broker can also offer advice and assistance in organising your life insurance and income protection insurance needs.
- Compare the loans of over 30 lenders all in one place.
- eChoice uses years of experience and training, coupled with state of the art technology to match you to your perfect home loan.
- Interest Rate of 6.55%
- Comparison Rate of 6.55%
- Application Fee of $0
- Maximum LVR With LMI: 90%
- Minimum Borrowing: $0
- Maximum Borrowing: $0
A mortgage broker has become an invaluable friend to have at your side when contemplating buying a home as most of us, when entering into such an venture, will require some level of additional funding over and above that which we have readily available. There was a time in the past when obtaining finance for your home was a simple procedure.
This is no longer true, as today there are dozens of lenders, both bank and non-bank, all offering home loan products that run into the hundreds and all of them different from the other in some aspect. For this reason it has become a specialised occupation in sorting out which home loan is best suited to any particular individual. We are all different, we all earn different incomes and have different aspirations in life. Some of us will marry some will not, we may wish to start a family and want a larger home. Many will be satisfied with a city apartment. As diverse a group of people as are home buyers, the means of financing your property is equally diverse. It is definitely a field for a specialist to work in and in the mortgage business that specialist is a mortgage broker.
Although it is still possible for you to seek out your own mortgage, you must enter into such a search with much time on your hands and a system behind you whereby you can record details, both on price and features. If you are not prepared, or able, to do this you may become inclined to take whatever is the easiest to obtain and thereby do yourself a terrible expensive injustice. A home loan is a very big investment for anybody to make, the biggest investment most people in the community will ever make in their entire lifetime. For this reason it is important to get it right from the beginning as even half of one percent in interest rate difference can add up to many thousands of dollars over the life of a 25 to 30 year mortgage.
Many lenders will advertise a low interest rate on a certain loan but that low interest may be compensated by the lender charging certain fees and costs that are not required on other similar loans. Some low interest loans have few features, features that could be used to pay in additional funds that will help in paying the loan off sooner, another way of cutting back on interest costs. Other loans may charge you a penalty for paying in extra repayments into your home loan account. These are only some of the pitfalls you will have to be aware of and if you are going through the process alone it will mean a lot of reading of the small print on every offer you feel might be appropriate.
All this takes a lot of time, especially if it is the first time you have acquired a home loan, as you will not even have any personal experience to fall back on. A mortgage broker on the other hand does this sort of thing as his or her day to day way of earning a living. A mortgage broker knows what is available and at what price, they know which lender is best to approach depending on a home buyers circumstances, such as being self employed or working for a salary. They know what is wanted in the application as different lenders require different information and they will know exactly what needs to be submitted with the application as supporting evidence, again different lenders require different supporting documents.
When using a mortgage broker to help you find the most suitable mortgage you will also be more assured of your application becoming approved as your mortgage broker will be unlikely to forward an application if he or she feels it has little chance of being approved.
It is also nice to know that a mortgage broker is with you throughout the whole home buying process, not only in the obtaining of the home loan itself. They will remain by your side as your advocate should any concerns be raised regarding your finance while you are going about buying the home. They will be at your disposal during settlement and will remain with you throughout the life of the loan. They will remain available to you for advice should your circumstances change at any time and some aspect of the loan might need changing or refinancing might need to be arranged.
Start a mortgage broker comparison in your area now.
Related posts:
- The Best Guide For Selecting A Mortgage Broker
- How to Save on Home Loans
- Homeside Mortgage Broker
- Switch Your Home Loan And Save
- How much can you Save with an Offset Account?
- Top 12 Mortgage Myths – How to Save Money with Your First Home Loan
- How To Switch Home Loans and Save Money
- Four Ways To Save Money On Your Home Loan
- How To Save On Your Home Loan
- eChoice Loans
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question