Mortgage SydneyYour Sydney mortgage is important to us because it's important to you. We know that choosing a lender, finding a great rate and managing your repayments is a big deal, so we go out of our way to help you find just what you are looking for. 
Getting a home loan approved is easier with a local mortgage broker. To gain home loan approval you will
need to show your income, your savings record and your expenses. So
start getting your finances in order and stop buying new shoes or
expensive items!
Lenders will asses your situation to see if you qualify for a home loan,
and to see how much you can borrow. Due to the global financial
crisis, many lenders have tightened their lending criteria, and have
stopped offering no deposit home loans. Home lending has
certainly got tougher in recent months, but if you qualify, lower
interest rates are making it more affordable to buy property. House
prices are lower and interest rates have fallen by around 4 per cent in
the past few months.
Because gaining approval is now harder
than before, talking to a mortgage broker is the safest way to put put
yourself in the best light. Mortgage brokers deal with mortgages, talk
to lenders and secure loans for homebuyers every day. So a good broker
can work wonders for you when it comes to gaining approval.
Credit Score
Most
lenders use a credit scoring system. Don’t be put off or scared by it,
it’s in place to protect you both and ensure that you only borrow what
you can afford.
If your weighted score passes a level
pre-determined by the lender you are usually given pre-approval,
subject to the property you wish to purchase passing its valuation test.
What lenders look at:
- previous loan applications
- overdue accounts
- defaults
- bankruptcy information
- Remember; overdue accounts, even if you pay them, remain on your file for five years.
Property Valuation
All
approvals are subject to the property valuation. The loan will be
'conditional' until this is completed. Once the lender receives the
report, they will check that the valuation is within the parameters of
the conditional approval amount. If it is, then the loan becomes
unconditional and you are now fully approved. Keep a copy of your
application and any attachments for any future reference.
Personal ID
Generally,
you will need proof of your income, residence, savings and identity.
Although no-documentation loans and low-doc loans require limited or no
proof of income, proof of identity is non negotiable, and is required
on all home loans.
Your Credit Profile
Your
credit history will be assessed and taken into account. Your credit
profile is made up of your personal details, credit applications from
the previous five years, overdue accounts, bankruptcy information and
public record information.
Our mortgage brokers are trained
and experienced is securing great home loans for all types of
properties. So, for more information and assistance with applying for
a home loan, talk to a local Sydney mortgage broker. You can call us on 1300
787 665 or submit your details to us on line.
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Sydney Home Loans
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No longer just a basic home loan. Full features like redraw, all at low interest rates. |
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Make life easier with a single monthly repayment. |
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New low interest rates are now on the market. Time to refinance and save.
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Don't be penalised just because you run a successful small business. Be treated as an equal here.
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Access the equity in your home to buy investments, fund home improvements or take that once-in-a-lifetime holiday.
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Introductory or honeymoon home loans can have some of the lowest interest rates around.
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