How to find a great mortgage broker in Rockhampton

Information verified correct on December 9th, 2016

Find an experienced mortgage broker in Rockhampton who can give you the expert advice you need to find the perfect home loan.

Mortgage Broker Rockhampton Feature

Sitting on the Fitzroy River just 600km north of Brisbane, Rockhampton is home to more than 80,000 people. With a lovely climate that produces more than 300 days of sunshine each year, not to mention the natural beauty of the Capricorn Coast, Rockhampton has plenty to offer to anyone thinking of moving north.

If you’re looking to buy a house or unit in Rockhampton, you’ll need to find an experienced mortgage broker who can match you with the ideal home loan for your borrowing requirements. Here’s how to go about it.

Which brokers have offices in Rockhampton?

Broker Details No. of Lenders
Aussie Home Loans Details and Application
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.

20 Enquire
More info
Online Home Loans Details and Application
Online Home Loans

Online Home Loans is a mortgage broker service designed to help Australian borrowers find the right home loan – and do it all online.

Enquire
More info
iConnect Financial Services
iConnect Financial

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+ Enquire
More info

Other brokers

  • Esdale Sinclair and Associates
  • DLV Finance
  • Finance First
  • CQ Loan Centre

What are the main suburbs within Rockhampton?

Mortgage Broker Rockhampton Map

Source: Google Maps

1. Rockhampton City

The city of Rockhampton sits on the banks of the Fitzroy River, and the riverfront area is currently undergoing a $15 million redevelopment. The inland city has a number of heritage-listed sites and also hosts the annual Village Festival, Central Queensland’s largest music and arts event.

Rockhampton City’s population of 3,553 is dominated by established couples and families (16.9%) and independent youth (16.9%), while elderly singles make up a further 16.5% of the population.

The median house price in Rockhampton City is $200,000, with an average annual growth of 15.63% and gross rental yield of 6.76%.

2. The Range

Located approximately 3km west of the Rockhampton CBD, The Range sits in the foothills of the Athelstane Range. It has a population of 5,369 and a median weekly household income of $1,435.

The two largest demographic groups in the suburb are established couples and families and older couples and families, which make up 21.4% and 21.3% of the local population respectively.

The median house price is $360,000, average annual capital growth is 6.62% and the median advertised weekly rent is $340.

3. Frenchville

7km north of the Fitzroy River, Frenchville sits at the base of the Berserker Range and is home to 9,159 people. The residents of Frenchville have a median age of 36 and a median weekly household income of $1,402.

The two largest demographic groups in the suburb are older couples and families (22.1%) and established couples and families (18.4%).

With a median house sale price of $318,500, annual capital growth in Frenchville is 5.34% and gross rental yield is 5.47%.

4. Norman Gardens

This residential suburb of Rockhampton sits just to the north of the CBD. It borders Mt Archer National Park and is home to CQ University.

The population of Norman Gardens is 8,430 and the median weekly income is $1,448 per household. Older couples and families (21.4%) and established couples and families (19.9%) are the two largest demographic groups in the suburb.

The median house price in Norman Gardens is $417,500 and annual capital growth is 6.64%. The weekly median advertised rent is $350 and gross rental yield is 4.36%.

5. Gracemere

Mortgage Brokers Rockhampton - Gracemere map

Source: Google Maps

Gracemere sits on the Capricorn Highway about 9km west of Rockhampton. Known as a commuter town, Gracemere has good transport links with Rockhampton and features three schools.

Gracemere’s population is 8,400, of which 21.9% of are established couples and families and 20.8% are older couples and families. The median weekly household income is $1,494.

The median house price in Gracemere is $343,750, annual capital growth is 7.2% and gross rental yield is 4.77%.

Buying property in Rockhampton

Take the following points into consideration if you’re thinking of buying property in Rockhampton:

  • Riverfront redevelopment. At the time of writing, development is underway on a $15 million project to upgrade Rockhampton’s Riverfront. The first stage of the extensive redevelopment is expected to be completed by August 2016.
  • Property prices. In 2005, the median sale price for a house in Rockhampton City was $124,000. In 2015, that figure was $215,000.

Suburb property prices in Rockhampton

Rockhampton

Mortgage Broker Rockhampton - rockhampton city graph2

Source: APM PriceFinder

From $199,000 in 2014, the median sale price for houses in Rockhampton City rose to $215,000 in 2015.

The Range

Mortgage Broker Rockhampton - the range graph

Source: APM PriceFinder

The median sale price for a house in The Range increased from $351,000 in 2014 to $365,000 in 2015.

Frenchville

Mortgage Broker Rockhampton - frenchville graph

Source: APM PriceFinder

From $345,500 in 2013, the median sale price for a house in Frenchville dropped to $328,000 in 2015.

Norman Gardens

Mortgage Broker Rockhampton - norman gardens graph

Source: APM PriceFinder

The median house price in Norman Gardens increased from $400,000 in 2014 to $421,500 in 2015.

Gracemere

Mortgage Broker Rockhampton - gracemere graph

Source: APM PriceFinder

From $355,000 in 2013, the median sale price for houses in Gracemere fell to $338,000 in 2015.

What will a typical mortgage cost in Rockhampton?

For the median house price in Rockhampton of $200,000, most lenders would require you to front a 20% deposit of $40,000 when taking out a loan. If you borrowed the remaining $160,000 of the purchase price at 4.5% p.a. on a 25-year loan, your fortnightly repayments would equal $410.24. The total cost to you over the life of the loan would be $266,654.15.

The median unit price in Rockhampton is $385,000, so a 20% deposit would set you back $77,000. If you borrowed the remaining $308,000 at an interest rate of 4.5% p.a. on a 25-year loan, your fortnightly repayment amount would be $789.71 and the total cost of paying off the loan would be $513,309.25.

How is a mortgage broker paid?

The vast majority of brokers make their money on commissions they receive from lenders for generating new business. They receive an upfront commission when you first apply for a loan and a recurring or trailing commission every year that is based on the amount still owing on your loan.

Learn more about how mortgage brokers are paid

How does a mortgage broker work?

The National Consumer Credit Protection Act (NCCP) sets out the roles and responsibilities for mortgage brokers in Australia, including their duty of care to ensure that you are paired with a loan that satisfies all your financial requirements. Your broker is also required to disclose any commissions they will receive for signing you up to a mortgage.

Find out more about how mortgage brokers work

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