How To Find A Mortgage Broker Online
by Mashum Mollah Real Estate 11 December 2018
If you are looking to acquire some real estate in the not too distant future, sourcing a good mortgage broker is an essential requirement, and there’s no better platform for doing that than the Internet. While there are many online mortgage brokers, knowing which are the high performers is no easy task, and with that in mind, here are some useful tips for sourcing a competent mortgage broker online.
Make Sure Your Credit Score Is Good:
Prior to contacting lenders, it is wise to ensure that your credit score is healthy as this will give you a little more bargaining power when it comes to securing a mortgage. One of the first things a professional mortgage broker in Sydney will want to know is the status of your credit rating, so make sure there are no outstanding debts that could hinder your mortgage application.
Look For A No-Fee Mortgage Broker:
The mortgage broker should not charge the borrower for their services, as they would receive a small remuneration from the lender. This is indeed good news, as there are many fees and costs that a property purchase entails, such as stamp duty and conveyancing fees. It is also advisable to calculate all of the costs involved in the purchase to ensure that you can afford the property, and if you are a first-time buyer, you might qualify for some tax concessions. Your mortgage broker can tell you whether or not you qualify for any concessions, as there are many variables to take into account.
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Go With An Independent Mortgage Broker:
An independent mortgage broker is not tied to a single lender, and they are able to tailor a mortgage to suit the client, rather than trying to force a loan that is not 100% suitable. If you start with an online search, this should give you a list of mortgage brokers and by eliminating those who are tied to a single lender, you should be left with a few independent brokers and you can narrow down your search even further by asking the right questions. There are a few more tips on finding the right mortgage broker that you can find online and which might be of some help
Tried And Trusted Broker:
It isn’t worth taking a chance on someone who is new to the industry, so look for an independent broker who has a good track record. The ideal candidate would have a long list of client testimonials on their website, which gives you an added sense of security. If, for example, you are looking to buy property in a Sydney suburb, then time is of the essence, as good properties are snapped up quickly, and by finding a broker who can act promptly, you have more chance of securing a dream property.
Once you have made contact with an independent mortgage broker, ask them to help you obtain mortgage preapproval, as, without this, the seller will not take you seriously. If you have a good mortgage broker in your corner, should you find the right home, they can act quickly and you can make an offer.
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