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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