Should I Consider A Mortgage Broker Or Go Solo?

Thousands think a mortgage broker is a waste of time and money and opt to try and find a mortgage by themselves. Now this can be both a good and bad idea because sometimes you can get extremely lucky but not always. Most are debating whether or not they should use a broker or go solo in their efforts to find a mortgage. So what should you consider? How Much Experience Do You Have In The Mortgage Industry? The first thing you need to think about when searching for a mortgage is what you know. So, what do you know about mortgages and the industry? If you have very little experience dealing with mortgages then the whole process can be confusing. You not only need to search for lenders who offer mortgages for your personal circumstances but who also are trusted and accredited. This is a lot harder than it looks but with a mortgage broker Melbourne you don’t need any personal experience. Do You Feel Comfortable Searching For A Mortgage And Approaching Lenders? Where are you going to search for a mortgage? Will you go online and check out the various market rates or will you go directly to a lender? It certainly will not be a quick or easy process because you have to go from lender to lender looking at what mortgages they have and what rates and terms they’re going to offer. This is not only time consuming but extremely frustrating and it can become a little overwhelming. Are you really comfortable approaching a lender yourself? No, then maybe a mortgage broker is the one for you. They do all the hard work so you don’t have to. More explained here. Brokers Can Make the Decision Simpler A mortgage broker Melbourne absolutely knows what they are … Continue Reading →

The Things Your Specialized Mortgage Agent Can Do For You

You might consider using the first and best mortgage broker in Melbourne, so that you can just get everything going, and get your home loan approved as soon as possible. But, the one thing that we tend to forget is that there are some brokers that are really assisting you in the steps to get the home loan approved;while othersdon’t really care about their clients and that they don’t really offer great services. If you are going to apply for a home loan for the first time, you might want to make sure about the things that your specialized mortgage agent really can do for you to make the process easier. The broker will get all the necessary information Getting a home loan for the first time, is hard and you might not know which documents you really need to have. If you are using a mortgage broker in Melbourne that isn’t really a great broker, they will not assist you in getting the documents that you might need. However, if you are at a broker that is really wanting to make things easier for their clients, they will give them a list and assist them in finding all the documents that they need to get the application approved. There are normally lots of documents that needed to go with the application, and if you don’t have the correct documents, it is going to make the process longer. Find out more informations in our post here. Gives advice You will know that you are at a great mortgage broker, if the agent is giving you the advice that you need to make the right choice about the package or deal that you want to get. Getting a home loan can be complicated, especially if you are doing it for the first … Continue Reading →

EVP – Protecting your family (and property) from mortgage banks

When you are getting a home loan from mortgage broker, or from any other mortgage bank, you need to make sure that you know what EVP is. This is the only way that you can really protect you and your family when you are thinking of selling the home again. It is important to make sure that you know more about EVP, so that you can make the best decision for you and your family. What does EVP stand for? For those who don’t know what EVP stands for, it simply meansEquity Value Protection. You will need to make sure that you have all the information about EVP before you buy your home loan from a mortgage broker. When you are buying a home, you are normally paying interests and the repay amount is much higher than the amount that the home is valued. And, if you are going to sell the home and relocate, you might find yourself in trouble, because the amount that you are selling your home isn’t enough for repaying the home loan. EVP is protecting you, so that you don’t have this problem. This will make sure that you are only paying for the amount that you haveselling your home for, and EVP is basically paying the rest. There are two different types of EVP Another important thing about EVP is that there are two different types of EVP that you should know, before you subscribe to it. The first type is EVP-A. This is where the mortgage broker in Melbourne gave consent to getEVP. This can make the whole process easier. So, it might be a good thing to get the consent of your lender towards  EVP, before you subscribe to it. The second one is EVP-B. This is where you didn’t make sure that the … Continue Reading →