What questions should you be asking your mortgage broker before getting a home loan?
Want Chris and the team to help on your property-buying journey? Get in touch with the team at Blusk here!
👀 Here are some of the key points we cover in this episode:
- Buying a house is a big financial decision – you need the right team in your corner
- Finding a professional you feel comfortable working with makes a huge difference
- Getting you a better rate can save a lot of $$$ long term
- Can help answer your questions about the loan process and how everything works
- How early on your home-buying journey should you talk to a broker?
- Are they licensed to give you credit advice? Search for credit rep or licensee on ASIC Connect’s Professional Registers
- How to find a good mortgage broker? Any red flags?
- How do brokers get paid?
✅ Essential questions to ask your mortgage broker
- Are you able to help me with my circumstances? Ie. some brokers deal with smaller clients, investment properties, small businesses
- What range of lenders do you have access to? Any you can’t access?
- What timeframe should I be expecting? How will you keep me updated?
- Once they’re recommended a loan: why is this a good fit? How does this compare to other options? What features does it have (e.g. offset)? What fees do I need to be aware of?
- Future looking: How often will you review my rate in the future to ensure I’m always getting a great deal? Can you help with my next move?
- Borrowing Capacity – Educate on how it increases and decreases? What can I do to improve my borrowing capacity?