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Mortgage Brokers Nowra
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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.
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.
There are several options for purchasing a property without a cash deposit, such as equity in another property if you or your guarantor own one.
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