Mortgage Brokers Pakenham

Don’t get a mortgage until you’ve spoken to a broker in Pakenham. Find a cheaper, smarter home loan solution
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, updated on August 8th, 2023       

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Find a better, savvier way to get a home loan by talking to a mortgage broker. Enquire with Savvy and find only fully approved, licenced local home loan specialists. Mortgage brokers help homebuyers source cheaper, more convenient home loan options. They also help prepare and speed up mortgage applications and provide advice about all aspects of the home buying process.

Pakenham sits about 60km south-east of Melbourne’s CBD and offers a combination of neat, modern housing and a countryside feel. That makes for a great environment to raise kids, and the area has excellent amenities, plus easy access to the Dandenong Ranges and the Yarra Valley.

What happens when I speak to a mortgage broker through Savvy?

  • First, your broker will try to get a clear picture of your finances and what you’d like to do. For some, that’s a straightforward mortgage, but for other homebuyers, they might have longer-term plans to pay down a home loan early or a shorter-term plan to refinance, for instance.
  • Once your broker knows a bit about you, they’ll look at relevant lenders and compare hundreds of low-interest home loans to find the best one. Brokers tend to deal with dozens of different finance providers, giving them access to hundreds of options.
  • After that, it’s a case of customising your home loan to your preferences. This is where the mortgage broker will take account of any additional aims or priorities you have beyond just finding the cheapest interest rate. Some repayment options, for example, are often cheaper in the shorter term but can prevent you from accessing additional mortgage features, so one of the first jobs will be to work out whether you should choose fixed or variable-rate repayments.
  • When their mortgage solution is fully tailored to your needs, our brokers help homebuyers to prepare for a home loan application. They’ll help you tick off the correct paperwork to reflect your eligibility, making sure you prevent delays during your eventual application.
  • Home loan brokers know the lenders they partner with, so they can be extremely useful during an application and typically speed things up. When you’re ready to proceed, they'll guide you through the process, ensuring that everything is submitted correctly. They’ll stick with you until everything is approved and your home loan is settled by the lender.

Can I buy land with a mortgage broker?

You can. Pakenham is a hotbed of building activity, with many new estates springing up in the neighbourhood all the time. There are two primary borrowing options when you want to build a home:

  • House and land package home loans are for when you want to buy a block and have a developer build you a house off the plan. Lenders settle these home loans in stages. The first part is for the land, and then they release further amounts as the build continues. Construction typically needs to start within ninety days of your purchase with one of these loans.
  • Vacant land loans come with slightly higher interest rates because they apply purely to land, not what you want to build. You’d need to get another loan later when construction was ready to start, but that offers an advantage. There are no time limits with a vacant land loan, so it means you can secure a site as soon as you find one and before you’ve saved a home loan deposit, if necessary.

What other types of homebuyers do Savvy's brokers find mortgages for?

Our brokers can access a wide selection of specialist home loans and help just about any buyer, including:

 
  • Investors and second homebuyers can benefit from a profitable Pakenham rental market where more than a quarter of the almost 50,000 residents are tenants. Weekly rents for houses and units are $370 and $320, respectively. Our brokers can compare specialist investment home loans from dozens of lenders to find your ideal fit.
 

Owner-occupiers flock to Pakenham for its new, affordable housing, open spaces, shopping, and schools. Mortgage brokers can help you access specialist home loan features like redraw facilities – great if you intend to renovate or want a cheap source of borrowing for a host of other purposes. They’ll also talk you through the benefits of an offset account if you have savings and would like to pay your home loan down early.

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