![]() |
A Guide to Selecting a Mortgage Broker in AustraliaOnce you have made the decision to buy a home you will need to obtain mortgage financing for your purchase. Until about fifteen years ago buyers had to go directly to banks to obtain loans and shopping around for the right fit was a long process. Mortgage Brokers are experts in home loans who will consider your financial situation and financing requirements and then shop around for various lenders to find the best possible deal on financing for your purchase. Because mortgage brokers understand the loan process and the criteria used by lending institutions in evaluating borrowers they are able to make sure your loan application is completed correctly the first time resulting in a much smoother process. This can ultimately lead to faster approval. In addition they have access to hundreds of loan products with many different lenders resulting in the flexibility to find the best possible loan and interest rates for your situation. It is no wonder mortgage brokers now write about 30% of all mortgages in Australia. Your mortgage broker will not only find you the best rates and programs based on your needs, they will also help you understand the process, and if necessary negotiate on your behalf if you have less than perfect credit. It is recommended that you shop around for a mortgage broker that you feel comfortable with. You can often complete a small questionnaire online and someone from the mortgage broker will contact you to discuss what they have to offer. Be sure to apply to multiple mortgage brokers online and don't be afraid to ask questions including how they get paid and what their fees are for particular loan products. It is important to choose a mortgage broker that is a member of the Mortgage Industry Association of Australia (MIAA) or the Finance Brokers Association of Australia (FBAA) because they have certain professional standards they must adhere to. There is much more to choosing a mortgage broker than finding the one which quotes the lowest interest rates. You may find that one has the lowest interest rates but is charging too much in hidden fees. It is important that you shop around and choose a broker with a good reputation. Your professional real estate agent can be an excellent source for obtaining names of potential mortgage brokers. Also, try asking friends, family or co workers who they recommend. Everyone feels better doing business with companies who are recommended by people they trust. Copyright 2005 by Robert Scott, LoanSense.com.au Robert's LoanSense website is dedicated to helping Australian borrowers get the best possible deal on a Home Loan in Australia. If you are looking for a home loan be sure to review the information on using a Mortgage Broker to find the best loan for your situation.
Today's refinance rates move higher – August 8, 2022 Bankrate.com Mortgage Refinance Volume Plunges 80% -- but Could You Benefit From a Refinance Today? The Motley Fool Current National Refinance Rates: July 18, 2022—Current Refinance Rates Drop – Forbes Advisor Forbes Impac Mortgage Slashes Staffing Levels By 48% – NMP National Mortgage Professional Top Originator Spotlight: Inlanta Mortgage's Dave Hartman Mortgage Professional 5 Tips For Paying Off Your Mortgage Early House Digest Title company 2Q earnings are a mixed bag National Mortgage News I Have an 808 Credit Score but It Took 3 Tries to Refinance My House Business Insider A Friend Asked Me to Cosign a Loan. Here's Why I Said No The Motley Fool Should You Take This Piece of Dave Ramsey Advice Now That Mortgage Rates Are Higher? The Motley Fool Trends in Mortgage Refinancing Activity Freddie Mac Today’s best mortgage refinance deal? 15-year rates are the lowest available | June 6, 2022 Fox Business Best Mortgage Refinance Companies of July 2022- Compare Refinance Rates | U.S. U.S News & World Report Money Refinance Calculator Bankrate.com Mortgage refinancing: Should you do it? Mortgage Professional Today’s 30-year mortgage refinance rates hold, but for how much longer? | April 4, 2022 Fox Business When to Refinance Your Mortgage Business Insider Today’s mortgage refinance rates: 20-year rates hold below 5% for fourth straight day | July 27, 2022 Fox Business Today's mortgage refinance rates: 3 key rates sink to money-saving levels | Jan. 24, 2022 Fox Business Home refinance options for 2022 The Mortgage Reports Still time to lock in lower rates: 30-year mortgage refinance rates edge down | March 4, 2022 Fox Business Today's 30-year mortgage refinance rates hold steady, 3 others inch back up | March 25, 2022 Fox Business Today's refi rates fall – July 18, 2022 Bankrate.com Refinancing a reverse mortgage: What to know Fox Business Today’s Mortgage Refinance Rates, July 19, 2022 | Rates Stay Lower with Federal Reserve Action Looming NextAdvisor Today’s mortgage refinance rates: Steady shorter terms offer best savings chances | March 17, 2022 Fox Business How to refinance your mortgage, a step-by-step guide The Washington Post Savings window opens wider: 30-year mortgage refinance rates dip again | March 31, 2022 Fox Business
|