You may be novice or experienced property investor, you may decide to go your way through the property purchasing process but I bet that will be can be difficult .In order to get a best mortgage deal you don’t have to spent a penny,just you need to find a good mortgage broker .
He can save you a bundle of money on your home loan. There are lots of options or you can check and compare yourself . Following questions may be helpful to get the good advice but you need to do little home work , you should listed out clearly your income and funds available to you from all sources, your tax returns, your previous loans.So these are here
- How do you decide which loan is best suited to my personal situation? How much of a deposit do I really need to obtain a loan?
- Dose taking loan impact will my credit card limits have on my borrowing capacity?
- What are different fees which will incur when taking out a home loan like establishment or processing or file charges etc ?
- What are features of loan and how it is different from others option you want me to select? Is there any catch or hidden clause?
- I have preapproval loan from other bank but now my circumstances has changed ,How should i go forward ?
- What are the documents or information do I need to provide for mortgage?
- Is there any early exit fee or can I transfer it to another lender?
- What are the procedures that I need to follow in order to obtain my finance and settle my loan?
- Can I choose to fix my interest rate in at a later stage?
- What is Lenders Mortgage Insurance? Which lender offer the least if I have less than20% upfront payment
Last but not the least, If your want to check the approved broker, You can Search Australian Securities and Investments Commission’s Register or to use MFAA website to find an approved credit adviser
Usually A mortgage broker gets paid by the banks but it depend on you and broker and he can provide you competitive rates, expert advice, hassle-free loan… so Happy Home Hunting.I would highly appreciate you if you add some questions which may help some other property hunter ..