Many home buyers don’t realise just how much they can save by speaking to a local home loan professional. Savvy partners with top-rated specialists all around the country, bringing an easier experience and lower interest rates to more home buyers.
Get on the Bruce Highway and travel almost 1,000 km north of Brisbane and you’ll hit Mackay. Not only does this city occupy one of Queensland’s most beautiful stretches of coastline, but it’s the perfect place to raise a family. It has everything residents need, good employment and the average price of a house is still just under $400,000. If you’re in the market for an apartment, the median cost is only $250,000.
Can I use a mortgage broker if I’m a first-time buyer?
First-time buyers get more than just access to specially designed products like low-deposit mortgages, guarantor home loans, and family pledge loans. They also benefit from getting help preparing documentation and applying, too.
Our mortgage brokers are experts at dealing with state-specific concessions for stamp duty and first home owners grants. Research carried out by the Australian Bureau for Statistics shows that a huge number of successful first-time mortgage applicants use brokers, with around 23% of broker clients being first home buyers. Brokers target repeatable lenders and products, then basically walk you through the process taking care of any issues that arise.
Will I find a cost-effective owner-occupier mortgage with a Savvy broker?
No matter who you are and what you want to achieve, our brokers will work hard to put together the right solution. They can access various owner-occupier mortgages designed for specific purposes, such as:
- Self-employed home loans for home buyers who work for themselves.
- Professional package home loans offer discounts and interest rate savings for some home buyers, depending on their job.
- Reverse mortgages allow retired Australians to access equity in their home during retirement.
- Vacant land loans for buying a block of land when you’re not yet ready to build, for instance.
Owner-occupiers can choose a range of different options for repaying the interest on their home loan. Brokers can talk you through the pros and cons of fixed and variable-rate repayments, plus, there’s an option to use split-rate repayments too.
Can a Savvy broker find me a cheap investment mortgage?
Yes – second homebuyers and local investors can access hundreds of different products and compare investment mortgages from dozens of lenders by talking to a Savvy broker. The city is an excellent place to invest in property, with more than a quarter of the 115,000 residents are tenants and landlords can expect an average weekly rent of $420 for houses and $300 for apartments and units.
They can also help you find cost-effective add-ons like lines of credit, which allow you to use equity in an existing property to fund the purchase of an additional one.
I’m self-employed. Can a broker get me a cheap mortgage?
Savvy mortgage brokers help many business owners find specialist self-employed home loans. They can also source mortgages for casual workers, and if you’re employed on a fly-in, fly-out basis, local brokers can discuss purpose-designed mortgages for FIFO contractors.
Why use a mortgage broker?
Did you know that, according to a recent independent study, only 50% of home loans sourced through a mortgage broker come from one of the big national banks?
The rest come from a wide range of sources that perfectly symbolises the reach of local mortgage brokers and how they promote competition among Australian lenders. When you talk to a home loan specialist with Savvy, you’ll be able to compare home loan offers and interest rates from credit unions, building societies, international banks, and even Independent regional banks. What that means is you’ll find more features and products and have a better chance of qualifying quickly and easily for a home loan.
When you enquire with Savvy, you’ll connect only with MFAA or FBAA-approved mortgage brokers. Don’t be in the dark about the best rates and mortgage deals out there. You can get friendly expert help and through your home loan application much faster.
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.