Des Nation
Mob: 0412 709 700
Andrew K Rankin
Mob: 0439 066 696
Des Nation, local Mortgage Broker for Penrith ,StMarys and Surrounds since 1998
Hi, Thank you for visiting my site, We at Mortgage Choice Nepean now have 4 staff to assist all enquiries for Home Finance, Investment Finance as well as Commercial properties and insurances .
We've operated from a shop in Queen St StMarys since 1998 and have been able to assist over 2500 clients in that time.
My team are dedicated to providing service beyond expectation and will leave no stone unturned to ensure you buy your dream home, buy that important investment property or simply ensuring you have the best Mortgage product to suit your needs at the best rate available.
IN A NUTSHELL WE ACT FOR OUR CLIENTS NOT THE LENDERS.
Please direct any enquiry to our office on 02 9833 8177 or 0247 330055
How to choose a home loan
Here are 5 essential tips that you should consider when choosing a home loan:
1. Interest rates
Interest rate is obviously important, but remember that you are not simply looking for the home loan with the lowest interest rate because there are many other considerations.
For example, the mortgage lender with the ‘best’ interest rate may have high ongoing fees and therefore your home loan may cost you more in the long term than a similar one with a higher interest rate.
Be sure to consider ‘break and switch’ costs as well because if you decide to pay out your home loan or refinance before time will you be charged exorbitant fees to do so.
Also, be wary of an introductory rate. It may be ‘cheap’ at the start but it may also revert to a much higher rate after once the introductory term has finished. You should try to negotiate an interest rate discount with your mortgage lender over the longer term.
2. Features and flexibility
What are the home loan features that you need? Home loans with the ‘best’ interest rate may not have all the features you need or be as flexible as you need it to be. For example, do you want the ability to pay extra so you can prepare yourself for future rate rises and also create a buffer if your financial circumstances change?
You also need to consider the accessibility of your mortgage lender in terms of ATM, internet, face-to-face contact, etc. Decide what you need and ask whether your chosen home loan lender has the features available.
3. Consider the current home loan approval times
Is your home loan approval time critical? If so, the lender with the ‘best’ home loan may not be able to get your loan approved in time. During peak processing periods, lender service times can vary between 2 to 20 working days.
4. Compare home loan products
Visit a reputable mortgage broker with more than 20 lenders on their panel. This way, you can research and compare a broad range of home loans and lenders all within the one visit.