How to select a great mortgage broker in Frankston

If you want to buy property in Frankston, a local mortgage broker can help you find the right home loan for your needs.Mortgage broker frankston feature 3

An outer suburb of Melbourne, Frankston sits at the top of the Mornington Peninsula. The surrounding area of Frankston City sits on the eastern shores of Port Phillip Bay and is home to more than 125,000 people.

If you’re looking to buy property in Frankston and you need to take out a loan to do so, finding a mortgage broker in the area is the best way to secure a home loan that’s perfect for you.

Which brokers operate in or have offices in Frankston?

Rates last updated July 23rd, 2017
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Aussie Home Loans
Aussie Home Loans
Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you. Up to 20 lenders Enquire Now More info
eChoice Mortgage Brokers
eChoice Mortgage Brokers
When you do business with eChoice you will be given your own home loan manager to help you select a loan. 25 lenders Enquire Now More info
iConnect
iConnect
iConnect has hundreds of loans available through more than 40 lenders in Australia to choose from to find the home loan that is right for you. 40+ lenders Enquire Now More info
Pepper Money
Pepper Money
Pepper specialises in providing fair home loans to those who are credit impaired - from small defaults all the way up to discharged bankruptcies. Credit impaired home loans Enquire Now More info

Other brokers in Frankston

  • Loan House
  • Select a Mortgage
  • Southside Finance
  • Harmony Home Loans
  • Money Man
  • Buyer’s Choice Home Loan Advisory Service

What will a typical mortgage cost in Frankston?

If you want to buy a house in Frankston at the median price of $521,000, a 20% deposit would be $104,200. Borrowing the remaining $416,800 of the purchase price at 4.5% p.a. on a 30-year loan term would result in a monthly repayment amount of $2,111.86. The total cost over the life of the loan would be $760,271.17.

How is a mortgage broker paid?

Most mortgage brokers are paid in commissions when they generate new business for lenders. There are two types of commissions they stand to receive: an upfront commission when you take out the loan, and a trailing commission every year there is still money owed on the loan.

Read our guide to how mortgage brokers are paid

How does a mortgage broker work?

The National Consumer Credit Protection Act (NCCP) details a mortgage broker’s duty of care to help borrowers find a home loan they can repay without enduring financial hardship. After meeting with you, a broker will assess your financial situation and provide you with a selection of home loan choices from a panel of lenders. Mortgage brokers  also have a duty to disclose the details of any commission they will receive if you sign up for a loan.

Our guide to how mortgage brokers work

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