Becoming a first time home buyer is one of the most rewarding experiences you’ll ever have. As you begin the process of scouting for your first ever home, you’ll want to take some time to find a mortgage broker that fits your needs.
By asking the right questions and knowing where to look, you can find a first time home buyer mortgage broker that truly cares about your future homeownership.
Choosing a mortgage broker for first home buyers
The difference between a good mortgage broker and a great mortgage broker is significant. Not only should the broker you choose should have plenty of experience in the field, but they should be highly regarded by other first time buyers within the community.
Start looking for a mortgage broker for first time home buyers that is:
Knowledgeable. Choose a broker with plenty of experience working with first time home buyers. Ask friends and family for referrals, or check out some online reviews.
Dependable. They will offer guidance while choosing the home loan that’s right for your unique situation.
Available. Know that you could reach your mortgage lender at any time you need, without playing phone tag or waiting for a response.
Honest. You should never feel as if your mortgage broker is cagey, quiet, or not forthcoming. Instead, partner with a broker that makes you feel valued, important, and ready for anything.
Transparent. You need to know what to expect from the lending process — no tricks, secrets, or fine print. Your mortgage broker should be able to provide all the necessary context up front, which will prepare you for all next steps.
Questions for a first time home buyer to ask mortgage brokers
Start the process of locating a first-time buyer’s mortgage broker by asking some targeted questions. These will help you narrow down the list and better determine the right fit for your focus, future, and personality.
How much can I afford to spend on a property?
Your mortgage broker should be able to provide plenty of guidance into what you can afford to pay month to month. This should also cover eventualities such as interest rate rises.What do my fees and expenses look like?
Get detailed information about closing costs, LMI insurance, interest rates, origination fees, and so much more.Where can I find more mortgage lending resources?
The mortgage broker you choose should have access to plenty of brokerage resources to help along your journey.Which type of loan should I get?
Your broker should be able to provide you with a no-nonsense answer about the types of lending available to you and what sort of factors can impact your monthly mortgage payments.
The professional first time home brokers at Mint Equity are prepared to answer any and all of these questions. Almost three decades of serving Australian clients with buyer support services have equipped us to prepare you and your family for the next big ownership milestone.
Chat with our first home buyer lending expert
Ben Harding
Finance Consultant
Ben is a weapon when it comes to lender and product knowledge and government initiatives like the First Home Buyer Deposit Scheme. He has a real passion for finance and is a sponge for information, which translates into providing clients with the latest lender options, proactive application management and out of the box options to ensure our clients receive fast approvals.
Get your first home buyer loans from Mint Equity
At Mint Equity, we are proud providers of first time home buyer loans to first-timers throughout Australia. Using decades of experience to build meaningful relationships with our clients, we are driven by excellence in all things. We take our commitment to industry leadership very seriously, and translate our business and banking experience into action for Australian home buyers.
Get in contact with Mint Equity today and discover how quickly we can help you secure the home of your dreams. Talk to a mortgage broker now to learn more.