Which Is Better – A Mortgage Broker Or Lender?
If you, as a home buyer, are satisfied in your own mind that you know which financial institution you want to approach in order to obtain a home loan and you are confident you are able to fully comply with the requirements of their specific lending criteria, by all means go ahead and sign up for that particular mortgage. It will save you from much emotional stress and time consuming running around from lender to lender trying to sort through all the various home loans in order to find one that suits you the best.
Aussie Mortgage Brokers
Enjoy a flexible range of options and low interest rates with Aussie Home Loans. Compare home loans from up to 16 major lenders, including the big 4 banks.
Aussie can compare hundreds of home loans to help find the best possible deal for you. It’s a free service and you get to see all the features of a loan, like exit fees and penalties, as well as the rates.
Aussie has been named Mortgage Broker of the Year by AB+F magazine for a record fourth year in a row.
If however you are not so easily pleased, you can still obtain the right home loan, at the right price but with the added knowledge that a proper search has been done before you are introduced to the final product, then you will have engaged the services of a mortgage broker. This approach will also have you experiencing satisfaction, no unnecessary expending of emotional stress and no time consuming searching through the infinite number of home loan products on offer in today’s highly competitive home loan market.
Unless you enjoy some inside knowledge of the home loan industry, or if you are willing to ‘trust your luck’ with a lender of your own choice, you should engage the services of a mortgage broker, who, because of their experience, training and inside knowledge of the industry can put you at ease while they undertake the ‘hard slog’ on your behalf.
A mortgage broker will represent your interests as he or she goes about searching through the multitude of home loan products for the one particular home loan that best suits your specific needs. This search will be undertaken through the products on offer from dozens of lenders and if necessary they will further negotiate a better deal than that advertised, if they feel such negotiations are warranted.
A direct approach to a lender however will only result in you being offered one of the loans which that specific lender has available, there will be no way he or she will advise you to go to another lender, even if a better deal is known to be available somewhere else. It will also be hard to negotiate better terms than that being offered, as you will not have the same leverage of being able to just ‘walk away’ as does a mortgage broker who has many lenders to choose from. Having a mortgage broker to represent your interests over a large number of bank and non-bank lenders puts you in an enviable position. He or she can argue your point as to you being a good risk. Such an assertion always carries more weight when coming from a third party than it does when being put by the applicant yourself.
Mortgage Choice Home Loan Health Check
There are new home loan products released to the Australian market all the time and the loan which was right for you when you bought your home, may not be right for your now. Use the Mortgage Choice Home Loan Health Check service to find out if there is a better loan product out there which could save you years off your mortgage, and interest off your repayments.
- Interest Rate of
- Comparison Rate of
- Application Fee of
- Maximum LVR With LMI:
- Minimum Borrowing: $0
- Maximum Borrowing: $0
This ‘arms length’ assuredness is a very important feature of being represented by a mortgage broker when a deal is being brokered on your behalf. Your mortgage broker will gather all the necessary information from you that will be required by the various lenders, all of which differ in some way concerning their individual requirements. A mortgage broker will prepare a professional presentation that they will put to the lender on your behalf and in the meantime you will be able to sit back and enjoy the experience.
Many potential American home buyers have watched in dismay as the recent Global Financial Crises (GFC) unfolded. They watched on helplessly as large lenders such as Fannie Mae and Freddie Mac had to be thrown a lifeline by the Federal Government. Not to mention the similar fate handed out to Indy Mac. Home buyers were entitled to ask if there were any loans left that they could avail themselves of. The days of going it alone were gone and they looked to the mortgage broker for answers.
Mortgage brokers are the experts in the home loan industry and if any home loans were out there surely they were the group of people who could find them. They were not to be let down as although the choice of home loan is not as prevalent as it was before the GFC and lending criteria has been somewhat tightened, a good mortgage broker can go a long way to getting you what you are seeking, a means to find a suitable home loan in order to be able to purchase a home of your own.
The role a mortgage broker has to play in American life has not diminished as a result of the GFC, it has been enhanced, as although suitable home loans are harder to come by, the specialist in the field, the mortgage broker, is there to represent your needs to what is presently available in a rather hard nosed and demanding sector of the American economy.
Related posts:
- Concern Over Motivations For Home Loan Lender Choice
- Aussie Mortgage Brokers
- Homeside Mortgage Broker
- Mortgage Brokers Disadvantages
- A Guide On Things You Must Ask Your Mortgage Lender
- Aussie Home Loans
- Eurobodalla Coast Mortgage Brokers – New South Wales
- Hunter Valley – Lower Mortgage Brokers – New South Wales
- A Guide on What to Ask Your Low-Doc Lender
- Hunter Valley – Upper Mortgage Brokers – New South Wales
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