If you’re a first home buyer or even an experienced one, it can be very confusing trying to decide which home loan option is the best for you.
With so many home loan choices available, I’m often asked whether or not it is a good idea to talk to a mortgage broker to help find the best loan.
Mortgage brokers can be great, but whether or not they will be useful for you, depends on how confident and savvy you are in finding a good home loan deal on your own.
If you don’t have a lot of experience with home loans and don’t want the fuss of having to research home loans for yourself, then a mortgage broker can definitely be beneficial. If you find a mortgage broker that is good, then they can save you a lot of time and money and help negotiate the best home loan deals for you. Using a mortgage broker can also help you get approved for loans that you otherwise wouldn’t have if you went directly to a lender.
On the other hand if you have already done your research and have found the best product on the market, then there is essentially little need for a mortgage broker and you may find it easier to simply go and speak to your lender of choice.
Whether you go to a mortgage broker or a bank though, don’t settle for any terms or conditions you feel uncomfortable with and make sure that ultimately you end up with a home loan that meets all of your requirements.
To start doing some home loan research for yourself, a useful home loan comparison website is www.infochoice.com.au or if you would like to talk to a mortgage broker then please feel free to get in touch with me and I’ll be happy to recommend somebody for you.