Why Do You Need Our Mortgage Broker Cashmere?

If you wish to experience wildlife and live in a clean, family-friendly suburb, then Cashmere is your best bet. A 25-minute drive from Brisbane, this neighborhood is superb for walking and biking to experience the beauty of nature. There are lots of rivers around the area too, which are great for swimming or canoeing. The local dam is only a few minutes up the hill to spend some time fishing or even hold your own BBQ. There are lots of great private schools in the neighboring areas as well, and your drive home would be like traveling to the country and is a great way to unwind after a stressful day at work or school. Sounds like your cup of tea? Then go ahead and have an appointment with our mortgage broker Cashmere today!

What Can You Use Mortgages For?

Mortgages refer to the method used to get a loan from lenders with collateral for security. These are huge players in the financial market and mortgaging is a very in-demand business. This is also why more and more people are entering this field to help others obtain the funds they need.

Generally, your property’s worth dictates the amount of mortgage you’ll receive. Various lenders are available in the market today and mortgages can be given either by banks, financial institutions, and other financial sectors.

Most people apply for mortgage loans to buy or build residential or commercial properties. But you can also get these to fund your business, marriage, and others.

What Kinds of Mortgages are Available?

Most of us can’t afford to buy a home without help from lenders and banks. If you’re looking to buy a property but don’t have the budget yet, you may see home loans as your next best friend.

However, with a lot of options in the market today, lots of borrowers find it hard to choose what’s right for them. So in this post, we’ll talk about the different types of loans our mortgage broker Cashmere can help you with:

Variable Rate Loans

These are the go-tos of most homebuyers. These depend on the Reserve Bank of Australia’s ever-changing cash rates and the constant fluctuation of interest rates. Meaning, you can have high payments in one month and low payments in the next.

Yes, these seem risky. However, most borrowers still choose this type since it allows them to repay their loans in a variety of ways. Also, if we ever find you a more appropriate loan, switching products is easy as most lenders don’t charge an extra fee.

Fixed-Rate Loans

This loan locks-in your home loan interest for an agreed number of years and usually has a higher rate than the current variable. This also means there’s a fixed amount you have to pay each month.

Our mortgage broker Cashmere recommends these loans if you’re on a budget since you don’t need to worry about whether you can repay the loan or not. But, aside from the higher mortgage rate, you’ll find it pricey to change to another loan as most lenders charge a break-cost fee.

Guarantor Loans

Want to borrow more than 80% of the purchase price but don’t want to pay the mortgage lender insurance? Then try guarantor loans. Simply ask your parents or a close family member if they can be your guarantor. If they agree, a part of their house will be your collateral. These loans are ideal if you’re a first-time buyer eager to enter the world of the property market.

Interest-Only Loans

These loans mean skipping from paying the principal and just focusing on paying the interest rates—for now. These are popular among mortgage broker Cashmere clients who are property investors hoping to have negative gearing or if you’re looking to make a profit by reselling your property (as long as it won’t depreciate.)

These are also perfect if you’re a low-income earner or a young home buyer who doesn’t have a lot in the bank yet. These loans typically last for 7 years before going back to the “traditional route.”

Line-of-Credit Loans

This, along with your current mortgage, is your best bet if you’re planning a home renovation. Also known as “home equity loans,” these allow you to take advantage of your loan and use it for other expenses. The amount is based on your property’s equity and can be used either in a lump sum or bit by bit.

However, our mortgage broker Cashmere won’t recommend these if you’re an impulsive buyer. This is because once you’ve drawn from your line-of-credit, you need to make repayments right away to compensate for the amount you borrowed, or else your loan term will be extended.

Investment Property Loans

The requirements for this loan are stricter. Firstly, you need to show that your remaining funds are sufficient enough to take care of the mortgage. Plus, lenders may also require that your remaining funds are higher compared to if they were for a home loan.

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

Lastly, the lender can also consider your property’s potential for appreciation during the loan. This is why you’ll need to check the information about vacancy rates and the trends in housing prices as these will play a big role once the property gets assessed.

Why are the Services of Our Mortgage Broker Cashmere Helpful?

For several years, there was less competition among financial institutions as borrowers were only tied to their banks. But a lot has changed since then and they’re now taking their time comparing institutions to get the best deals. This led to the profession we now know as mortgage brokers. We help people get loans from lenders to fund their next projects.

We’re required to have an Australian Credit License (ACL) or be a credit representative of a licensee (aggregator.) This serves as your protection if ever a lawsuit happens.

We Explain How the System Works

Do you know the difference between a fixed and a variable rate? Our mortgage broker Cashmere can give this information and even some tips on how to find the right offer. We will help you see complicated things easily and guide you through all the steps until you find the deal that works for you.

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

A mortgage advisor works for the bank and is only concerned about selling you products from that bank even though those don’t fit your needs. Meanwhile, we work independently and compare all products offered by banks to get the funding that you need—in short, we work for you.

We Negotiate with Financial Institutions

First off, our mortgage broker Cashmere can’t lend any money. But, we’ll act as a “middleman” between you and different lenders to help with the funding of your project. This means you don’t need to talk to the banks yourself and therefore, save time.

We know the specifics of each bank and will guide you toward the product that suits your criteria. Our goal is to help you find the most competitive rate based on your current situation. We’re known as good negotiators too, to get the best loan terms that align with your goals and budget.

We Protect Your Credit Score

When it comes to filing loans, banks and financial institutions have their own criteria as to what’s acceptable and what’s not. If you shop for loans from different banks without our mortgage broker Cashmere, your credit rating will inevitably get tainted even if only one gets rejected.

We prevent this from happening by dealing with banks using your financial information alone and never your identity. This way, we’re more likely to find you a good product while protecting your credit score.

We Ensure Administrative Tasks are Taken Care Of

Want to skip on using a mortgage broker? Then be prepared to file a lot of paperwork! We’re here to take care of the documents you need to present to save you from stress.

One common document is the credit pre-authorization or the document that lets you know if you can get a loan or not. It also tells you an estimate of how much you can borrow.

Our Mortgage Broker Cashmere Prevents You from Making Risks

You probably have very little knowledge about mortgages and you’re not even a professional in this field. So why allow yourself to deal with the headache? Our job is to differentiate all the products from different financial institutions. We aim to help you avoid taking risky steps that can cost you a lot.

For example, a common mistake made by borrowers is choosing a product with a low rate without even looking at the conditions attached. Our job is to review and analyze these conditions and explain them to you so you won’t end up in a bad place just because you were misinformed.

Why Should We Be Your Next Mortgage Broker Cashmere?

There are various home loans and lenders out in the market today. That’s why as your broker, we’ll give you access to numerous offers and lenders to make sure you end up with the product that suits your needs. We believe there’s no “one size fits all” type of loan and we’re here to guide you through the whole process. It doesn’t matter if you’re an investor, first home buyer, or looking to refinance your loan. We’ll make sure to do all the work for you and keep you informed all the way so you’re never left in the dark.

Cashmere is a great suburb to live in if you want to escape the hustle and the bustle of the city. And while it’s not that far from Brisbane, you’ll certainly feel like you’re transported to a different place once you get there. There’s wildlife everywhere and the birds are chirping from dusk to dawn! The streets here are very safe that you can confidently let your kids out to play with their friends. The locals here are very friendly too, with very little crime.

Think this place perfectly describes your dream neighborhood? Then go ahead and book with a mortgage broker Cashmere today!