Why Choose a local Mortgage Broker Samford?

Located in the beautiful Samford Creek, the village of Samford is the perfect definition of relaxed country living. About a 45-minute drive from the city of Brisbane, it’s the closest semi-rural environment to any city in Australia. The drive to Samford will take you through valleys, farmland, and forests with a spectacular view of the D’Aguilar mountain range in the distance. If you’re a foodie who also has a taste for history, its built-in 1906 is a great place to have some quick lunch. Or if you just want to enjoy your meal and feel in one with nature, you can check out its cafes or restaurants that offer creek and rain forest views. Do you see yourself living in this town? Then get yourself a mortgage broker Samford right now!

Now, why would you look for a local mortgage broker? First: we are local and care about our community. We also understand the “rural” challenges you can have while trying to get finance.

Your Place Mobile Mortgage brokers can assist with:

• First Home buyer mortgages and First Homebuyers Grant: we acknowledge this is a big decision and will be there for you all the way.
• Investment property loans: what  property investment loan fits your goals and plans? We can help you with that decision!
• Construction loans for renovating and loans to build an addition to your existing property.
• Home Construction loans for new builds, or Bridge finance for when you need some extra time.

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What are Mortgages Used For?

This financial term refers to the method of obtaining loans with collateral for security and plays a crucial role in the financial market. Mortgaging is a business that’s highly in-demand that’s why more people are getting into this business.
Mortgages are usually given based on your personal property’s worth as payment for your debt. A key player in the world market, mortgages can be offered by banks, financial institutions, and many other financial sources.
While there’s a standard method for obtaining mortgages, the formality and interest rates for each institution vary. Most mortgage loans are used to construct and buy houses or commercial properties, but they can also be used for marriage, business, and others.

What Kinds of Mortgages Can a Mortgage Broker Samford Help You With?

Most people normally can’t afford to buy a house without help from banks and lenders. If you want to buy a property but don’t have the whole purchase price upfront yet, getting a home loan is your best option.
However, since there are several options available, it can be confusing to pick the right one for you. So in this post, let’s talk about the ones we can help you get:

Variable Rate Loans

This type of loan is a home buyer’s go-to option. These depend on the ever-changing cash rates of the Reserve Bank of Australia and the fluctuation of interest rates. Meaning, you can have high payments in some months and then low payments in some.
It may seem like a gamble. However, most mortgage broker Samford clients prefer this loan since it lets them repay in a variety of ways. Moreover, in case you find a better loan that fits your needs, most lenders won’t charge you extra if you wish to refinance your loan with a different provider.

Fixed-Rate Loans

As the name suggests, there’s a fixed amount that you have to pay each month. These lock-in your home loan interest rate for a certain number of years, with the rate usually higher than the current variable.
Since it’s a fixed rate, you don’t have to worry about the current status of the market. Clients of a mortgage broker Samford who are on a budget choose this loan because they don’t have to worry whether or not they can repay the loan. But, aside from the higher rates, switching to another loan is pricey since most lenders charge a break-cost fee.

Guarantor Loans

If you wish to borrow at least 80% of the purchase price but don’t want to pay the mortgage lender insurance, you may ask your parents or close family members if they could be your guarantor and make a part of their house your collateral. First-time buyers who are new to the property market would benefit a lot from this loan.

Interest-Only Loans

If you’re tired of the traditional home loan, these loans allow you to skip the principal and only pay for the interest—for now. These are great for property investors looking for negative gearing and people who want to make a profit by reselling the property given that it won’t depreciate.
If you’re a young home buyer or have a low income, we as a mortgage broker Samford also recommend this loan for you. This loan also typically lasts for 7 years before going back to the “traditional route.”

Line-of-Credit Loans

This loan, on top of your current mortgage, is your best bet if you wish to renovate your home. Sometimes referred to as “home equity loans,” these allow borrowers to maximize their loan and use it for other expenses. The amount will depend on your property’s equity, which can be used either in a lump sum or bit by bit.
A piece of warning, though: this loan isn’t suitable for impulsive borrowers. Remember that once you’ve drawn from your line-of-credit, you need to make extra repayments to compensate for the amount you borrowed or else the term of your loan will be extended.

Investment Property Loans

The requirements for this loan are a lot stricter. Firstly, you need to show that you have enough funds set aside to repay the mortgage. Additionally, lenders may require your remaining funds to be higher as compared to if they were for a home loan.
Secondly, rental income will also be a factor since it may be enough to take care of mortgage repayments and other expenses. Meaning, the property doesn’t actually lower your debt-to-income ratio (or the percentage of your income used to repay the mortgage,) which is also a factor whether your loan will be approved or not.
Last is the potential of your property for appreciation during the loan. Both you and the lender may want to check for current vacancy rates as well as the trends in housing prices. These, too, are big factors once your property gets assessed.

Why Should You Hire a Mortgage Broker Samford?

Long ago, clients mostly belonged to their banks and there was lesser competition among financial institutions. However, things have changed and clients now take their time comparing various institutions. This made way for the creation of a new profession: a mortgage broker.
Mortgage brokers should have an Australian Credit License (ACL) or be a credit representative of a licensee (aggregator.) This serves as your protection in case a lawsuit takes place.

Mortgage Brokers Help You Save Money and Time

Banks and financial institutions are only open during office hours. This means you have to take a day off to get an appointment, plus a day may not be enough since you have to compare banks and talk with them to get the best deal.
As a mortgage broker Samford, we’ll do all this for you and act as a “middleman” and negotiate with different lenders to help you get the funds you need. We’re known for our flexibility too, in the sense that we’re available for meetings even after office hours, saving you a lot of stress.

Mortgage Brokers Explain How Mortgage Works

Before getting a mortgage, for example, you must know the difference between a variable rate and a fixed rate. Mortgage brokers are experts when it comes to the financial market and should be able to give you this information. Additionally, they must also advise you on how to find a suitable offer.
Mortgaging is a complicated topic so a good mortgage broker should be able to explain things clearly in a way you understand. They must assist you through all the steps and help you find a solution that fits your criteria.
Also, you should know the difference between a mortgage broker and a mortgage advisor.
A mortgage broker works independently and compares several institutions to work out what’s best for you—meaning, we work for you. On the other hand, the latter works for the bank and their priority is to sell mortgages offered by that bank, even if they don’t necessarily work for you.

Mortgage Brokers Handle Administrative Tasks

Doing administrative work yourself is a huge consequence of not hiring a mortgage broker. If you hire a mortgage broker Samford, we’ll prepare all the documents you need to save you from the stress.
For instance, we can help you acquire a credit pre-authorization. This is the document that lets you know if you can get a mortgage as well as an estimate of how much can be lent to you.

Mortgage Brokers Help Protect Your Credit Score

Banks have their own criteria as to what’s acceptable and what’s not when it comes to filing of loans. If you choose to shop for mortgages from several banks and one gets denied, your credit rating will be tainted and inevitably suffer.
This is where we come in. A mortgage broker Samford works by comparing several financial institutions by revealing your financial information alone and never your identity. This way, we’re more likely to find a lender for your next loan while protecting your credit score at the same time.

Mortgage Brokers Help You Avoid the Pitfalls of the System

Your knowledge about the mortgage system may be very limited and you’re not an expert in this field. A good mortgage broker should be able to understand and thoroughly explain the different products of each bank to help you from making mistakes that can cost you a lot.
One of the most common mistakes customers make is choosing products with the lowest rate without paying enough attention to the conditions attached. Our role is to dissect these conditions so you don’t end up in an unfortunate place just because you weren’t informed.

Your Place Mortgage Brokers: Your Next Mortgage Broker Samford

Our passion is to help our clients achieve the property of their dreams. As home loan experts, we know how daunting purchasing your first house is. This is why we work with you to make sure your next property purchase or refinance is clearly explained—and hopefully to take some of the stress off your shoulders! Or perhaps you’re in the market as an investor: we can help with that too! With more than 30 lenders and hundreds of loans to choose from, we’ll work as a “matchmaker” between you and the loan that’s appropriate for you. It’s the lender who pays us upon settlement and not you so you don’t have to worry about hidden or additional charges.

The Samford region is made up of Samford Valley and Samford Village. This picturesque and hilly town is one of the closest semi-rural towns to Brisbane, and is now home to many hobby farmers. It’s only a little bit outside the city but its wide spaces, surrounding hills, and country vibe make it feel the exact opposite. It even holds a Farmer’s Market every Wednesday where you can buy fresh farm produce and enjoy live music at the same time! Its welcoming atmosphere, natural beauty, and closeness to Brisbane and the Sunshine Coast make it a perfect place to stop for many tourists and the reason why it’s loved by many locals.
So what are you waiting for? Book an appointment today and let us be your next mortgage broker Samford!