What Is A Mortgage Broker Warner For?

If there’s one word to describe Warner, it would be family. Located approximately 20 kilometers from Brisbane, this suburb is filled with great bikeways, pathways, and friendly locals that you won’t be afraid to let your kid play outside. Everything you need is also close by—from daycare, charming restaurants, excellent doctors—you name it! Clean and quiet, this friendly neighborhood has nice places and lakes where you can walk around if you need some alone time. It offers a lot of local employment opportunities too, which means you can quickly get back to your family after work for more family time. Does this place sound appealing? If you can imagine yourself living here, then call a mortgage broker Warner today!

Where Can You Use Mortgages?

A mortgage simply refers to the method of acquiring loans with collateral as security. A huge player in the financial market, mortgaging is an in-demand business. This is why more and more people are entering this field to help others get the funding they need for their projects.

Your mortgage will normally depend on your personal property’s worth as payment for the debt. These can be obtained from several sectors including banks, financial institutions, and other financial sources.

There’s a standard method in obtaining mortgages, but the formality and interest rates may vary per bank. The majority of mortgage loans are used for buying or building houses or commercial properties, but these can also be used to fund businesses, marriages, etc.

What Kinds of Mortgages Can Our Mortgage Broker Warner Help You With?

Most of the time, purchasing a house is impossible without help from banks and lenders. If you’re planning to buy a property but don’t have the whole purchase price yet, getting a home loan is your best option.

However, borrowers may find it confusing to pick the right one given that there are several choices out there. So today, we’ll talk about each one in detail:

Variable Rate Loans

The go-to option for most homebuyers, these depend on the constantly-changing cash rates of the Reserve Bank of Australia and the fluctuation of interest rates. Meaning, you can have low payments in a month and high payments in the next.

Yes, it seems like a gamble. But, our clients still prefer this method as it allows them to repay the mortgage in several ways. Also, if our mortgage broker Warner ever finds a loan that’s more suitable to your needs, you can easily switch providers since most lenders don’t charge an additional fee.

Fixed-Rate Loans

Compared to variable rates, these loans give you a fixed amount you have to pay each month. These lock-in your home interest loan for an agreed number of years, and the rates are normally higher than the current variable.

And since it’s a fixed rate, you don’t have to worry about the market’s current status. This is why borrowers who are on a budget choose this loan because they don’t have to worry if they can repay the loan each month or not.

However, besides the higher rates, it’s more difficult to refinance your plan as most lenders charge a break-cost fee.

Line-of-Credit Loans

Our mortgage broker Warner recommends getting this on top of your current mortgage if you’re looking to renovate your home. Also called “home equity loans,” this loan lets you maximize your loan and allot it for other expenses. How much you get will depend on your property’s equity, and it can be used either in a lump sum or bit by bit.

Just keep in mind that this loan isn’t for impulsive clients. Once you’ve drawn from your line-of-credit, make sure to make extra repayments right away to compensate for what you’ve borrowed. Failing to do this will make your loan term longer.

Interest-Only Loans

These loans are a quick escape from traditional loans. From the name itself, you don’t have to worry about paying the principal and only think about paying the interest—for now.

As your mortgage broker Warner, we think property investors looking for negative gearing will benefit a lot from this, including people who want to make a profit by reselling the property (as long as it won’t depreciate.) This will also work for you if you have low income or are a young home buyer without a lot in the bank account. It lasts around 7 years too, before heading back to the “traditional route.”

Guarantor Loans

If you want to borrow over 80% of the total selling price but refuse to pay the mortgage lender insurance, this loan might be what you’re looking for. In this loan, you can ask your parents or close relatives if they can be your guarantor. If they agree, the lender will make a portion of their house as your collateral.

Investment Property Loans

Of all the loans a mortgage broker Warner can help you get, these probably have the strictest requirements.

First, you have to prove that you have enough funds available to repay the mortgage. Moreover, the lender may require the funds you have set aside are higher compared to if they were for a home loan.

Your rental income will be a factor too, since it may be enough to cover mortgage repayments and other expenses. This means the property didn’t actually lower your debt-to-income ratio (or how much of your monthly income goes to the repayment of the mortgage,) which is also considered when applying for a loan.

The third is the potential of your property for appreciation during the loan. You and the lender may need to check for vacancy rates and the trends in housing prices. These, too, are crucial factors once the property is up for assessment.

How Can Our Mortgage Broker Warner Help You?

For a long time, borrowers only belonged to banks and there was lesser competition in the financial industry. 

But, a lot of things have changed and today, borrowers take their time comparing several institutions. This led to the birth of the profession known as mortgage brokers. We help clients obtain mortgages from lenders by securing collateral to fund their next project.

We’re required to possess an Australian Credit License (ACL) or be a credit representative of a licensee (aggregator.) This ensures that you’re protected in case a lawsuit arises.

We Can Explain the World of Mortgaging

Do you know the difference between a variable rate and a fixed rate? If not, we’re able to give you this information as we’re experts in this field. Plus, we can also advise you on how to find the right offer.

Mortgaging is a complex topic so a good mortgage broker should be able to explain things in a language you understand. Our mortgage broker Warner will guide you through all the steps until you find a product that suits your criteria.

You should know the difference between us and a mortgage advisor, too.

A mortgage broker works independently and compares institutions to find a loan they think works for you—in short, we work for you. Meanwhile, mortgage advisors work for the bank and aim to sell you products of that bank even though they don’t necessarily fit your criteria.

We Save Your Time and Money

Banks and most financial institutions are open only during office hours. Meaning, you have to take a day off just to get an appointment—plus, a day isn’t enough since you have to compare and talk with several lenders to get the best deal.

Our mortgage broker Warner will help you with all this. We’ll act as your “middleman” too, and negotiate with many lenders to get the funding that you need. We’re also pretty flexible and are open to meetings with lenders even after office hours to save you a lot of stress.

We Protect Your Credit Score

Financial institutions, when it comes to loan filing, have their criteria as to what’s acceptable and what’s not. If you decide to shop around for mortgages and get rejected even from one bank, it will show on your rating and your credit score will suffer.

We can help prevent this from happening. As a mortgage broker Warner, we work by comparing numerous financial institutions by only revealing your financial information and not your identity. This way, we’re more likely to find the product that you need and protect your credit score at the same time.

We Help Prepare Paperwork

Hate doing administrative work? Then save yourself by getting a mortgage broker! We’ll arrange all the documents you need to save you from all the headaches.

For example, a document you’ll need is a credit pre-authorization. This lets you know if you’re eligible for a loan and gives you an estimate of how much you’ll get if approved.

We Help You Avoid the Pitfalls of Mortgaging

You probably know very little about the mortgage system and you’re not an expert in this field. So why are you confident doing this on your own? Our mortgage broker Warner helps you understand the different products a lender offers to help you from making costly mistakes.

For example, a common mistake usually made by borrowers is choosing products that have the lowest rates—without really understanding the conditions attached to them. A good mortgage broker will dissect these conditions one by one and explain them to you so you won’t end up in a bad place just because you were misinformed.

Your Place Mortgage Brokers: Your Next Mortgage Broker Warner

We aim to help our clients get the property of their dreams. We understand how daunting the thought of buying your first house is, and we’re here to help as your next mortgage broker. We’ll work with you, from start to finish, to ensure that your next property purchase or refinance is thoroughly explained—and hopefully to take some weight off your shoulders! We can also help if you’re in the market as an investor. With access to over 30 lenders and hundreds of loan options, we’ll act as a “matchmaker” between you and the product that will suit your needs.

There’s really nothing you won’t love about Warner. With lots of amenities, schools, and public transport, this small and quiet suburb has everything you need. And aside from the many local employment opportunities available, Warner boasts of its own shopping center where you have access to several medical clinics, banks, and bakeries that give you a fresh, homey feel. Warner also has a lot of sporting areas eager to accept new members, whether you’re young or old.

So if more family time and more time to appreciate life are what you’re looking for, don’t hesitate to contact a mortgage broker Warner right now!