Whether you’re visiting your mortgage broker in Central Coast for the first time or if you’re a repeat customer, it’s always a smart idea to take the time to do some research and think about what you want to ask before going into a meeting with them. Taking the time to make a list of relevant questions can help to ensure you get the full picture of buying a house and can help you decide whether or not your mortgage broker in Central Coast is the right one for you. Preparation is key when it comes to buying a house, it can be one of the most exciting times of a persons life but also one of the more stressful experiences someone can go through. Here are a few things you should ask your mortgage broker in Central Coast.
How do you make your money?
This might seem like a rude question but it’s actually an important thing to know. Most often, you’re not required to actually pay your mortgage broker in Central Coast, instead they get paid by the lender than you choose to go with. It’s worth getting an idea of their commission structure however as this can vary from person to person and with different lenders and might give you an insight into why the might recommend a particular lender over another. One of the best approaches is when the same commission is paid regardless of the lender ensuring that your mortgage broker in Central Coast is simply trying to get you the best loan they possibly can.
How many lenders do you work with?
This is an important thing to know. Some professionals will work with many different lenders and banks whilst others will have a smaller list. Generally the more lenders they partner with the better for you as it means they have more options to work with and are more likely to be able to find a product that works for your particular needs. It’s not good if they’re list is too large however as it could mean that they don’t have enough familiarity with all the products on their roster to find you the right loan option anyway.
What document do I need?
Your mortgage broker in Central Coast should be able to let you know what documentation you need before you meet so that you can get it across to them and streamline the application process, this can make the loan process much simpler and less stressful. Most lenders will typically need a passport, drivers licence, pay slips and bank statements from the last few months. You may also need a letter from your employer or other supporting documentation.
What home loans are right for me?
There are a lot of different home loan options on the market and they all come with different features and fees. Your mortgage broker on Central Coast should be able to give you a good idea about what features like redraw facilities or offset accounts are suitable for you and your lifestyle. They should also be able to talk you through account fees and costs to help you settle on a loan product that suits your needs.
Why is this the right loan for me?
You will likely be presented with a number of home loan options and your mortgage broker in Central Coast should be able to walk you about the benefits and drawbacks of each one and explain why it works for you. A home loan is a big commitment so it’s important you understand what you’re entering into.