Caulfield Mortgage Brokers
Your Local Mortgage Broker Caulfield will search through hundreds of home loans to find the ones that match your requirements.What a Broker should do for youWhen you first meet with a broker, they should always start by asking you to explain your entire finance situation, including future plans. Little things can make a big difference to making sure you get the right home loan for your situation now and with flexibility for future changes. Have your key documents on hand to refer to when meeting with the broker so you can give the most accurate details to ensure you get the right home loan. Your broker should:
- Discuss and confirm loan options in writing
- Explain all documents of the loan application and help you to complete them
- Explain the loan process, from application to closing, and point out all associated costs and fees of the loan application
- Communicate with you throughout the loan process in a timely manner
- Follow up the lender for you from application through conditional and on to unconditional approval
- Negotiate with their lender/s to achieve the best deal
How Much to Borrow?How do you the amount a bank will lend you? Basically, the amount you can borrow is determined by assessing your income and existing financial commitments using their own lending criteria. Key factors which influence your borrowing capacity include your net income, number of dependents, credit card debts and existing loan repayments. With interest rates falling, more potential home owners are coming forward to see if they can now afford to buy a home.
Can I get a loan without a deposit?Many lenders require a deposit and none are offering no-deposit home loans currently. Due to the global credit crunch, lending has become much stricter. These products may come back to the market once financial markets improve. While no-deposit loans can be a good option for some borrowers, remember that you will still have costs such as stamp duty, property valuation costs and legal fees that you should save funds for. Check and compare interest rates as most no-deposit loans attract higher interest rates and fees than a standard home loan, and there may also be some restrictions placed on the loan.
Your Local Caulfield Mortgage Broker can help you with any type of property, and all home loans. Fill out the form below, or call us on
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