Providing a tailored home loan solution for you
We work tirelessly to find a personalised home loan deal for you – whether you’re buying your first home, investing in a commercial property, or needing a bit of extra money for renovations.
We aren’t attached or affiliated to any one bank, instead we work with over 30 lenders (not just banks) across Australia to find the right mortgage options for you.
Refinancing or finding and purchasing a property is a complicated and sometimes emotional decision. Many buyers find their dream home, but realise they must commit immediately or lose the opportunity of a lifetime. What is more, many don’t know, or are daunted by, the home loan process. If you are looking to buy a property, would you know what is required to secure your finance, or have any idea of the long-term commitment of making such an important financial decision?
Here are the six easy steps that will guide you through the home loan process, and with a little preparation and organisation, you will be able to minimise the headaches and speed up your mortgage application.
1.Find a broker
By meeting with a professional mortgage broker, you may save yourself a large amount of time, effort, and even money in finding the most suitable product and organising your home loan.
2. Analyse your financial situation
Prior to meeting with your mortgage broker, do some research on how much you may be able to borrow and do a general search on what features and products are available.
3. Gain loan pre-approval
Obtaining a loan pre-approval can speed up the mortgage application process, and could mean the difference between obtaining your home loan and missing out altogether.
4. Your loan application
This is where it gets tricky so it is a good idea to have your mortgage broker on hand to help you maintain and manage the process.
5. Your loan approval
Once the lender has approved your loan application, you will receive a loan offer letter which sets out the legal conditions that apply to your loan.
The day has finally arrived! The forms have been processed and your lender will be sending a letter confirming the transaction details
More information on home loans
By meeting with a professional mortgage broker, you may save yourself a large amount of time, effort, and even money in finding the most suitable product and organising your home loan. We are here to listen to your needs, recommend lender products that match your situation, explain your options, and assist with the paperwork. The services offered may vary so it is recommended to use a mortgage broker accredited with the MFAA, who has high service ethics and the minimum education standards of a Diploma in Financial Services as some only require their brokers to hold a Certificate IV in Financial Services (Finance/Mortgage Broking).
It pays to check if your broker is accredited with industry bodies MFAA and FBAA.
What makes a MFAA Mortgage Broker a cut above the rest?
- Access to a broad selection of loan products from various lenders
- Qualified industry professionals, able to provide expert advice
- Tailor flexible solutions that meet your circumstances
- Fair and ethical service, practicing strict code of ethics
- All 101 Mortgage Brokers have the reputation of being an MFAA member
By doing a little homework you may gather some idea of how much you can borrow and the terminology of some products on offer. It will also prepare you for questions you will be asking your broker when you meet. Remember, there is no such thing as a silly question when it comes to finance!
As your mortgage broker we can assist you to work out how much you can and want to borrow but you should do some initial budgeting. Don’t forget to factor in those additional costs that you will be paying including solicitors fees, moving costs, service connection fees and insurance.
Use calculators to get an approximate idea of what you can afford.
- The estimates you obtain through online calculators may vary from the actual amounts, depending on numerous factors, so only use them as a guide.
- The most important factors in considering the amount you can lend will be your income, deposit, other financial commitments, interest rate and value of the property being purchased.
- Take into account current income and commitments, perceived needs in the foreseeable future, and changes in your family situation that could affect ability to service proposed borrowing such as maternity leave.
The Australian Government’s First Home Owner Grant (FHOG) was introduced in July, 2000.
- As your mortgage broker we will be able to go through the further details with you and assist you with your eligibility for the FHOG. For further information, visit First Home Owners Grant online.
Research and learn more about home loan terminology, costs and features of loan products in the marketplace to boost your knowledge.
- Loan Types
- Product Features
- Fees, Cost and Charges
- Type of Lenders
Write down any questions you may have. Make sure you clearly understand the situation so that you can make an informed decision. Contact us if you have any further questions, we are here to assist you.