Find a great mortgage broker in Wagga Wagga

Information verified correct on December 7th, 2016

If you need to borrow money to buy property in Wagga Wagga, an experienced local mortgage broker can help you find the best home loan for you.Mortgage broker Wagga Wagga

The largest inland city in NSW, Wagga Wagga sits on the banks of the Murrumbidgee River and is home to more than 55,000 people. Located almost halfway between Sydney and Melbourne, the Riverina city combines the facilities and amenities of a major centre with abundant opportunities for outdoor recreation.

If you’re looking to buy property in Wagga Wagga and you need to borrow money to make it happen, get help from a local mortgage broker. A broker can offer the advice and expertise you need to find the right home loan.

Which brokers operate or have offices in Wagga Wagga?

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

  • Janette Tucker Finance Plus
  • Tom Looney Finance
  • Virtue Finance

What are the main suburbs in and around Wagga Wagga?

Mortgage broker Wagga Wagga Map

Source: Google Maps

1. Wagga Wagga

Wagga Wagga’s CBD is found just a stone’s throw from the Murrumbidgee River and is home to two major shopping centres. As the major centre for people across the Riverina region and southwestern NSW, Wagga Wagga is a thriving regional city.

The population in Wagga Wagga is 6,961 and the median weekly household income is $978. The two largest demographic groups in the suburb are independent youth (24%) and elderly singles (14.3%).

The median house price in Wagga Wagga is $372,000, annual capital growth is 4.13% and gross rental yield is 4.75%.

2. Kooringal

Found 4km south-east of the Wagga Wagga CBD, Kooringal is one of the city’s growth suburbs. Home to several schools and a large shopping centre, it has a population of 7,308.

The median weekly household income in Kooringal is $1,021. The two largest demographic groups in the suburb are older couples and families and established couples and families, which respectively make up 19% and 15.6% of the local population.

The median house price in Kooringal is $290,000, annual capital growth is 2.33% and gross rental yield is 5.74%.

3. Lake Albert

Named after an artificial lake constructed in the 1890s, Lake Albert is a south-eastern suburb of Wagga Wagga. Home to parklands and a wide range of watersports opportunities, Lake Albert also features three schools and a shopping centre.

The population of Lake Albert is 5,881 and the median weekly household income is $1,436. Older couples and families and established couples and families are the two largest demographic groups in the suburb, respectively making up 35% and 15.6% of the population.

The median house price in the suburb is $338,500, annual capital growth is 2.91% and gross rental yield is 5.38%.

4. Glenfield Park

A fast-growing southern suburb of Wagga Wagga, Glenfield Park has been the site of rapid housing development in recent years as buyers snapped up the affordable flat sites available. The suburb is home to a large shopping centre and has a population of 5,249.

The median household income in Glenfield Park is $1,325 per week and the two largest demographic groups are maturing couples and families (18.7%) and older couples and families (18.1%).

The median house price in Glenfield Park is $283,250, annual capital growth is 1.57% and gross rental yield is 6.24%.

Buying property in Wagga Wagga

Make sure to consider the following if you’re thinking of buying property in Wagga Wagga:

  • Evocities campaign. In late 2015, Wagga Wagga joined forces with the councils of six other regional centres – Albury, Armidale, Bathurst, Dubbo, Orange and Tamworth – to launch the Evocities campaign. Citing affordable property prices and data surrounding the happiness of rural and regional residents, the campaign aims to encourage people to relocate to regional NSW.
  • Property prices. In the 10 years from 2005 to 2015, Wagga Wagga’s median house price increased from $263,500 to $384,000. In that same period, the median unit price jumped from $187,000 to $226,250.

Suburb property prices in Wagga Wagga

Wagga Wagga

mortgage broker wagga wagga - wagga wagga graph

Source: APM PriceFinder

From 2014 to 2015, the median house price in Wagga Wagga increased from $348,900 to $384,000.

Kooringal

mortgage broker wagga wagga - kooringal graph

Source: APM PriceFinder

From $286,000 in 2014, the median house price in Kooringal increased to $300,000 in 2015.

Lake Albert

mortgage broker wagga wagga - lake albert graph

Source: APM PriceFinder

From 2014 to 2015, the median house price in Lake Albert increased from $317,500 to $332,900.

Glenfield Park

mortgage broker wagga wagga - glenfield park graph

Source: APM PriceFinder

From 2014 to 2015, the median house price in Glenfield Park remained steady at $279,500.

What will a typical mortgage cost in Wagga Wagga?

The median house price in Wagga Wagga is $372,000. If you wanted to take out a home loan to purchase a property at this price, in most cases you’d need to provide a 20% deposit of $74,400. If you then borrowed the rest of the purchase price ($297,600) at an interest rate of 4.5% p.a. for 25 years, your fortnightly repayments would be $763.04. The total cost over the life of the loan would be $495,976.73.

If you were to buy a unit for the median price of $245,000, a 20% deposit would equate to $49,000 and you would then have to borrow $196,000. If you took out a loan with the same terms as above, your fortnightly repayments would be $502.54 and the total cost of the loan would be $326,651.34.

How is a mortgage broker paid?

Mortgage brokers receive an upfront commission when you apply for a loan and a trailing commission every year there is still an amount outstanding on the loan.

Take a look at our guide on how mortgage brokers are paid for more information.

How does a mortgage broker work?

The National Consumer Credit Protection Act (NCCP) details the duty of care brokers have to help you find a loan that is right for your needs and that you can repay without enduring financial hardship. They must also let you know about any commission they stand to receive if you apply for a loan.

Our article on mortgage brokers explains the broking process in more detail.


Picture: DSC00925 by FeBird Hou, licensed under Creative Commons Attribution 2.0 Generic (image cropped)

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