Hacks from a Mortgage Broker in Canberra ACT

When it comes to taking out a mortgage, it is more than likely going to be one of the biggest commitments financially that you will make in your entire life.  With that being said, you have more than likely wondered about any type of hacks that mortgage brokers know about in order to get their clients a better rate and save some money.  Here are some of the top hacks for getting the best rate that you possibly can from mortgage brokers Canberra.

Always Negotiate a Better Interest Rate

As far as getting the best interest rate on your mortgage loan goes, you are going to want to make sure that you do your homework.  This means that you should take a little bit of time to shop around with different banks and even non-bank mortgage loan lenders in order to make sure that you are truly getting the very best interest rate when it comes to your potential home loan.

Find out about a competitive rate from a different lender and then check with your lender to see if they are offering any type of new customer incentives that can bring your interest rate down lower.  Be sure that you tell your bank that you may be getting a much better deal someplace else and that you are going to go with them if they do not bring down your interest rate to a more competitive one.  It doesn’t hurt to ask them to lower your interest rate, and if you show up with proof that you can get a better deal with a different lender, your bank will be more inclined to take you more seriously.

If you need help finding different mortgage lenders to shop around out, you can find any different home loan comparison sites online that you can use, or you can always utilize the services of a mortgage broker who will be able to compare hundreds of different loan options with multiple lenders.  This will save you both time and money.

Home Loan Packages and Annual Fees

A home loan package is going to allow you to add all of the extras onto your mortgage loan, which includes a redraw facility, credit card, offset account, and even the option to create a bundle with some of the other financial products that are being offered to you by your bank.  The interest rates that you will be offered on your home loan package are typically going to be much less than that of a standard mortgage.

Costs are typically going to be applied to your home loan package and will be paid in a single annual fee, as opposed to a regular monthly payment.  With that being said, it is going to be in your best interest to weight what the total costs will be, as well as what the total savings will be prior to making any oft these important decisions.  Just remember, the more prepared you are when it does come time to get your mortgage loan, the better the rate and loan you will end up getting.