There’s a lot of information to process and decisions to make when entering the property market. Find out how a mortgage broker can help.
If you’re full of giddy enthusiasm at the thought of buying a property then you probably haven’t yet reached the sobering realisation that there is quite a bit of work involved (sorry to burst your bubble!).
Before you enter the housing market, there’s a heap of home loan product research to get through – and let’s not forget all that paperwork that needs to be done so you know exactly how much you can borrow and what you can afford. And all this before you find yourself that cool little pad.
Researching the different home loan products on offer and trying to determine just which one is right for you can be an overwhelming task if you don’t have cool software that cuts through the clutter to match your needs with a suitable home loan.
And let’s be honest here – research and paperwork is seldom any fun.
Now, if you’re like me and enjoy delegating the number crunching part of the home loan process, it makes sense to get in touch with a mortgage broker who can make it all a lot easier. And if you indulge me as I state the obvious, why pull your hair out doing it all on your own when you don’t have to?
I know you’re chomping at the bit to find out what a mortgage broker actually does so we’ve put together this cool little video to give you the low down.
So how do mortgage brokers help get you into the property market?
Mortgage brokers help you do the home loan paperwork by first fully understanding your needs then researching and comparing the hundreds of home loan products on the market to find the one that is right for you.
Mortgage brokers also support you through the application and settlement processes so you’re never alone – something that those taking their first steps into the housing market will find particularly beneficial. They can even help you with any relevant government grants that could be applicable to you.
Aussie mortgage brokers use exclusive comparison software called Toolbox to search through an extensive panel of lenders that include the big banks, so they can find the home loan that’s just right for you.
To put it another way, think of mortgage brokers as the travel agents of Home Loan Land. Say you’re looking to go on holiday (ie. get into the property market) and you want to find the right flights (ie. home loan). You could spend your spare time, weekends and ad breaks between tv shows doing all the legwork yourself OR you could skip the headache and speak with a travel agent (ie. mortgage broker).
So instead of feeling the pressure of having to sift through hundreds of mortgage products yourself, a mortgage broker can help, allowing you to focus on the fun stuff like going to inspections and picking paint colours. Bonus!
Are you still saving for your first foray into the housing market, or are you ready to snag yourself an investment property? Tell us what’s on your property wish-list for this year in the comments section below.
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