Home Loans
Home loan broker
Finding the right home loan can be difficult if you’re navigation the options by yourself, there are literally 100’s of home loan options available, but working with home loan brokers like Mint Equity means you have a personal shopper who narrows down the options that will suit your needs and lifestyle.
Banks and lenders modify their credit policies on monthly and sometimes weekly basis, so the home loan interest rate and product features are just the tip of the iceberg when it comes to selecting the right home loan.
That’s where a home loan broker is worth their weight in gold! Their job is to stay on top of any credit policies to make sure your home loan application has the best chance of approval.
Choosing the right home loan
There is more to choosing a home loan than just the interest rate, there are so many variables to consider and it’s important to know what options are actually available to you and your situation.
Let’s take a quick look at some situations where one lender will have a different policy to the next.
Overtime and bonus income
Will the lender accept 100%, 80%, 60% or no overtime and bonus income in your borrowing capacity?
Casual employment
What is the minimum timeframe you have to be with your current employer for the lender to accept your income in your borrowing capacity?
Child support maintenance
Will the lender include child support payments in your borrowing capacity or just a small percentage of the income you receive?
Property rental income
Will the lender include all the rent you receive from investment properties as income or just 80% of the amount received?
Family guarantees
Will your parents have to provide full income documentation and undergo a full borrowing assessment to go guarantor on your loan, or will they just need to advise of the equity position?
High density apartments
Will the bank lend you 95% or 80% if you’re purchasing an apartment in block with more than 6 floors?
Studio apartments
Will your bank give you a home loan if the property size is smaller than 40m2?
These are just examples of where one bank has a different policy to another bank and it’s impossible for borrowers to know the answers to these questions without the help of a home loan broker.
That’s where Mint Equity is here to help. We receive daily updates from lenders on their home loan policies and will provide you with a selection of lenders that suit your home loan needs.
Free home loan broker services
Did you know using Mint Equity as your home loan broker costs you nothing? We are remunerated by the lender you choose, so our services are at no cost to you. We offer a premium service to our clients with loads of features to help you get the right home loan.
Whether you’re looking for your first home loan, refinancing to a better interest rate or looking to expand your property portfolio, working with a home loan broker like Mint Equity will give you the backing of an experienced team with over 28 years banking and lending experience.
Contact us today to find the best home loan for your situation.