How can a Colo mortgage broker help me?

You can save yourself a great amount of hassle, effort and frustration by using a home loan broker. Trying to decide what type of home loan, and which lender to choose, is a big decision as a mortgage is usually a lot of money.  A mortgage broker can help sort through the loans available, from lenders such as Commonwealth Bank or Citibank and find one that will match with your circumstances and financial goals.  When it comes to getting approval, having an experienced broker on your side will work in your favour.  A mortgage broker can track your application, chase up any extra paperwork needed by the lender, as well or organize settlement on your behalf.  And once settlement is completed, your mortgage broker will continue to track your mortgage and notify you when new products become available on the market that may benefit you. Basically, a good mortgage broker is your home finance contact for life.  Especially when considering first home owners grant.

What will my Colo mortgage broker do for me?

Mortgage brokers are not there to only find you a home loan but also work with borrowers to assist with documentation to support the loan, help with the completion of paperwork, submit the loan application with the lender you choose and follow up with the lender during the loan application process.  Your broker should keep you informed throughout the entire loan process, and explain anything that is unclear.  A great home loan broker will remain with you throughout the loan to offer you assistance. 

Why don’t Colo mortgage brokers charge for their services?

The services of a mortgage broker are usually free, instead brokers are paid a commission by the lenders.  The rate on your home loan is still the same regardless of the commissions paid to the broker so you can be sure you will not pay more on your home loan.  This means that you can get assistance with your home loan application, whilst still be confident that you are getting a competitive home loan.

Can’t I just go directly to my bank?

Wouldn’t you rather spend your lunch breaks actually eating?  Do you have weekends free to spend glued to the internet comparing prices, or out visiting dozens of lenders?  By using a mortgage broker you save yourself having to call, visit and compare dozens of lenders and their products.  A good mortgage broker will listen to your financial goals, consider dozens of home loan products then find the best matches for you.

What if I want to re-negotiate my existing mortgage?

Many borrowers consider re-negotiating their current mortgage, either when a fixed loan term ends, or simply as a way or unlocking some of the equity in their home.  These negotiations can be daunting to some people, even if you usually have a good relationship with your lender.  A mortgage broker can negotiate on your behalf and help you to get the best deal possible.  Getting a good mortgage is easy if you have someone who understands the market, so talking to a mortgage broker who deals with mortgages every day, makes sense.