Getting the perfect home loan that suits your needs can be more than a little difficult when you do not use a Mortgage Broker.
Analysing your financials or tax returns, researching banks and rates, applying for government incentives and grants all the while getting pre-approval and negotiating for the best interest rates and amount you can claim can be stressful process, and eat into your time like nothing else. Not everyone is an expert in dealing with their financials, and mistakes can be easily made where you don’t gain the best loan for your needs, despite all the work you put into it.
This is where a mortgage broker can help you – by giving expert advice in their industry, assess your payslips or financials, do the legwork, and offer you the best loan, saving you time, frustration while giving you the best loan they can offer.
Mortgage broker – Flexibility with appointments
If you’re a little stretched with time with work and family commitments, mortgage brokers are generally willing to keep themselves flexible, making appointments when it’s convenient for you and your needs. You can decide what time and place is best for your own timetable, including after work-hours and weekends, so that you can keep the disruption to your life at a minimum.
A Mortgage broker saves you time by doing legwork for you
Finding the perfect loan for your needs is easy with a mortgage broker, as they will do all the legwork for you, and support you throughout the entire process. From application to settlement, your mortgage broker can do all the paperwork of your loan for you, including sourcing pre-approval and searching for eligible appropriate government grants and incentives that you can apply for. This doesn’t mean you will be distanced from this process; your mortgage broker will keep you up to date with your application. This frees your time for a better things – like finding the perfect home for you and your family.
A Mortgage broker – Pre-qualify Your Application
Every time you’re rejected from a home loan, you leave a mark on your credit history. Having a bad credit history only hurts your chances for good loans in the future. You can help prevent this by utilising a mortgage broker. Expert mortgage brokers have specialised software that has access to the latest loan information across a variety of lenders. They then match this information with what you’ve provided them – with your needs, individual finances and situation, as well as your personal goals with this loan. This lets the mortgage broker know what your borrowing power is, and what lenders would be most willing to accept your loan conditions. Such software increases your accuracy in succeeding with your loan applications – avoiding bad marks in your credit history from too many failed attempts.
Comparisons made easy
Going straight to the bank opens you up to a very limited view of what loans you can actually get. No bank loan manager would ever advertise the better rates of their competitors. That’s where research comes in – and in a busy lifestyle, this is the area where searching for a quality loan may take a hit, and you might come out with information that doesn’t perfectly suit what you want, but it’s the best you can do. Mortgage brokers are experts in their industry and field – and they will spend the time to explore not only your individual financial circumstances and goals, but connect that with the best lenders for your situation. This lets you identify the best options for your needs.
Mortgage broker = Expert Advice
Having an expert that is experienced at assessing the various subtleties within a loan can drastically to your bottom line. A home loan is so much more than interest rates – factors such as your ability to make extra repayments, or having access to loan offset accounts can be defining factors in how you select your loan. Especially if you’re not an expert in loans, having a specialist beside you to support and walk you through the pros and cons can be valuable ensuring you have the best home loan for your needs. Experienced mortgage brokers have an additional bonus of having dealt with many clients that have given them feedback on how different loans have performed – giving you the benefit of someone who will know what loan will perform best for you.
It’s not always the case – but many mortgage brokers get commission from banks when the loan is settled. This means that a lot of the time, home loan services can be free of charge for you – so you can gain all the benefits above at zero cost.
If you’re struggling with your home loans, don’t struggle alone. Try contacting an experienced mortgage broker to help you not only save time so you can focus on your daily life, but get the best loan and rates for the best, sustainable future for you and your family.