MORTGAGE BROKER CHELSEA

Typically, a deposit equivalent to 20% of the total house value is considered a good target. But, you may still secure a loan with a smaller deposit by taking out Lenders Mortgage Insurance (LMI).

Lenders Mortgage Insurance (LMI) is a form of insurance that lenders obtain to safeguard against the risk of not being able to recover the outstanding loan balance. This typically occurs when borrowers default on their loan payments, and the property is sold for an amount that falls short of the outstanding loan balance.

The majority of State and Territory governments extend stamp duty concessions to first-home buyers, and in certain instances, they may waive the requirement to pay stamp duty entirely. For example, in Victoria, first-home buyers are exempt from paying stamp duty if the property’s value is less than $600,000, and the contract was signed after 1 July 2017. Additionally, if the property value falls between $600,000 and $750,000, first-home buyers can benefit from a concessional stamp duty rate.

Mortgage brokers and banks both provide financing options for people looking to buy a home, but they differ in the way they provide these services. Mortgage brokers are independent professionals who work with multiple lenders to find the best mortgage product for their clients. Banks, on the other hand, are financial institutions that offer mortgage products directly to their customers.

One of the key differences between mortgage brokers and banks is the range of products and services they offer. Mortgage brokers have access to a wider range of lenders and products, which means they can often find a mortgage that is tailored to a client’s specific needs and financial situation. Banks, on the other hand, typically only offer the mortgage products they have available, which may be limited in terms of options and flexibility.

Yes. Our mortgage broker in Chelsea can structure your mortgage to be based on your income and assets. They can also help you explore options such as a line of credit, which allows you to have money when you need it, a home equity line of credit, where you borrow against the value of your home, or a mortgage refinance, where you change the interest rate on your existing mortgage.

Yes, Our mortgage broker in Chelsea can help you find a mortgage loan even if you have bad credit. Our Mortgage brokers have access to many different lenders and are prepared to work on your behalf to help find you a mortgage loan.

Navigating the mortgage market can be overwhelming, but a mortgage broker can simplify the process. With access to a range of lenders, they can help you find the right mortgage product tailored to your unique financial situation. Brokers have extensive knowledge of the market and can negotiate on your behalf to secure better rates and terms. Let our professional mortgage broker guide you through the process of finding your dream home!