Why Work With Our Mortgage Broker Kobble Creek?

A rural locality in the Moreton Bay Region, Kobble Creek is about 45 kilometers northwest of the Brisbane CBD. It’s located along Mount Samson Road and bordered by the Mount Samson Range to the south-east and a mixture of rural residential areas to the east. Its western part, however, is what it’s probably known for. A part of the D’Aguilar National Park, Kobble Creek is a great place for remote bush camping and is loved for the quiet escape it offers. The suburb is perfect if you’re a retiree for its simplicity, and also great for adventurers for its interesting flora and fauna, natural attractions, and endless views. Can you imagine living or investing in this lovely farmland? Don’t hesitate to contact our mortgage broker Kobble Creek right now!

What is a Mortgage?

A mortgage is a financial term that describes how you can acquire loans by using collateral as security. Mortgaging has now become an in-demand business that’s why more and more people are getting into this field to help others who need a loan.

Mortgages are usually offered by banks and other kinds of financial institutions, and the amount you get will depend on your personal property’s worth to repay how much you borrowed.

Mortgage loans are commonly used to purchase residential or commercial properties. While there’s a standard method in applying for a loan, interest rates and other formalities vary from lender to lender.

The Types of Mortgages Our Mortgage Broker Kobble Creek Can Help With

Buying a property usually isn’t possible without help from banks and other lenders. If you’re looking into buying one but don’t have the whole purchase price yet, then mortgages are your new best friend.

However, picking the best product can be difficult with all the options to choose from. So today, let’s discuss your options and find the one that’s right for you.

Variable Rate Loans

The go-to option for most homebuyers, variable rate loans depend on the ever-changing cash rates of the Reserve Bank of Australia and the constant rise and drop of interest rates. In short, you can have low payments in some months and high payments in some.

Yes, these are risky. But clients of our mortgage broker Kobble Creek still prefer them since they can repay the loan in a variety of ways, depending on the lender. Plus, if we find you a different product more suited to your needs, switching isn’t a hassle because lenders don’t charge a break-cost fee.

Fixed-Rate Loans

As the term suggests, fixed-rate loans involve having a fixed amount you have to pay every month. So compared to variable loans, you don’t need to worry about whether you can repay the loan or not.

These are great if you’re on a budget because you can plan your expenses accordingly. But the rates are usually higher than the current variable (meaning they may be more expensive) and if our mortgage broker Kobble Creek finds you a cheaper product, switching is a pain because most lenders charge a break-cost fee.

Guarantor Loans

These are your best bet if you’re planning to borrow up to 80% of the total purchase price but want to skip paying the mortgage lender insurance.

All you have to do is ask your parents or a close relative if they can be your guarantor. If they agree, a part of their property will then turn into your collateral. Guarantor loans are ideal if you’re a first-time property buyer and new to the market.

Interest-Only Loans

These are exactly what they sound like. Our mortgage broker Kobble Creek recommends these if you’re a young homebuyer or have a low income since these loans let you pay the interest alone and skip the principal amount—for now. These are also ideal if you’re an investor looking for negative gearing or are planning to sell your property to earn some profit (given that it won’t depreciate)

Interest-only loans typically last for 7 years before heading back to “traditional loans.”

Line-of-Credit Loans

Are you planning some home renovation? Then this loan, on top of your existing mortgage, is your best option. Sometimes called “home equity loans,” line-of-credit loans allow you to make the most of your loan amount and use it for more important things. You can also use it in a lump sum or bit by bit.

But our mortgage broker Kobble Creek won’t likely recommend this loan if you’re an impulsive buyer. This is because once you draw from your line of credit, you need to make repayments right away to compensate for what you borrowed. Not doing this will only extend your loan term.

Investment Property Loans

These loans perhaps have the strictest requirements. First, you must prove to the lender that you have sufficient funds set aside to pay the total loan amount. Some may even require the remaining funds to be higher as compared to when applying for a regular home loan.

Then, they’ll assess your rental income since it may be enough to repay the monthly payments for the loan. This means that buying the property didn’t affect your income-to-debt ratio (or the portion of your salary that goes to repay the loan, which is also considered.)

Your property’s potential for appreciation during the loan term is considered as well. This is why lenders are always aware of the vacancy rates and the trends in housing prices.

Why Do You Need Help From Our Mortgage Broker Kobble Creek?

Banks had always been the only choice when applying for mortgages and there was little to no competition among financial institutions.

But the times have changed. Today, borrowers take their time comparing products from different institutions, which led to the birth of our profession. We’re here to evaluate products from several institutions to help you find and secure a plan to help with your financial goals.

We’re required to carry an ACL (Australian Credit License) or be credit representatives of a licensee (aggregator) to serve as your protection in case a lawsuit happens. Here now are a few ways our mortgage broker Kobble Creek can assist you:

We Know How the Mortgage System Works

Do you know the difference between fixed-rate and variable-rate loans? If not, we can easily explain these concepts and help you pick which is better for your situation.

Plus, you need to know the difference between us and mortgage advisors. While we compare products from various banks and lenders, mortgage advisors work for a specific bank and are only concerned about selling you products from that bank—even though they don’t necessarily meet your needs.

We Help Save Your Time and Money

Comparing banks and lenders can be a big headache. Our mortgage broker Kobble Creek is here to deal with potential lenders, even after office hours, so you don’t have to worry about a thing. Let us handle all the negotiations for you to make the whole process as stress-free as possible.

We Protect Your Credit Score

If you decide to do things by yourself, if your application gets rejected even by just one bank, it will show on your credit score and it will inevitably suffer. We prevent this by dealing with lenders using only your financial information and never your identity. This gives us a greater chance of finding the right product while protecting your credit score at the same time.

We Deal With Administrative Tasks

Think hiring our mortgage broker Kobble Creek is a waste of time? Then good luck with taking care of administrative work! We help get essential documents for a smooth application process, such as a pre-credit authorization, which lets you know if you’re eligible for a loan and an estimate of how much you’re going to get.

We Prevent You From Making Mistakes

One of the most common mistakes people make is choosing a product with the lowest terms without understanding the conditions attached to it. Our job is to go through and analyze those conditions and explain them one-by-one so you won’t end up in a bad place just because you were misinformed.

Your Place Mortgage Brokers: Your Mortgage Broker Kobble Creek

Helping you get your dream property is our goal. Whether you’re an experienced property investor or a first-time buyer, we’re here with you every step of the way to turn your dreams into a reality.

Planning to buy or invest in a property in Kobble Creek? Then talk to our mortgage brokers today!