Mortgage Brokers in Melbourne - what you should consider before making your mortgage choice.

May 13, 2013
Michael Dornan

The process of making your perfect mortgage choice can appear like a huge quagmire for first timers. It is possible to make decisions based on your emotions and not on reality. However, there are vital points that you will have to bear in mind before finding Cheap Home Loans in Australia.

One of them is being ‘in the know’ about the costs involved in purchasing. There are several types of fees you will need to pay, and knowing about them well in advance will help you to make the right decision. Top of the list is the legal fees that are used to set up the loan. It is also advisable to do a pest inspection, and this will come at an extra cost but is worth it for peace of mind. You may also need to pay loan establishment fees, depending on the lender. You may need to pay for the valuation of your new property, and for mortgage insurance. Renowned investment author Stephen Zamykal recommends in his book ‘The Investment Property Plan’ that if you know these details ahead of time, you will be better placed to make a decision on the type of investment to make. Such information will also help you know where to buy your property from. It is said that knowledge is power and that is quite true. For instance, did you know that there is a first home buyer grant which is aimed at ensuring that as many Australians as possible are able to enter the property market? For this and more information, go to

Investment Loans in Australia are aimed at making it much easier to own your own property. Nonetheless, you need to remember that it is a loan, and you are bound to pay back. Therefore, you need to be aware of all expenses and consider the situation thoroughly before committing yourself to any course of action, considering the fact that you will be borrowing hundreds of thousands of dollars.

Posted in: Financial planning

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