Making it easy to get a pre-approval
1. The approval process :
As your local mortgage broker in the Eastern Suburbs of Sydney, we compare hundreds of home loans from over 30 lenders, including the big four banks, to quickly narrow down your choices to the ones that best suit you. If you decide to go ahead with an application, I will prepare all of the paperwork and support you through the entire process.
I'll determine your borrowing capacity and affordable repayment amount. Additionally, I can assist you in obtaining pre-approval for your home loan, ensuring you can confidently search for your ideal home within your budget.
Start your pre-approval journey today
2. Variable or Fixed ratehome loan ?
Though we can't predict future economic changes or interest rates with certainty, we can provide you with valuable insights into the advantages and disadvantages of locking in your home loan rate.
- Variable rate home loans tend to be more flexible, with more features (e.g. redraw facility, ability to make extra payments); fixed rate home loans typically do not.
- Fixed rate home loans have predictable repayment amounts over the fixed term, variable rate home loans do not. If you get out (“break”) of a fixed rate home loan term, you will usually be charged significant extra costs.
3. How to save for a home loan:
Whether you're starting with no savings or have been diligently saving for years, we can assist you in assessing your options. Some lenders may even enable you to purchase a property with minimal savings if a family member acts as a guarantor. We'll guide you toward homeownership faster.
Typically, it's advisable to aim for at least a 5% deposit, but the larger your deposit, the more you'll save. Establish a practical budget and adhere to it. Saving money requires spending less than you earn. Start by reducing expenses using a budget planner. This method will help your savings grow while ensuring you stay aware of your expenditures.
To prevent impulsive spending, maintain a separate savings account. This greatly reduces the temptation to dip into your savings for unplanned purchases.
4. What do I need to do when applying for a home loan:
The different stages of the home loan process include: an application, verification, valuation, approval and settlement.
5. How do Mortgage Borkers get paid?
1. If you use Tzuri and his team at Mortgage Choice for your home loan - $0. We are paid by the lender.
2. If you use other Mortgage Brokers, ask them to disclose their fees including "clawback".
We work with you to ensure that your budget, goals & strategy for your home loan suit the finance product and lender you choose. We do all the research and shopping around for you, to find the right one with the best rate and features available to you
If you're ready to get started, or have some questions, Call Tzuri and his team on 02 9190 5565
Are you a First Home Buyer? Click here
