Mortgage Brokers – Features & Information You Need
When you are searching for the best home loan you want all of the expert help and advice you can get and when you work with Home Loan Finder rather than a traditional mortgage broker you are getting unbiased advice and assistance because we did not collect commissions over the life of your home loan and we allow you to deal directly with your lender from the beginning. Whether you are looking for your first home loan or your fifth home loan features, eligibility, and of course interest rates and fees are always changing and it makes sense to navigate towards finding the best home loan for you with the help of someone who knows the way because they do this every day. While you may be outstanding at your day job, your day job is probably not focused on the home loan market and so when you start looking for a loan you want to be working with someone who does spend their days patrolling the home loan market to understand the latest features, changes and information on the best loans; someone like a mortgage broker.
Features of Traditional Home Loan Brokers
Mortgage brokers have become prevalent in the home loan industry and many buyers seek the help and advice of a home loan broker to help them compare and find the best home loan from amongst the literally hundreds of different loans on offer. A traditional home loan broker will not charge you a fee but will meet with you when you first decide you want to buy a home and will ask you about your income and expenses as well as your other debt to give you an accurate calculation of the amount that you can borrow. A mortgage broker will then also ask you about your situation and your aims for the property to help them gauge the features you are likely to need and want, cross of those you don’t need and don’t need to pay for as well as help you find a loan which will suit you now and into the future where the year are looking to upgrade and sell in three years and so need a loan with portability or affordable exit fees, or whether you intend to make just the minimum repayments over the term of the loan and can benefit from a more affordable basic home loan. Home loan brokers will then make a suggestion about the home loan they think will best suit you and will give you a rundown of how the loan works and how you can use it. Your mortgage broker will then organise the paperwork with the lender and you then meet with the broker again to finalise all the paperwork. What you may not know or be told about traditional home loan brokers is that:
- They have an incentive to sign you with one of their lenders. A mortgage broker, while being able to offer you a range of home loan products, does not offer you the choice of all home loans on the market. This is because mortgage brokers have arrangements with certain lenders and those lenders pay your mortgage broker a trailing commission from the interest you pay on your home loan for as long as you have the loan. This means that some mortgage brokers can be more inclined to recommend a home loan from a big bank which pays them larger trailing commissions.
- You may not ever deal with your lender before you become a customer. While the fees, features and interest rates of home loan are important considerations are home loan is also a long-term financial product and so you need to be sure that the lender you are choosing is easy to deal with, friendly and can answer your questions whatever they may be. In the case of working with a home loan broker you may not ever even enter our branch or speak with a lender representative during the application process because you are dealing through your broker. This does not give you a chance to speak face-to-face or even over the phone with the people who will be managing one of the most important investments you will ever make.
The Home Loan Finder Differences Are In the Detail
While Home Loan Finder is able to offer you home loan brokering services similar to a traditional mortgage broker we offer a unique differences which you will not find anywhere in the financial or home loan industries such as:
- Advice on home owner grants and concessions.
- Help with applications and eligibility for homeowner grants or concessions.
- Advice on negative gearing for investment properties.
- Advice on interest rates and the interest-rate cycle to help you choose a fixed, variable or split options.
- Competing calculations to help you know how much you can borrow and more importantly how much you can afford within your current budget, accounting for any emergencies, changes in circumstances and allowing you to keep to a savings plan.
- Organising a meeting in your own home with the lender you choose with the help of our recommendations.
- A one-off fee if you choose to go ahead with your home loan, and no trailing commissions charged on your loan.
- Home loan interest rate guaranteed to be lower than that offered by any mortgage broker because rather than paying us commissions your lender simply discounts your interest rate.
To find out more about how Home Loan Finder is leading the way in more inclusive, fairer and more affordable home loan brokerage services contact us now.
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- Acquiring Online Information for Hobart Home Loans
- Home Loan Features
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- Mortgage Brokers Benefits
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