Mortgage Brokers Lismore

1. What type of home loans can you find?
Lismore is blessed with a broad range of property options occupying a wide selection of price points. While that’s great news for different homebuyer types, it can make comparing low interest mortgages and choosing the right one challenging – but a mortgage broker can help identify and then talk you through the best repayment options, including:

• Fixed-rate home loan repayments are excellent for keeping tabs on expected monthly outgoings because no matter what happens with things like the economy, your monthly repayment stays the same.
• Variable-rate home loan repayments can rise and fall when other factors like the national cash rate do, but they have fewer fees than fixed-rate repayments so you can use more add-ons
• Split-rate home loan repayments allow buyers to use part variable and part fixed repayments so you get the best of both worlds. There are fewer fees on the variable side of your loan and fixed repayments on the other.

2. What experience do you have, and are you a licensed mortgage broker?
A good mortgage broker uses industry knowledge and connections to make your home loan more affordable and convenient to arrange. Savvy partners with trusted and proven local home loan brokers that are approved by either the Mortgage Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). That means, when you connect via Savvy, you’ll find only carefully vetted and fully qualified mortgage specialists in Lismore.

3. How many lenders can you access?
The more loan providers your mortgage broker deals with, the greater chance of finding the ideal structure, terms, and interest rates you’ll have. Most reputable mortgage brokers partner with dozens of lenders and can source hundreds of different products and features for borrowers.

4. Will I qualify for a home loan?
One of the first steps a home loan broker takes is to figure out which products and lenders to target based on your financial situation. You’ll stand a better chance of having your application approved with a good broker on the case.

5. Can you help with associated costs and arrangements?
Mortgage brokers don’t just help with finding cheaper home loans and applications. They’ll advise about stamp duty, grants for first-time homebuyers and be a go-between when it comes to the vendor’s solicitors during the purchase. They’ll help make sure all your paperwork is in order and that you understand all the associated costs like transfer fees and lenders mortgage insurance if that applies.

6. How long will the mortgage application process take?
Most home loan applications take around a month. Your mortgage broker should be able to advise you if they recognise any potential snags in your case.