First Home? Here’s 3 benefits of using a mortgage broker
Are you looking to purchase your first home?
A mortgage broker may be the answer to securing your first home loan.
‘Building your first home can be incredibly exciting, but it can also be a little overwhelming,’ says Resolve Finance Mortgage Broker, Sunny Singh, who has over 10 years’ experience in the banking and financial services industry.
‘The financial requirements for building a brand-new home are very different compared to purchasing an established property. It’s best to use a qualified broker with experience in handling construction home loans as this can help make the process as seamless as can be.’
What is a mortgage broker?
Mortgage brokers are financial specialists who compare lenders and home loan products to ensure their clients secure the right deal for them. Their wealth of knowledge and experience means that they can guide their first home buyers through the entire home loan process, explaining the ins and outs of the application and answering any questions you may have.
3 benefits of using a mortgage broker
Finding an excellent broker can mean your home loan journey is an easy and more affordable process. Here are just some of the benefits:
1. Ensure you get the right home loan deal for you
Mortgage brokers specialise in finding the right deal for you and your circumstances. They understand the latest market trends, and they have the specialist knowledge to present you with home loan options that best suit your interests and goals.
This is in stark contrast to heading directly to a bank, that may only offer you their own home loan products.
‘The brokers at Resolve Finance take the time to understand your lifestyle, financial circumstances and objectives,’ says Sunny.
‘For each client, we use our knowledge and tools as construction loan specialists to thoroughly investigate and compare a panel of over 30 lenders, and then pinpoint the home loans with the features and benefits that match your needs.
‘We guide you – presenting the ins and outs of each loan – so you can make a more confident decision.’
2. Saves you valuable time
Comparing lenders – particularly the smaller ones – and products can take hours and lead to confusion. Brokers ensure they are on top of all the latest rules, regulations and products, so you don’t have to.
Brokers also have the highly intelligent software, intel, and relationships that make the entire home loan easier for you. This is even more important as you near settlement!
3. Makes the lending process as stress-free as possible
Knowing which deal is right for you is one thing; applying for it is another. Brokers aim to make the entire home loan application process as stress-free as possible. They can help you understand your borrowing power (how much you can lend for your new home) as well as advising you on how to organise your finances and ensuring that all the paperwork is in place for a smooth approval.
‘We deal with your lender and other parties, so you don’t need to,’ explains Sunny.
‘We also use the latest technology and systems to gather your financial information, meaning less printouts and sorting through old bank statements, and faster turnaround times.’
At Homebuyers Centre, we believe that your first home journey should be easy, trusted and affordable. That’s why, we have our in-house finance team, Resolve Finance.
Ready to start your new home journey?