Mortgage brokers can help you find the ideal borrowing option for your needs when you're searching for a new home to purchase. Find out what they do, how they give buyers more choices, save them money and speed up the home loan process.
Savvy partners only with FBAA or MFAA-approved home loan specialists all over the country. We select the best candidates based on their results for homebuyers and industry expertise. You can connect quickly and easily with a local broker by enquiring on this page.
Why should homebuyers talk to mortgage brokers?
Whenever we’re set to make a major purchase, it makes sense to look at as many options as possible, which is what our mortgage brokers do for homebuyers. Their job is to source the cheapest home loans around, talk you through the application process, before liaising with all the parties involved to bring about a faster resolution.
In short, using a Savvy broker should get you into your new place cheaper and quicker with a much more useful home loan product than if you did everything yourself or went straight to your bank.
Can my Savvy broker access mortgage types for different budgets?
Yes – our mortgage brokers need to have access to a comprehensive selection of lenders and products. That’s primarily because the local home buyers come from all sorts of backgrounds and have a full range of budgets, jobs, and property goals:
- Space for the family:
Richmond is close enough to the city to have a real buzz, but it’s far enough out to have its own distinct vibe. It has space but it’s by no means a new suburb, with its roots in the working-class Melbourne of yesteryear. That means there are houses with decent yards, front and back, if you’re looking for a low-interest home loan with fixed-rate repayments to buy a family pad. Over the years, many of its old warehouses have been converted into ultra-cool loft apartments, and that’s reflected in what’s typically available to buy.
- 15 minutes for commuters to the CBD:
Given it’s such an easy journey to the CBD (just 4 km and 15 minutes on the train), the suburb is the ideal location for a mix of home buyers, including city workers who can benefit from professional package home loans which offer interest discounts based on your occupation. You can also choose from some great self-employed home loan options with a low variable interest rate – or go for fixed if you want something more predictable.
- First-time buyer friendly apartments:
That being said, you can still pick up first-time buyer priced apartments for under $500,000 – which is crazy given its proximity to the city. First-time buyers can benefit from using a family pledge loan to get help when a family member wants to supplement their down payment and a broker can help with a range of options for low-deposit home loans.
I’m an investor. Can a mortgage broker find me a great deal?
Yes – the attraction to Richmond is certainly not lost on renters either. This neighbourhood is walkable to the MCG, packed with all sorts of bars and restaurants and full of places to shop – and you can still rent a unit or apartment for about $420 per week.
Bearing in mind canny investors can still pick one of those properties up for under $500,000 and get close to a 5% yield, it’s worth asking a local broker about specialist mortgage solutions. They’ll be happy to help you compare hundreds of investment home loans along with a range of features that make managing a second home easier, like interest-only repayments, split-rate options, redraw and line of credit facilities and offset accounts.
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.