Looking for the best of both the beach and easy access to Sydney's CBD? You’re not alone. Cronulla is full of houses and apartments with stunning ocean views, surrounded by local stores, cafes, and restaurants.
From there, the next step you should take is to seek out a fully licenced mortgage broker – and Savvy can help with that. We partner with the best MFAA or FBAA-approved home loan specialists in Australia so that buyers everywhere can get expert help when they borrow.
I’m buying a home. How will a broker help me find the lowest mortgage interest rate?
Primarily, talking to a mortgage broker allows homebuyers to get more for their money. That’s because our brokers partner with dozens of different lenders, so they can access hundreds of versatile products, features and get more competitive interest rates than any single lender or bank can offer.
Cronulla is almost unique as a beachside suburb near Sydney that can be reached quickly and easily from the CBD by train. The journey takes about an hour, and that means the area is populated primarily by city workers.
It has its own culture and a relatively young, family-oriented feel about it. It’s an idyllic place to live, combining the best of what Sydney has to offer with the beach, local shops, cafes, and conveniences. The median price for houses in the suburb is around the $2 million mark, and apartments can be purchased for about $800,000.
When you discuss your aims and situation with your mortgage broker, they’ll apply very local expertise to the task of sourcing you a low-interest owner-occupier home loan – using a national reach. Local licenced brokers source products from the big banks, plus both local and national mortgage lenders to bring you more choice and cheaper home loan rates.
Brokers can talk you through the various merits and drawbacks of innovative features like split-rate home loan repayments, show you the difference between a variable and fixed-rate, plus offer cost-saving solutions like redraw facilities.
Can Savvy mortgage brokers help first-time buyers?
Absolutely. Brokers work best when they’re matching lenders and home loans with borrowers and first-time buyers are no exception. As well as guiding you through the complexities of a home purchase, they’ll help you identify local stamp duty concessions and available state grants. Our brokers target lenders, products and add-ons that help you make the most of your budget, including:
- Low-deposit home loans, which let you borrow up to 95% of the cost of your new home.
- Guarantor mortgages, which allow a family member to provide security for your home loan when you wouldn’t qualify alone.
- Family pledge loans, which let a relative vouch just for a portion of your loan, or for the deposit.
- Professional package home loans come with occupation-based interest discounts – perfect for saving money on your first home.
What can a Savvy mortgage broker do for investors?
Cronulla has about 18,000 residents, around 34% of which live in rental residences. Investors in the area enjoy weekly rent of $850 on the average house and $500 for apartments. Capital growth in the suburb is strong, averaging around 12% per annum.
Brokers take a lot of the time, effort, and hassle out of dealing with a property purchase. They’ll help you organise your paperwork and the application, then chase everything and everyone up until your loan gets settled. Many brokers work outside of office hours to get a deal over the line. They can also access investor-specific products and features, including:
- A comprehensive range of investment home loans from a variety of lenders.
- Interest-only repayments allow you to repay just the interest on your home loan if you’re using a capital growth strategy, for instance.
- Line of credit facilities for using capital in your existing portfolio to fund a further purchase or pay for repairs.
What’s the best way to find an approved mortgage broker?
When you enquire with Savvy, there’s a quick, simple form; then, we’ll connect you to the best mortgage brokers. We carefully screen all our partners so you can be sure you’ll only speak with qualified, licenced brokers who have an excellent track record for helping homebuyers. Local brokers can access a selection of low-interest specialist home loans, such as:
- Self-employed mortgages if you run your own business. Compare hundreds of cost-effective options.
- Reverse mortgages for retirees let you access equity in your property later in life.
- Home loans for doctors provide an occupation-specific solution for saving money when you buy a home.
- Foreign income home loans – New South Wales has its fair share of residents who still earn income from businesses and property overseas.
- Hundreds of home loan refinance solutions with low-interest rates, a full choice of innovative features, and flexible repayment options.
Your home loan options
Making your first big step towards buying a home? It's crucial to be across your mortgage options as a first homebuyer.
Opting for a variable interest rate on your home loan means it'll fluctuate as the market moves throughout your repayment term.
On the other hand, fixing your rate locks it in for a pre-defined period. This can bring with it greater certainty around your budget.
It's important not to set and forget when it comes to your home loan. If you find a more competitive offer, it may be worth refinancing.
If you're looking to build a new house, construction loans are specifically designed to cater to the different needs associated with doing so.
A guarantor essentially acts as a safety net for your lender, as they sign onto your loan to agree to pay it off should you become unable to do so.
Purchasing a property as an investment brings with it different specifications from a lender. It's crucial to know what your options are.
Businesses big or small may wish to purchase a property for commercial purposes, which are also different from a standard loan.
Your home loan may give you an interest-only option, which allows you to exclusively pay interest on your loan for a set period.
Just because your finances may be slightly more complicated as a self-employed individual doesn't mean you can't take out a home loan.
Some lenders may allow you to apply for a home loan with alternative documents, such as tax returns, BAS and ABN registration.