Parramatta is Greater Sydney’s second business district and you can connect with mortgage brokers using Savvy for help finding the perfect home loan in the area. Connect with licenced, trusted mortgage specialists fast, save on interest rates and receive help comparing mortgages – without the time and hassle of doing everything yourself.
Can a broker put together a mortgage specifically for me?
A good home loan is one designed around a basic low-cost framework, with features that suit the way you live, work, earn, and your plans. Mortgage brokers don’t work for lenders; they’re independent. They don’t limit your options, and if anything, they’re a sure-fire way to make sure you see as many features and structures as possible.
Home loan brokers act as go-betweens, so they can choose the best products from banks, independent finance providers, and even local institutions like credit unions. They’re experts at helping homebuyers understand and choose the features that suit their aims and needs. Because of that, mortgage brokers can help many different types of buyers with all sorts of home loans and options, such as:
- A broad selection of low-interest owner-occupier mortgages for a cost-effective way to buy houses and apartments with terms tailored to your specific needs
- Fixed-rate home loan repayments for homebuyers who want to pay a consistent amount month-to-month
- Variable-rate repayments, which fall when the interest rate does
- Split-rate mortgage repayments, which let homebuyers choose how much they pay on a fixed and variable interest rate
- Low-deposit mortgages for first-time buyers and lower-income applicants – borrow up to 90% of the value of your home
- Offset account features for using your savings to reduce the cost of a mortgage
- Line of credit home loans for accessing the equity in your home
- Professional package home loans, with interest rate deductions for career professionals
- Home loan refinance – change your home loan terms and features to suit your current situation and goals
- Home loan pre-approval, if you plan to buy at auction or you’d like to know how much you can borrow
- Interest-only investor mortgages as part of a wider property investment strategy
How can a mortgage broker help me save on a home loan in Parramatta?
Mortgage brokers are invaluable when it comes to saving money and time. Working with a home loan professional takes a lot of the guesswork and legwork out of finding your ideal mortgage. They know the products, lenders, and they’ll take the time to find out about you and your aims, too:
- Discuss your goals and situation:
Home loan brokers will arrange to talk with you about what you want to achieve. Whether that’s finding the right investment property mortgage or a home loan for a family house, they’ll quickly form an idea of which products and lenders are right for you.
- Assess and assemble the proper paperwork:
Once your broker know what you want to accomplish, they’ll assess whether you can meet relevant lender qualification requirements and if you might need to access solutions like self-employed mortgages or a guarantor home loan. When you’re ready to apply, they’ll ensure everything is in order to minimise delays.
- Compare more lenders and products:
Our mortgage brokers partner with dozens of different lenders, so they can access a lot more products, features, and interest rates than if you relied on a single lender or bank to offer you a home loan. That can result not only in huge savings, but a better chance of finding a product that fits your repayment preferences.
- Once your application gets lodged:
Your broker won't stop there, though. They’ll stick with you until everything is approved and you’re ready to take possession of your new home. They liaise with vendors, lenders, and solicitors to speed up and simplify the home loan process for buyers.
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.