If you’re thinking about buying a home, mortgage brokers can help you prepare, apply, and qualify for a loan with a cheaper interest rate and better features. Don’t sign up for a mortgage until you’ve talked with one of our approved home loan specialists first. Our brokers won’t stop working on your behalf once you’ve applied for the ideal solution. They’ll continue to chase up the lender and monitor progress, right up until your home loan is settled.
Can a Savvy broker help me find a more affordable mortgage?
Yes – Savvy mortgage brokers work to find home buyers the most cost-effective home loan solutions as quickly as possible. While that sometimes means going with the lowest available interest rate, a broker looks at your wider financial objectives to form a better picture of what’s the ideal home loan setup for you. A mortgage broker will first identify the best home loan options out there, from which point they’ll start looking at a structure that suits your specific needs.
- Mandurah is a very accessible area if you’re looking for a family home and want a pretty straightforward owner-occupier home loan. Median prices for houses are under $300,000, which is a steal given its close proximity to Perth. A Savvy broker can discuss both fixed or variable-rate repayments on a range of low-interest mortgages with a bunch of additional available features.
- Rental yields are over 5% for both houses and units in the area. Second home buyers can access specialist home loan solutions for investors and find interest only options as well as features like fixed, variable, or even split-rate repayments and redraw facilities.
- If you’re looking to refinance your current home loan, a mortgage broker can show you hundreds of options with great rates.
Can I buy vacant land or choose a home and land package with a mortgage broker?
Yes – with so much new development currently taking place in Mandurah, our brokers help all sorts of homebuyers find a mortgage for building a new home or dealing with a developer. There are two ways to go about that, and each method will suit different homebuyers. You’ll likely consider at least two specialist home lending options if you’ve been looking at building a new place on the Lakelands Estate, for instance:
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House and land package loan
House and land package loans work well for home buyers who need to deal with a developer.
Let’s say you’ve been looking at an option on the Ocean Hill Estate. When your loan is approved, the lender releases an initial sum to buy the land, then makes further interim payments to the developer as the build progresses.
Interest rates are typically lower than with vacant land.
Settlement happens in stages that align with the build.
There’s usually a time limit for building work to start – typically within three months
Vacant land loans
A vacant land loan is a simple finance facility for buying a piece of land when you’re planning to build a house.
Home buyers buy the land only with this option.
No time limits are involved, so it allows buyers to purchase land now before prices rise further.
Interest rates for vacant land are higher than for completed or in-progress property.
What specialist mortgages and options do Savvy brokers offer?
Our mortgage brokers work with a diverse group of residents in a very active property market, so they need access to a broad range of skills, products, and features:
Every single person out there has different home buying needs, and mortgage brokers are experts at identifying them. While some buyers just need a standard home loan, specialist products and features can save others a lot of money:
- Reverse mortgages for retirees who want to unlock the value of the equity in their home.
- Low-deposit home loans for buyers with lesser down payments.
- Guarantor home loans and family pledge loans for first-time buyers.
- Self-employed home loans.
- Offset accounts for home owners who want to use their savings to reduce the length of their mortgage.
- Line of credit facilities for accessing the equity tied up in your property.
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.