If you’re looking to buy a home in Tamworth, an experienced mortgage broker can offer the advice and assistance you need.
Situated on the banks of the Peel River, Tamworth is best known around Australia for its annual country music festival. While the festival draws tens of thousands of visitors to Tamworth every year, there are also almost 48,000 people that call this region of NSW home.
Combining the slower pace of a country lifestyle with all the facilities and entertainment options you’d expect to find in a large regional centre, Tamworth is an ideal place to live if you’re keen on a tree change.
If you’re looking to buy property in and around Tamworth, finding a local mortgage broker with years of knowledge and experience can help you get a better home loan deal.
Which brokers have offices in Tamworth?
Other brokers in Tamworth
- Aussie Tamworth
- Loan Market
- Priority Home Loans
- Eastland Finance
What will a typical mortgage cost in Tamworth?
The median house sale price in Tamworth is $359,500, which means a 20% deposit would be $71,900. If you were to borrow the remaining $287,600 from a lender at a rate of 4.5% p.a. on a 30-year loan, your monthly repayments would be $1,457.23 and the total cost of the loan over its term would be $524,601.70.
How is a mortgage broker paid?
Many borrowers are surprised to learn that you actually don’t pay anything to most mortgage brokers. Instead,brokers are paid a commission from the lender you take out a loan with. Brokers receive a commission upfront and a trailing commission that is calculated based on the outstanding amount remaining on your loan each year.
What does a mortgage broker do?
The job of a mortgage broker is to carefully assess your financial circumstances and borrowing requirements before offering you a choice of suitable loans. Brokers have access to a panel of lenders through an aggregator, allowing them to provide you with a range of mortgage options.
Mortgage brokers are regulated by the National Consumer Credit Protection Act (NCCP), which specifies their duty of care to provide you with a suitable loan that will not place you in financial difficulty.
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