Choosing the best home loan isn’t all about finding the lowest interest rate; our mortgage brokers understand that. We can help you identify the ideal mortgage solution for your situation by connecting you with MFAA or FBAA-approved home loan specialists. We only partner with the best-rated mortgage brokers in Australia so that home buyers can find more home loan options.
Narre Warren is growing each year. It’s a multicultural family-friendly suburb in Melbourne’s south and home to one of the nation’s largest shopping centres. There are parks, great schools and it’s just 20 minutes from the beach. It's affordable too, with the median price for houses in the area at just $600,000 and apartments at an average of $400,000.
Why find a mortgage through a broker when I'm buying a home?
Our mortgage brokers partner with a wide range of lenders, so they can find a wider choice of products and features than a bank can offer. That equates to many different solutions and features, which brokers know how to use to save you money.
Brokers assess your mortgage needs, your finances and your plans to identify the ideal mortgage option. They can draw from a deeper reservoir of finance providers to do that. They'll start by comparing all the best owner-occupier home loans out there, then tailor a solution to meet your needs.
Different owner-occupiers have various priorities and situations. For some, a straightforward low-interest home loan might be the ideal solution. Others might have savings they can use with an offset account to reduce their loan term and cost. If they’re buying a fixer-upper, they could use a redraw facility as a cheap form of borrowing. It depends very much on the individual, and that’s what a mortgage broker is trained to assess.
I’m buying my first home. Can a Savvy broker find me a mortgage?
Yes – many first-time buyers use mortgage brokers because the advantages are two-fold. Firstly, you get access to more specialist home loan products and features, like guarantor home loans, low-deposit mortgages, and family pledge loans with a range of repayment options like fixed interest rates, variable-rate, and even split-rate repayments.
Secondly, our mortgage brokers will guide you through the home loan purchase from start to finish. They will help you prepare the right paperwork, submit the application for you, and do all the communicating until your loan gets settled. Particularly valuable if it’s your first time buying a home.
Can a Savvy broker find mortgages for investors?
Yes – our mortgage brokers help many property investors and second home buyers each year using purpose-designed products. They’ll help you compare hundreds of different investment loan options, and they can also access features like interest-only repayments. You can even fund the purchase of a second home using the equity in your current property by using a line of credit feature.
Narre Warren is an excellent place to consider buying a second home. Weekly rents for houses average $400 and units make $350, with a rental yield of 4.5%. Nearly 27,000 people live in the suburb, and 23% are tenants.
Can a mortgage broker get me a loan for a new build home?
Yes. If you’re building a house on one of the many new developments in the area, talk to a local broker about a specialist house and land package home loan. The lender will release the funds to buy your block, then as the build gets further, they’ll pay the developer interim payments until the house is complete. If you’re not yet ready to start construction but you’ve found the perfect site, consider a vacant land loan.
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.