Many Australians prefer to talk with a broker before they get a mortgage, as not everyone has the time required to compare owner-occupier mortgages. There are many different products and options out there, so it’s helpful to have some guidance. Choosing the right home loan can save you a lot of money during the repayment term, which is why Savvy's mortgage brokers are the best place to start when it comes to finding the right home loan for you.
Our comprehensive network of online brokers means that home buyers everywhere can find trusted home loan specialists, locally or anywhere across the country. We select our MFAA or FBAA-approved specialists based on a proven record of helping buyers access the ideal products and features for making home loans more affordable.
Why use a mortgage broker at all?
Our mortgage brokers help home buyers by assessing their specific situation and offering expert advice and connections to a broad choice of banks, independent finance providers and local institutions. That means you’re likely to find lower rates and more features designed for your aims and budget.
We don't stop at selecting the right home loan for you, though. Once we've narrowed down and discussed a range of options, we'll help you prepare for a mortgage application and pre-approval. That typically leads to fewer problems and delays. Our mortgage brokers work on your behalf right up until the lender settles your home loan, liaising with all parties involved and keeping a check on progress.
Can a Savvy mortgage broker help me choose between fixed and variable home loan rates?
Yes – we can quickly assess your situation and provide advice on how to set up repayments. Not all buyers, home loans, or mortgage interest rates are the same, so choosing the one that best suits what you want to achieve and your budget is important. That can be tricky to juggle on your own, so it’s great to get help from one of our brokers.
Fixed-rate repayments help home buyers budget for the cost of a mortgage because monthly payments never change. Lenders base your rate on their predictions for a number of economic factors. While you’ll benefit from certainty month after month, you could miss out if rates fall dramatically.
Variable-rate home loan repayments fluctuate with the wider economy. When interest rates are low, you get a great deal, but you can pay more when rates rise. If your budget is tight, sometimes it’s best to stick with a fixed rate.
Split-rate repayments offer the best of both worlds, to a degree. Home buyers can repay part of their mortgage on a fixed-rate basis and the remainder on a variable rate. However, because you're essentially splitting your home loan in two, you'll have to pay fees on both.
How does a Savvy mortgage broker help an investor in Warragul?
Warragul offers everything from a wide range of new-build homes to established family dwellings and units – and our home loan brokers can help investors access a matching range of options that suit every ownership ambition:
- We can help you compare a full range of investor home loan solutions.
- Investors can use interest-only repayments as part of a wider strategy.
- Access a selection of competitive investment refinance options.
Despite its relative proximity to Melbourne, median house prices in the area are around $500,000, with units selling for a little over $300,000 on average. There’s an active rental market with singles, couples, and families looking to settle in the area. Investors benefit from plenty of properties changing hands, and houses fetch around $400 per week in rent.
Can a Savvy mortgage broker help me buy a house and land?
Just like with a standard mortgage, our mortgage brokers can help you compare home loan options specifically designed for buying home and land packages.
These mortgages work slightly differently from other home loans. When you locate the package you want to buy, the lender releases the funds to buy the land. Then, as construction progresses, they release further sums to the developer until your new home is complete.
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.