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Getting your first home loan can be intimidating, but having someone by your side who understands the market can be a real confidence booster.
What is a mortgage broker?
Home loans are our bread and butter, so what can we do for you?
What is a mortgage broker?
The role of a mortgage broker is to guide you through the home loan journey and help you choose the home loan that suits your individual circumstance. That’s important because while there is no shortage of loans to choose from, finding the time to compare even a fraction of the loans available could be incredibly time consuming.
That’s where an Aussie Broker comes in.
We work closely with a panel of lenders^ — from the big banks, to the smaller lenders you may not be as familiar with — to ‘shop’ the home loan market for you. But, a broker’s job isn’t just about comparing home loans. They stay on top of market trends and changing lender requirements, so you don’t have to.
Even before you are ready to buy a home, a mortgage broker can offer valuable support by explaining the home buying process and answering your questions.
Why use a mortgage broker?
How does a mortgage broker work?
Some people choose to stick with the bank they already have accounts with — but they could be missing out on a competitive home loan deal elsewhere.
Broker’s have up to date knowledge of the home loan market — different types of lenders, new deals, the strings attached to a low rate loan, and more. This just means your mortgage broker can find competitive deals that are right for your needs, present you with the options, and help you avoid more expensive or unsuitable loans.
How do mortgage brokers get paid?
An appointment with a Aussie Broker is free, our brokers are paid by the lender after you get your loan.
The lender rewards the broker for bringing them new customers by paying them a commission.
How does a broker help me get my loan approved?
As a home loan expert, your mortgage broker knows what it takes to get your home loan application over the line with the right lender.
They’ll explain any steps you may need to take to tidy up your finances before applying for a loan, and identify any possible red flags that could work against you. They’ve helped many others and know what to look for — chance are, they could find something you may have missed.
How to prepare for your meeting with a broker or bank
It’s never too early to start planning for your first home. If you’re at the very beginning of your home buying journey, just bring along a list of the questions you’d like to ask.
If you’re closer to buying a place of your own, it’s a good idea to gather together some documents that could give your mortgage broker a better idea of where you stand financially. After reviewing your documents, your mortgage broker will also be able to explain any steps you could take to help your home loan application get the thumbs up with the right lender.
With the support of your broker, you’ll be well-placed to understand more about how buying a home works, and what you can do to start making your property goals a reality.
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