Mortgage Brokers Nowra

Why using a Nowra mortgage broker makes sense for home buyers, how they help you access your ideal home loan.

Last updated on April 26th, 2022 at 09:58 am by Bill Tsouvalas

Mortgage Brokers Nowra

Looking for a mortgage broker but want to ensure you find a reputable one? Savvy only partners with MFAA or FBAA approved and licenced home loan specialists. Find the expert help you need before you sign up for a mortgage, get help with your application, and save money.

Nowra is located on the southern shore of the Shoalhaven River about 150km from Sydney. On the northern banks of the river lies Bomaderry, and the twin towns represent a population centre that rivals nearby Wollongong for numbers. The town is a thriving one, home to the Royal Australian Navy’s one and only airbase. It’s full of family neighbourhoods, has excellent amenities and is just a 15-minute drive to the beautiful local coastline.

How do I know a mortgage broker will act in my best interests?

Our mortgage brokers always act with the best interests of the borrower at heart. They begin sourcing the best solution for your specific needs by comparing a comprehensive range of low-interest, owner-occupier home loans. When they’ve identified the most cost-effective options, they’ll discuss your goals and narrow that down based on what you want to achieve.

Any good broker aims to make the process more straightforward, but they’ll look to make your mortgage useful throughout the entire loan term. Success is largely about matching home buyers with products that work from day one and then continue to provide what you need during your ownership.

90% of brokers are paid purely on commission after you take out a loan, and they’re paid by the lender, not the borrower. What’s interesting is that brokers don’t receive their full commission as soon as you take out a loan. They get part of it once you sign up and what’s called a ‘trail’ commission some time later.

Mortgage brokers don’t receive that part of their commission if you end up refinancing the loan in the meantime, so brokers are extremely motivated to find you not just the cheapest home loan available at the time, but a product that meets your needs as a borrower moving forward, too.

How will a Savvy broker find me the most cost-effective mortgage?

Brokers work with a broad selection of finance providers like major banks, non-bank lenders, and even local institutions like credit unions. That gives them access to more products and better interest rates.

The work of a broker is all about personalising the cheapest home loan possible, which could entail choosing a basic mortgage with fixed-rate repayments or could also extend to selecting specialist mortgage products from the start, including:

  • Home loans for first-time buyers: Nowra is an extremely accessible market for first home buyers. Houses in the area have a median price around $500,000 and units sell for about $450,000 on average, although cheaper examples can regularly be had. Our brokers can access a range of specialist solutions for first home owners, like low-deposit home loans with fixed or variable-rate repayments, guarantor mortgages, and family pledge loans.
  • Property investors: The town represents excellent value for second home buyers and more seasoned investors, with houses fetching an average of $400 per week and apartments or units renting for around $300. It has about 9,000 residents with a high proportion of renters (38%), so it’s a great choice for landlords. Local mortgage brokers can provide access to lenders offering hundreds of investor specific home loans, options like interest-only repayments, and cost-effective finance features like lines of credit.

Can a Savvy broker help me qualify for a mortgage?

Absolutely. The work of one of our mortgage brokers won’t stop with finding the most cost-effective option. They’ll help you prepare any relevant documentation, ensuring your application goes quickly and smoothly. Then, they’ll stay on the case right up until your lender settles the loan.