Home Loans - what you need to know
Whether you are buying your first home, refinancing or investing, your local South Plympton Mortgage Choice broker can help you with expert advice throughout the whole home loan process from application to post settlement, all at no cost to you.
At Mortgage Choice in South Plympton, we pride ourselves on being your local home loan expert, someone you can depend on to work hard for you. We get to know your personal situation and then we work with over 25 lenders, including the big four banks, to find the best deal for your individual situation.
How Does it Work?
Step 1: Meet with Lauren Parsons
Lauren will meet with you to understand your financial & lifestyle goals. She will search through hundreds of home loans from over 25 lenders to find the loan that's right for you, calculate your borrowing power, disucss the loan type you're after, work out repayments and answer any questions that you may have.
Step 2: Prepare the application
Once Lauren has helped you choose the loan that's right for you, our team will help you prepare the application and guide you through the process. We will then lodge and track the application on your behalf.
Step 3: Conditional approval
The lender will provide conditional approval while they organise the property valuation and conduct a credit check. Our team will stay in touch with the lender and keep you informed along the way.
Step 4: Unconditional approval
Unconditional (full) approval is formal acknowledgement that your home loan application has been approved.
Step 5: Complete loan documents
Most lenders will send your loan documents to you direct to complete via DocuSign. Lauren can help talk you through these answering any questions you may have.
Step 6: Loan settlement
If you're purchasing a property, your solicitor or conveyancer will organise settlement directly with the lender, according to the settlement date on the contract of sale. If you're refinancing your existing home loan, the lenders will liaise directly with each other to exchange the documents.
Step 7: Home loan completion
Our service doesn't end once your loan settles. We will stay in touch to make sure your home loan is the right solution for your needs for now and in the future.
Different Types of Home Loans
When shopping around for a home loan, you will need to work out what type of home loan will best suit your situation. There are a number of different types of home loans available that the lenders offer including:
- Variable Rate Loan (Principal & Interest)
- Fixed Rate Loan
- Split Rate Loan
- Interest Only Loan
- Line of Credit Loan
- Construction Loan
- Bridging Loan
- Non-Conforming Loan
- Lo-Doc Loan
- Introductory
Remember, the different types of home loans each have various features that appeal to different borrowers. The key is to have the type of home loan that is right for your circumstances, and this is where we can help.
We're here to help!
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Get the right home loan for your needs
Our mission is to find the right home loan for your individual needs and to always have your best interests at heart. Plain and simple. Which is why we have such a wide range of lenders to choose from. We can search through hundreds of products to find something tailored to your situation. ~
