How to find a good mortgage broker in Penrith

A Penrith mortgage broker can match you with the right home loan by taking into account your borrowing needs.

penrithPenrith 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?

Rates last updated July 22nd, 2017
Details Features
Aussie Home Loans
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. Up to 20 lenders Enquire Now More info
eChoice Mortgage Brokers
eChoice Mortgage Brokers
When you do business with eChoice you will be given your own home loan manager to help you select a loan. 25 lenders Enquire Now More info
iConnect
iConnect
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+ lenders Enquire Now More info
Pepper Money
Pepper Money
Pepper specialises in providing fair home loans to those who are credit impaired - from small defaults all the way up to discharged bankruptcies. Credit impaired home loans Enquire Now More info

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.

Learn more about how mortgage brokers are paid

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.

Find more information about how mortgage brokers work


Picture: Penrith CBD by Saberwyn, licensed under Creative Commons Attribution-ShareAlike 3.0 Unported (image cropped)

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3 Responses

  1. Default Gravatar
    SuzyJune 1, 2017

    Hi, looking for a personal loan for $200,000
    With a percentage rate under 7.
    Wanting to build on my mothers property but the banks want me on the deeds but with a $1.5 million dollar property it is to much in stamp duty.. so the next thing is a personal loan if anyone can help or have ideas without my mum refinancing.

    • Staff
      MayJune 1, 2017Staff

      Hi Suzy,

      Thank you for your inquiry.

      I’m afraid that lenders in Australia may only offer a maximum of $50K for an unsecured personal loan as they find it a high risk when lending more than that amount. So, your other option would be refinancing if you want to get $200K. You may reconsider a line of credit when refinancing the home loan with a credit limit of $200K, however, to get that amount you will need to use the equity in your home as security.

      There are lenders in the market that offer a line of credit home loan here that you can contact to discuss your options. Although, you can also speak to a mortgage broker who can take into account your circumstance and offer a range lending options for you.

      Hope this helps.

    • Default Gravatar
      SuzyJune 1, 2017

      Thanks for your help.

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