Do you need to borrow money to buy a property in Mackay? An experienced local mortgage broker can help you find the right home loan.
Famous for its sandy beaches, tropical rainforests and access to the Great Barrier Reef, Queensland’s Mackay has a lot to offer. Located 970km north of Brisbane, this thriving regional city is the sugar capital of Australia and home to around 150,000 people.
If you’re looking for a home loan to buy property in the Mackay region, enlist the help of an experienced local mortgage broker to find a loan that suits your personal situation.
Which brokers operate or have offices in Mackay?
- Smartline Personal Mortgage Advisers
- Loan Market
- Neil Barker Lending Solutions
- Lifestyle Finance
- Flair Financial
What will a typical mortgage cost in Mackay?
If you want to purchase a house in Mackay at the median price of $240,000, a 20% deposit would be $48,000. If you then borrowed the remaining house purchase price of $192,000 at an interest rate of 4.5% p.a. on a 30-year loan, your monthly repayments would be $972.84. The total cost of the loan would be $350,220.89.
How is a mortgage broker paid?
Most mortgage brokers make money on commissions from lenders for directing new business their way. In addition to an initial commission when you take out a loan, a trailing commission is also paid each year. The amount of this commission varies depending on how much you still owe on your loan.
How does a mortgage broker work?
Under the National Consumer Credit Protection Act (NCCP), brokers have a responsibility to help you find a loan suitable to your requirements and that you can repay without having to endure financial difficulty.