A Penrith mortgage broker can match you with the right home loan by taking into account your borrowing needs.
Penrith sits 50km to the west of Sydney and is one of four cities within the Sydney metropolitan area. Located on the banks of the Nepean River, Penrith is one of Western Sydney’s major commercial centres and boasts strong transport links with the rest of the city.
Home buyers and property investors are drawn to Penrith for a number of reasons. Not only does it have numerous schools, nature walks, entertainment options and facilities, it also offers relatively affordable real estate compared to other parts of Sydney, NSW.
If you’re looking to buy a home or an investment in the area, read on to find a Penrith mortgage broker who can help you secure the perfect home loan.
Which brokers have offices in Penrith?
Other Penrith brokers
- Mortgage Choice Penrith
- 1300 Home Loan Penrith
- Above and Beyond Financial Services
- Calvary Financial Services Group
- Smartline Personal Mortgage Advisers
- Educated Finance
- Direct Access Home Loans
- Bluehouse Property Finance
- Pride Mortgage Services
- Resi Home Loans Penrith
What will a typical mortgage cost in Penrith?
The median house price in Penrith is $710,000. Assuming you take out a home loan with a 20% deposit of $142,000, you will need to borrow $568,000. Assuming an interest rate of 4.50% p.a. and a loan term of 30 years, this loan would require monthly repayments of $
How is a mortgage broker paid?
In most cases, mortgage brokers will not charge you a fee for their services. Instead, lenders usually pay brokers a commission. There are two types of commissions, the first of which is an upfront commission based on the amount you borrow.
The second type of commission is called a trailing commission and is calculated based on the remaining amount on your loan each year.
How does a mortgage broker work?
A mortgage broker is a middleman who can match borrowers up with a home loan from a reputable lender. By using an aggregator to connect with major lenders, a mortgage broker can offer loans from a wide range of financial institutions.
After assessing your income, your financial situation and your borrowing requirements, a good mortgage broker will then present you with a selection of suitable home loans from a variety of lenders.
Picture: Penrith CBD by Saberwyn, licensed under Creative Commons Attribution-ShareAlike 3.0 Unported (image cropped)