Loan qualifier software
Mortgage Choice's unique software provides our customers with a quick answer to some of their key questions: 'Which lenders do I qualify with?' and, crucially, 'How much can I borrow?' The amount can vary significantly from lender to lender, even though your financial circumstances are the same.
Your Mortgage Choice broker will enter details about your requirements and circumstances just once, and within seconds our software checks the lending criteria of our wide panel of lenders. Then you can compare and contrast the results on one screen.
Your broker will be paid the same commission* regardless of which lender's home loan product you choose, so the lenders are presented to you in alphabetical order without any bias or weighting.
Our software also lets you talk about 'what if' scenarios with your broker: What if you paid off your credit card? What if you had a larger deposit? What if your parents go guarantor? You can quickly see what you need to do to increase your borrowing power and open up a range of new options.
Once you have chosen a lender that meets your needs, our software switches across to examine that lender's product offering. As you look through the features you will be able to compare and decide which product is right for you. Beyond evaluating the rates and fees there are other features that may be important to you. Do you want to be able to make extra payments? Do you want an offset account? What sort of penalties apply if you pay out the loan early? Do you want to access funds through Internet banking?
On one screen you can compare the features of the products and drill into the details that matter to you. When you find a product that you want to consider your consultant can print out the details for you to take with you. If you are interested in more than one product the information will be presented in the same format to make it easier to evaluate options.
Once you and your broker have decided on a loan that suits you, Mortgage Choice takes care of the rest of the application process in a matter of minutes.
* This information refers only to loans provided by our panel of lenders with whom Mortgage Choice has an arrangement, under which it receives commission and other payments.