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Get a refund off Real Estate Agents Fees
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Home loan.
Finding the right home loan and the right financial institution to deal with is a major decision.
It pays to do your research before committing to anything as you will be paying off your loan for many years to come.
There is a variety of different home loan products and services and in there is plenty of choice as well. In Australia there are now thousands of mortgage brokers who operate independently of the banks.
Most of these guys or gals are running their own little business’s and basically get paid commission on the loans or mortgages they sign up or organize, but the point is they have access to most if not all the big banks loan products.
Home loan advice no. 1. Deal with a local
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My recommendation is that you deal with a broker instead of going
directly to the bank ,at least that way you have a local point of
contact for how your loan is progressing.
Dealing with the big banks can be a pain in the backside. When you are stressing about how long before you actually receive your loan approval you don’t want to be put through to some call centre in India, and be treated like a number working with your own local rep makes more sense. |
Home loan advice no. 2. Don't forget to shop around
I know it sounds obvious but some times we miss the obvious.
There is a variety of different home loan products and shopping around is essential.The home loans marketplace is a competitive area so some of the lenders will offer substantial incentives to get your business.
Finding the right loan will save you a lots of money over the length of the loan, remembering that these agreements on average last 15 years or more.
Buying real estate, what are some of the benefits of buying property, read more...
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Did you know that the origin of the word mortgage has French background which roughly translates as "an agreement until death"?
Selling real estate, basic rules to follow selling real estate, read more...
Home loan advice no. 5. Get loan pre-approved
Getting your home loan pre approved should be part of your game plan. What this means is your broker/financer will assess you and any other applicants and establish your borrowing capacity, prior to you finding your property. That way you can go real estate shopping with realistic expectations and a genuine ability to purchase
Looking at Property
Having your home loan pre-approved gives you a head start because the
real estate agents will take you more seriously.
If it’s your first real estate purchase it’s a good idea to not fall in love with anything until they give you the keys and tell you it’s yours. Nearly everybody has a tale to tell how they got beaten at the post when buying real estate.
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