Mortgage Broker Melbourne: Get the Best Rates on Your Home Loan

Mortgage broker Melbourne | If you\’re in the market for a mortgage, it\’s important to get the best rates possible. That\’s where a mortgage broker comes in. Mortgage brokers have access to a variety of lenders, and can help you find the best deal on your home loan.

If you\’re looking for mortgage broker Melbourne services, look no further than Teri Maloon! Teri will work hard to get you the best rates possible on your mortgage. 

At the start of the pandemic in 2020, the Reserve Bank dropped its cash rate to next to nothing. Fixed rates also plummeted. 

Fixed-rate loans experienced a record number of applicants because they were able to lock-in a once-in-a-lifetime low rate for up to five years. At one point, almost 50% of all borrowers were taking out fixed rate loans.

Now, in 2022 – we all know interest rates are rising in Australia. This means that mortgage borrowers will have to pay much more money to service their home loan, in some cases hundreds of dollars extra per month.

So, how do you ensure that you secure the best rates on your home loan? 

The best way to do this is to speak with a mortgage broker. 

What is a mortgage broker? 

A mortgage broker is a professional who helps people secure financing for real estate purchases. Mortgage brokers work with a variety of lenders to find the best mortgage terms and rates for their clients. 

How can a mortgage broker help me? 

Mortgage brokers have access to a variety of lenders, and can help you compare mortgage terms and rates. They can also help you find the right mortgage products for your needs, and guide you through the mortgage process. 

Tips for getting the best rates on your home loan

1. Shop around: mortgage rates can vary significantly from one lender to the next. A mortgage broker can help you compare rates from a variety of lenders, and find the best deal for you. 
2. Lock in a rate: if you\’re happy with a particular interest rate, you may want to consider locking it in. This way, even if interest rates rise in the future, your mortgage payments will stay the same. 
3. Improve your credit score: your credit score is one of the key factors that lenders consider when approving a mortgage. If your credit score is low, you may want to work on improving it before you apply for a mortgage. Regardless of the loan you pick, if you have a better credit score, you\’ll generally obtain a superior mortgage rate. A high credit score, much like putting a large down payment on your mortgage, may help you qualify for better rates and lower monthly payments.
4. Choose your loan term with care: Short-term loans have lower mortgage rates as a result of their reduced risk. Because you\’re paying down the principal in a shorter time, these sorts of loans come at a cost: larger monthly payments (owing to the fact that you\’re paying off the principal in less time). With a longer-term loan, you\’ll pay the loan off for a longer period of time, resulting in lower monthly payments but, and this is the big BUT – higher interest rates.
5. Refinance your mortgage: If you have a mortgage with a high interest rate, you may want to consider refinancing. Refinancing involves taking out a new mortgage with a lower interest rate. This can help you save money on your monthly mortgage payments. 

Here\’s what one of Teri\’s past clients had to say about the refinancing process: 

Very helpful, patient and organised

\”Teri was excellent in her service and advice when navigating the refinancing process. She was able to work with us to explore different options that best suited our circumstances – such as my return to work form maternity leave. Despite us being slow to get everything organised and the banks’ procedures being cumbersome, Teri was patient, understanding and supportive. We would not have gotten through the process without her. Teri kept us on track and updated as things progress.\” We would highly recommend her. – Saskia Lillywhite. Click here to read more verified reviews.

About Teri Maloon

Teri is a mortgage broker based in Melbourne, Australia with more than eight years of foreign and Australian financial planning and broking experience. Teri has the qualifications and credentials to guide you through the appropriate strategy to secure a loan suitable to your requirements. Her priority is to help smoothly navigate the legalities and the loan process proficiently to achieve the best outcomes for her clients. Click here to book a meeting with Teri. 

Frequently Asked Questions 

[saswp_tiny_multiple_faq headline-0=\”h3\” question-0=\”Is it worth going through a mortgage broker?\” answer-0=\”Working with a reputable mortgage broker can save you time and money, and help guide you through the often overwhelming process of acquiring a loan. A good mortgage broker will have an efficient and affective process in place to make your borrowing journey stress free and exciting.  \” image-0=\”\” headline-1=\”h3\” question-1=\”How do I choose the right mortgage broker?\” answer-1=\”You should consider the following when choosing a mortgage broker:  – Do they have experience in the industry?  – Do they have a good reputation?  – Are they accredited?  – Do they have well developed relationships with several different lenders?  \” image-1=\”\” headline-2=\”h3\” question-2=\”How much do mortgage brokers charge Australia?\” answer-2=\”Although some brokers charge a fee for their services, Teri does not charge her clients any fees. Once the loan settles the chosen lender pays Teri her upfront commission. \” image-2=\”\” headline-3=\”h3\” question-3=\”What should I know before talking to a mortgage broker?\” answer-3=\”Make sure you ask your mortgage broker questions about income requirements, the sorts of loans you qualify for, and how much cash you\’ll need to put down as well as closing costs. \” image-3=\”\” headline-4=\”h3\” question-4=\”When should you talk to a mortgage broker?\” answer-4=\”Ideally, you should contact a mortgage broker as soon as possible during the house-buying process.  \” image-4=\”\” count=\”5\” html=\”true\”]

Conclusion: Mortgage Broker Melbourne

When it comes to finding a mortgage broker, Melbourne is a great place to start your search. There are a number of mortgage brokers in Melbourne who can help you get the best rates on your home loan. Teri Maloon is one such mortgage broker. Teri has more than eight years of experience in the financial planning and broking industry, and she can help you secure a loan that is suitable to your needs. Contact Teri today to learn more about how she can help you get the best rates on your home loan. 

[formidable id=1]

————-

mortgage broker melbourne, mortgage broker, mortgage brokers, home loan, loans, interest rates, refinancing, Teri Maloon

This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.