Get the money you need to buy your dream home in Melbourne with help from a local mortgage broker.
Melbourne, the coastal capital of Victoria, is a city known around the world. Famous for everything from its coffee and fine dining to its obsession with sport, Melbourne regularly features on lists of the world’s most liveable cities.
More than 4.3 million people call the broader Melbourne area home. If you’d like to buy property in the region and you need to take out a home loan to do so, ask an experienced local mortgage broker to help. There are hundreds of brokers to choose from across Melbourne, so here’s how to find the right broker for you.
Which brokers have offices in Melbourne?
Other brokers in Melbourne
- Smartline Personal Mortgage Advisers
- Proper Finance
- Citiwide Mortgage Services
- Assertive Financial Group
- Oak Laurel
What will a typical mortgage cost in Melbourne?
If you buy a property in Melbourne at the median dwelling price of $665,000, a 20% deposit would be $133,000. If you then borrowed the remaining purchase price of $532,000 at an interest rate of 4.50% p.a. on a 30-year loan, your monthly repayments would be $2,695.57. The total cost of the loan would be $970,403.71.
How is a mortgage broker paid?
Instead of receiving payments from borrowers, mortgage brokers are paid commissions from lenders when they attract new business for a lender. They receive an upfront commission when you take out a loan and a trailing commission every year that you still owe money on your mortgage.
How does a mortgage broker work?
A mortgage broker can help you secure the financing you need to buy the property you want. After assessing your financial situation, a broker will present you with a choice of suitable loans from their panel of lenders. As part of this process, they have a duty of care to ensure that they match you with a loan that meets your borrowing needs.