Experienced Mortgage Brokers in Unanderra

Illawarra Mortgage Brokers have worked in the Unanderra and surrounding suburbs for over 2 decades. We are confident that you will be happy with our mortgage brokers in the area, who really know their job. We have provided recommendations and ongoing service to many customers in the Unanderra area, in our many years in business. If you are looking to refinance your home loan or buy a home or investment property in the unanderra area, we would be more than happy to explore some lending options with you.

Because we are aware that obtaining a mortgage is a significant financial step, Illawarra Mortgage Brokers takes the time to really understand the needs of our clients, We get right into the detail of what may be needed to ensure that the right lender is approached the first time. An extensive conversation with our customers determines the kind of loan that will best meet their specific requirements. In order to provide our customers with the most advantageous offer possible, we evaluate the terms offered by a variety of financial institutions, including the nation’s largest banks and also the non-bank lenders on our panel.

We are committed to locating the most suitable mortgage option for each customer, and we take great satisfaction in providing exceptional service to each of our clients. We provide a free consultation to discuss your home loan requirements, and we will work with you every step of the way to ensure that you obtain the best deal that is based on your individual circumstances.

The loan approval process and the stages of a home loan application

The process of obtaining a mortgage involves a significant number of processes; however, our mortgage brokers who operate in and around the Unanderra local area will assist you through each and every one of these steps. The following is a list of some of the ways in which they will be assisting you:

Step one – Determine the correct lender for the home loan application that you are going to put forward,

Step two – Prepare an application and have it signed, along with gathering the required information for the lender’s checklist.

Step three – A property valuation would be ordered at this point – unless it is a pre-approval.

Step 4 – The loan is lodged with the relevant lender by your mortgage broker for their approval.

We monitor the progress of the loan and answer any questions that the lender may have to complete their assessment of your loan application.

Once the lender is satisfied and provides a formal approval, we will then move to the next step which is going over your loan contract for the home loan to ensure everything is correct. We then assist you in signing the home loan documents and advise if we need anything else such as a discharge form for a refinance or to complete any building insurance requirements etc.

Then it is just a matter of waiting for the settlement of the home loan to take place. At all times your mortgage broker will be able to tell you where the application is up to, during this process.

Determining your borrowing power

If you are interested in purchasing a property or refinancing your home loan, our mortgage brokers are here to assist you. We are able to assist you in determining how much money you are capable of borrowing from each of the different lenders on our panel. Every lender determines you borrowing power based on the same factors. These factors are:

1. Your income and how long you have been with your employer. Is it full time, part time or are you self-employed etc as each of these will have a bearing with a lender when approving a home loan. 

2. Your current level of debt that is remaining once you have the home loan. So are we consolidating any loans to give you more borrowing power? Are credit card or personal loans impeding your ability to refinance or purchase a property?

3. How many dependent children you have – Children are treated as a liability with every lender – the more you have, the bigger the effect on your borrowing capacity.

4. Your living expenses – it is worth noting that the lenders have their own estimates that they use regarding the minimum expenses they will use. It is all built into their calculators. 

We can locate the most suitable mortgage rates and conditions for you.

Our mortgage brokers are professionals in locating the best mortgage interest rates and loan products that are most favourable to each client’s specific circumstances. We have relationships with a large variety of lenders and can work with you to obtain a loan that meets your specific requirements.

Engaging a mortgage broker from Illawarra Mortgage brokers will help you with this process of finding the right loan at the start of you home loan process. Our mortgage brokers who work in the Unanderra area are able to assist you in locating the home loan that is most suitable for your circumstances, whether you are interested in a lower interest rate, specific loan structuring or a loan with no fees or lower fees or a combination of all of these features.

Assisting you in evaluating lenders to select the most suitable one for you.

Home loans are not all equal, and therefore neither are the lenders and banks that we deal with. As we deal with the majority of the well-known and established lending institutions that provide home loans, you can be sure that the loan consultants who work at Illawarra Mortgage Brokers know and understand the policy of these lenders in great detail. It is this knowledge that allows us the options of who to recommend and why.

Everything we do is based on what will work best for the home loan application that we are processing. Some lenders are harder to deal with, some are not, some are slow to get a home loan approval, others are fast. Some are just plain not in the running with their products and then we have others who provide amazing products and service.

It is all about knowing who is doing what, and how efficiently they can process a home loan application. Our mortgage brokers will assist you with determining which lenders are going to provide the best mortgage option for you. we are also able to negotiate with lenders on your behalf to get the most favourable interest rates feasible for the loan. Pricing discounts are achieved on a regular basis when dealing with lenders who are hungry for new business. We can often make it work better for our clients via further discounts from the lender.

We assist you with the application process from start to finish

When it comes to applying for your mortgage, whether you want to refinance an existing home loan or purchase a property, working with a mortgage broker from Illawarra Mortgage Brokers will be very beneficial for you. We are able to assist you with the sometimes-confusing documentation relating to the initial application and also the loan contract documentation.

There are processes that need to be followed when submitting this documentation back to the lender. It is not difficult when we are assisting you, as we do this every day, and we are familiar with the requirements needed.
We are there every step of the way to assist our clients in having a good experience in applying for a home loan and having the home loan moving along properly at every stage, up until the loan is settled and completed.

Please call us for more information

Please get in touch with us at Illawarra Mortgage Brokers if you are seeking the assistance of experienced mortgage brokers around the Unanderra area. We will put you in touch with a mortgage broker who is going to take the time to understand your requirements and one who will be able to offer recommendations to you that will assist you with your refinance or home purchase. Because of our extensive associations with the lenders on our panel, we are confident that we will be able to tailor your loan to suit your individual circumstances. Please call us on 0242 575 626 if you would like to speak to an accredited mortgage broker for professional guidance.