If you believe seeing a mortgage broker will take up too much time, think again. We explain six ways a broker can fast-track the home loan process, and help you into your new home sooner.
When you’re in the market for a new home, you’re probably prepared to devote plenty of time finding the place that’s right for you. Makes sense, after all your home isn’t just a place to live in, it’s also a valuable investment and it needs to be just right for you.
But how much time are you allowing to find the home loan that’s right for you?
In our busy lives, time is something we never seem to have enough of. But it’s equally important to find the right home loan for your perfect property. Thankfully, there are experts that can save you time by doing much of the hard work for you.
Here are six ways your mortgage broker can save you time, making the home loan process quicker and easier.
Mortgage brokers have the answers for you
Information is everything when it comes to making a thorough home loan comparison. But you also need to be able to understand all that information! There’s so much jargon that if you’re a first home buyer, about it can all get a little overwhelming. But in a rapidly evolving mortgage market even seasoned home owners can face a few uncertainties.
Your mortgage broker is an expert who takes the time to answer all your home loan questions and explain exactly how everything works. It’s information that could prevent you making a costly mistake – like applying for a loan that doesn’t match your needs or has a higher interest rate than you need to pay.
Mortgage brokers can compare thousands of loans…in minutes
Thousands of different home loans are available Australia-wide so there’s plenty to choose from. The downside is that it’s going to take some time to sort through even a fraction of the home loan products on offer.
Sure, comparison sites can help but there’s a lot more value in speaking with your Aussie Broker. That’s because a comparison sites doesn’t provide all the detail you need to make an informed decision.
You could find a loan that seems to offer good value on a comparison site only to discover you’re not eligible to borrow through that particular lender. At that point you’re back to the drawing board, and time has been wasted – not saved.
A mortgage broker saves you time by using specialist software to compare a wide selection of loans in minutes. And because your broker works closely with a panel of lenders, he or she can explain which lenders are most likely to approve your loan application, saving you the disappointment of applying for a loan you’re likely to get knocked back on.
Your broker can also provide home loan calculators to show how much you’ll be paying in loan repayments across a variety of interest rates – handy information to manage your home loan long term.
Mortgage brokers can help you fill out the paperwork
Filling out the paperwork for a loan can seem daunting, and you need to be sure you get it right. The beauty of using a mortgage broker is that along with helping you find the right loan, your broker will help you complete the loan paperwork, from pre-approval to settlement.
Simply provide proof of ID, details of your income and other supporting material, and your mortgage broker will take it from there. It means more time for you to find your dream home.
Mortgage brokers will keep you informed so you don’t need to follow up
A mortgage broker provides a single point of contact for your loan. Your broker will keep you in the loop about how your loan application is progressing, and if you have queries at any stage, your broker is just a phone call away. It beats getting the run around from banks when you’re trying to track what’s happening with your application.
A good mortgage broker will also liaise with other professionals involved in your home purchase including your solicitor or conveyancer, so you won’t waste valuable time coordinating the settlement of your new home.
Mortgage brokers will meet you when and where it suits you
Taking time off work to meet with a lender isn’t easy, and you shouldn’t have to eat into precious annual leave to meet with banks to talk about home loans.
Mortgage brokers understand this, so they offer the flexibility to meet with you at a time and place that suits you – maybe your home, office or a local café, and after-hours and weekend appointments are no problem. Some will even do appointments via Skype or over the phone.
It saves you driving around town to organise a home loan, and it means you won’t cop glares from the boss when you’re back late from a lunch hour spent at the bank.
Mortgage brokers will help you strategise how to reduce your loan term
A good mortgage broker is on your side, and eager to help you get ahead with your home loan. Your broker can explain strategies to cut time from your loan term, and show you how to use a mortgage calculator that can show the impact of extra repayments to pay off your loan sooner.
Talk to your Aussie Broker today to discover just how much time you can save – and enjoy peace of mind knowing your home loan is as right for you as your new home.
You may also be interested in 5 things I wish I’d known before buying (without a broker), All in a day’s work: What an Aussie broker can do for you and Real stories of how Aussie Brokers can make a difference to your life.