First Home Buyers
At Mortgage Broker Melbourne we enjoy the opportunity to help a first home buyer with their property purchase. It is an exciting but often nerve wracking time for you so it helps to have someone there to bounce ideas off and get guidance from.
Your Melbourne based home loan consultant offers much more than just finding you a great rate.
Learn about how much more we do to help you through the process.
Choosing a home loan is one of the biggest financial decisions you’ll ever make. Having trustworthy guidance helps you get that decision right. We’re here to offer expertise, personalised solutions and an easier application process. Our service is free to you, and we’re committed to acting in your best interests. Read on to find out more about our reliable, stress-free home loans service in Melbourne.
What is Our Home Loans Melbourne Process?
Step 1: Initial Consultation & Goal Assessment
We’ll start by understanding your personal goals, financial circumstances and long-term plans, ensuring our recommendations are right for you. We’ll also walk you through key mortgage concepts, answer your questions and provide you with free property reports.
Step 2: Understanding Your Borrowing Capacity
Next, we’ll calculate your borrowing capacity based on current income, regular expenses and lifestyle considerations. We’ll stress-test to see what happens if your situation or interest rates change, to ensure you only apply for loans you can comfortably manage.
Step 3: Comparing Lenders & Loan Options
Home loans come with different features, repayment schedules and levels of flexibility. They can be hard to compare. By using advanced software, we’ll quickly identify your best options and present them in a simple way. It makes choosing your home loan so much easier.
Step 4: Preparing Your Application
No one likes preparing home loan paperwork! We do it for you, advising you on the supporting documentation needed, and making sure everything is filled out accurately and in full. We’ll ensure you put your best foot forward to improve your chances of approval.
Step 5: Lodgement & Approval Follow-Up
We’ll submit your application on your behalf, respond to lender questions, and track the application’s progress. You’ll be kept informed at every stage, so you can go house-shopping with confidence, knowing the finances are in order and nothing has fallen through the cracks.
Step 6: Settlement Support & Post-Loan Guidance
During the settlement process, which is conducted by your conveyancer, we’ll be on hand to help with valuations, financing and settlement dates. After that, we’ll still stick around, providing a yearly check-in to ensure your loan is still up to scratch, and helping with re-negotiations.
Why Choose Mortgage Broker Melbourne?
By choosing us as your home loan broker in Melbourne, you’ll gain access to hundreds of loan products and experience a much less stressful application process. We’ll present you with suitable loan options in plain language, negotiate a better deal and take care of all the paperwork. With over 500 5-star Google reviews and a legal requirement to work in your best interests, you’ll be in capable hands, at no extra cost to you.
Tailored Guidance for Your Financial Situation
Our brokers focus on your individual needs. All recommendations are made with your circumstances, goals and spending capacity in mind. We’ll make sure your home loan in Melbourne is suitable for both current and future plans.
Access to a Wide Range of Lenders
By using a home loan broker, you’ll gain access to diverse Melbourne lenders that go beyond the big banks. That means a greater likelihood of finding the perfect loan product to suit your needs, no matter what your situation.
Expert Support for First-Time Home Buyers
Purchasing your first home can be nerve-wracking. We’ll guide you through the process, including discovering whether you qualify for a First Home Owner Grant, facilitating your application, and answering any questions you have.
Faster Approvals with Professional Guidance
We know the loan approval process inside out, and will apply our experience to ensure there are no delays. As your go-between, we’ll communicate with your lender and keep you informed throughout.
Free Service for Most Clients
You won’t pay more for home loans when using Mortgage Broker Melbourne. For most clients, we are paid by commission from your lender without additional cost to you (government and lender fees may still apply).
Mortgage Broker Melbourne will:
- Work with you to determine your needs.
- Take you through the process of obtaining pre-approval and outline the steps involved in purchasing a property.
- Handle all the paperwork and keep you fully informed at every stage.
- Be on hand to assist with tips on negotiating with agents, buying at auction and, in consultation with your legal representative, help you with the contracts that need to be signed.
- Manage deadlines including valuations, finance dates and settlement.
- MBM are on hand any time to check your loan still meets your needs and is still competitive.
- Free property reports.
First Home Owner Grant
In conjunction with the lender, Mortgage Broker Melbourne will facilitate the First Home Owner Grant application for you. To find out if you qualify, or if you have any queries, Click Here to find out more.
Find out how Mortgage Broker Melbourne can offer you expert guidance and a hassle-free, competitive mortgage by calling 1800 111 626 or emailing us.
Property Investment
Mortgage Broker Melbourne has helped many investor clients properly structure their lending. Enquire now to receive the benefit of our expertise.
Let us project manage the finance for your next investment property.
Investment Property Loans Melbourne
Have you reached a standstill growing your investment property portfolio? Have you outgrown your current lender? Are you fed up with dealing with the banks on your own?
Mortgage Broker Melbourne is here to assist you:
- By managing the entire process keeping you informed every step of the way
- Determine an appropriate loan structure
- Discuss interest only vs principal and interest repayments
- Only offer the lender the minimum amount of collateral security
- Employ a strategy to minimise any mortgage insurance that may be payable
- Review your entire lending portfolio as often as you wish (which lender does that?!)
Did we mention we do all this for free?! (Government and lender fees and charges may apply)
Moving Home Mortgages
Mortgage Broker Melbourne can help you be thoroughly prepared to move home by arranging a pre-approval first so you can sell and buy again with confidence.
Mortgage Broker Melbourne has helped many clients through the process of selling and buying again.
- Determine the new loan amount you will need including agents fees and paying out your old mortgage
- Help you select the most competitive, suitable products from our extensive panel of lenders
- Take you through bridging finance if you choose to buy before you sell
- Handle all the paperwork and keep you fully informed
- Manage deadlines including valuations and settlement
- Review your home loan regularly and as often as you wish to check it is still competitive and that it continues to meet your needs
Did we mention we do all this for free?! (Government and lender fees and charges may apply)
If a change of location is in the wind, contact us for updated information.
Refinance
Does the thought of having to handle a refinance on your own send a shiver down your spine? How does it work? Have you thought about the new payment coinciding with your pay dates? Are you moving to a lower interest rate but taking another 30yr loan term by accident? We have thought about that so you don’t have to!
Refinancing a home loan can be a tricky business so it pays to have someone working behind the scenes to make sure the process is smooth.
Mortgage Broker Melbourne will:
- Work with you to determine your needs
- Help you select the most competitive, suitable products from our extensive panel of lenders
- Handle all the paperwork and keep you fully informed
- Manage deadlines including valuations and settlement
- Review your loan regularly and as often as you wish to check it is still competitive and that it continues to meet your needs
Did we mention we do all this for free?! (Government and lender fees and charges may apply)
Helpful FAQs
Read our FAQs on Home Loans in Melbourne, Victoria. For more information, contact our expert team.
1. How much can I borrow for a home loan in Melbourne?
How much you can borrow depends on your income, living expenses, current debts, and each lender’s assessment criteria. Your home loan broker in Melbourne can calculate your borrowing capacity across lenders and help identify a realistic purchasing budget.
2. What deposit do I need to buy a home in Melbourne?
Many lenders prefer you to have a 20% deposit, and this will enable you to avoid paying Lender’s Mortgage Insurance. However, some lenders are happy to accept a smaller deposit, and there are government schemes to help eligible buyers purchase with as little as a 5% deposit.
3. Can I buy in Melbourne with a 5% deposit?
It is possible for some purchasers to buy with a 5% deposit, particularly for first home buyers who may be able to access a government First Home Guarantee scheme. The Melbourne home loan experts from Mortgage Broker will be able to assess your individual situation and provide advice on your eligibility.
4. Are interest rates different for Melbourne buyers?
Interest rates are generally the same across Australia, but the rate you receive depends on factors like your loan size, deposit, and financial profile. A mortgage broker can help you compare lenders to find a competitive home loan rate that suits your situation.
5. What fees should I budget for when buying a home in Melbourne?
In addition to your deposit, you should budget for costs such as stamp duty, conveyancing, building and pest inspections, Lender’s Mortgage Insurance (where applicable) and loan-related fees, such as loan establishment and ongoing administration fees.