What do your services cost?
Our service to you is free. We are paid from the lender that you decide to get your home loan with. We will fully disclose to you how much remuneration we will receive.
I’m interstate, can you still help me?
Absolutely. Much of the work in securing your home loan is easily done over the phone and via email, skype/FaceTime. We have clients based in every state and territory as well as overseas.
Are the home loans you offer the same as the banks?
We offer the same home loan products as the banks – with the same interest rates, fees and charges. The difference is we have access to a wider range of more competitive products so chances are we will be able to save you money over the banks. Not only can we match any offer the banks make, because of our variety of lenders, we can often negotiate an even better loan than what the banks will offer.
How much deposit do I need?
It is possible to purchase your home with as little as a 5% deposit – which means you might be able to get into your home sooner than you thought. However, you will still need some money put aside for stamp duty, legal and other purchasing fees. For an investment mortgage, you will generally need a minimum 12% deposit.
How much can I borrow?
Everybody’s circumstances are different – the best approach is to contact us so we can accurately assess your situation.
What’s your best interest rate?
The lowest interest rate doesn’t necessarily mean the best home loan. In fact, the home loan with the lowest interest rate might end up costing you more in the long run.
A home loan with an impressively low rate may lack features that you would like to take advantage of (such as an offset account and redraw facilities), it could include high establishment and/or ongoing fees. It might be the case that the low interest rate applies for a short “honeymoon” period and reverts to a higher rate after the honeymoon period expires. Just because it’s the best rate doesn’t mean it’s the best loan.
What is Lenders Mortgage Insurance (LMI)?
LMI is insurance for the lender to protect itself from defaults by the borrower. If your deposit is less than 20% of the value of the home, you might need to pay LMI.
LMI doesn’t necessarily have to be bad thing – it generally allows you to purchase your home with a smaller deposit, which gets you the keys to your property sooner. Also, some banks will allow you to add the LMI fee to the home loan so you may not need to pay for the fee upfront.
I’m ready to buy a property – what’s next?
Excellent, it’s an exciting time and we’re always happy to meet with you to discuss your goals, answer your questions and develop a plan to help you purchase your property, invest or refinance. Give us a call or shoot us an email. Chances are you’ll be surprised by how easy it is for you to purchase your property.