Whether you are looking to buy your first home, refinance your existing home, or purchase an investment property, there are many details to work through. It can be a time-consuming, confusing process. Some questions you may have are what bank you should go through, what is the best interest rate and loan-term, what does all the legal wording mean, and so forth. All of this takes time and expertise to navigate. This is where a mortgage broker can help.
A mortgage broker is a middle man between a purchaser and a lender. A mortgage broker:
- forms a relationship with you to understand your needs and the big picture of where you want to be in the future.
- works with you to set up clear financial goals.
- shops around for you to find the right bank and loan for your situation.
- takes care of the entire process from application, to approval, to the established loan.
- is your communication go-between so you are not dealing with the bank.
- talks you through the process so that you understand all the paperwork and legal jargon.
- negotiates great deals on your behalf.
- works with your taxation expert if you are an investor to make sure your desired financial outcomes will be met.
Mortgage brokers also work with car loans, personal loans, and equipment financing, as well as providing options for various types of insurance. Best of all, their services are free because they are paid a commission by the lender once the loan is finalized. And once you establish a relationship they will be there to answer questions and work with you on future endeavors.
Mortgage Masters are your expert local mortgage brokers in Newcastle, Maitland and Hunter Valley. Contact us for more information on how a mortgage broker can help you.
