Mortgage Brokers Dandenong
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Why take a chance on one lender when you can compare more home loan products and find better interest rates with a mortgage broker? Home loan experts work with lenders offering hundreds of products to find homebuyers the most cost-effective, convenient borrowing solutions for buying a home. Connect with a local licenced home loan specialist through Savvy and see how much you could save.
Dandenong is young, vibrant and there is plenty going on – but it’s far enough out of the city to have its own character. Even though you can get to the CBD by train in less than 40 minutes (under half an hour by car), average house prices are only about $600,000, which makes it the best of both worlds for a lot of people. You can find units and apartments for even less than that, weighing in at around $350,000, which is great value.
What happens when I use a mortgage broker?
Mortgage brokers take up far less of your time than if you handle a home loan application yourself. On the phone, via email or in person, they’ll get a picture of your where you’re at and what you want to buy. After that, they’ll search a broad panel of lenders to find the best low-interest home loans. Then, they’ll look to customise a mortgage to meet your needs.
Your broker will help you decide between fixed-rate or variable-rate home loan repayments. They’ll look at what you want to achieve, your broader financial situation and recommend additional options based on that. There are many pros and cons to weigh and potential cost implications when you’re buying a home, and using a broker makes it a lot easier to find the best way forward.
What do I get from talking to a Savvy mortgage broker?
It’s pretty simple – you get a cheaper, more personalised home loan, not just an off-the-shelf option like you do when you visit a bank or another lender. That’s mainly because our brokers partner with many different finance providers, ranging from the big national banks to local non-bank lenders, too. That means local brokers can see more products, which equals more competition, and it all results in lower costs.
That’s just half the mortgage broker equation, though. They also know their industry and the lenders that operate in the home lending space so they can target specific finance providers for each client. It makes qualifying for a home loan more straightforward and quicker, and if there are any hitches, brokers are on hand right up until your home loan is settled.
What other features can a mortgage broker in Dandenong recommend?
For some homebuyers, their circumstances will dictate opportunities to create additional benefits. When that happens, your mortgage broker can turn to many available home loan features, including:
- Redraw facilities are a way to access the equity in your home that you’ve built up by making extra repayments.
- Offset accounts get linked to your mortgage, and any money you keep there reduces the part of your loan balance that’s subject to interest. Some home buyers knock years off their mortgage this way.
- Line of credit facilities are a way to use the equity in your home that’s built up over time. It’s typically a lot cheaper to borrow this way than with a personal loan because a home is the best security a lender can get.
- Split-rate repayments are a way to get a fixed rate on part of your mortgage but use features and extra repayments on the other side. You could use a redraw facility like this, for example.
Your home loan options
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