Find an experienced mortgage broker to help you get the home loan you need to step into the Sydney property market.
Sydney is one of the world’s great cities. Famed for its Opera House, spectacular bridge and beautiful harbour, Sydney is one of the most recognisable cities anywhere in the globe. It’s also home to more than 4.5 million people, offering everything from quiet suburban living to busy inner-city life.
If you want to buy a home in Sydney and you need to take out a home loan to do so, choosing the right mortgage can be a challenging prospect. That’s why enlisting an experienced mortgage broker to help you find the right loan is an excellent idea.
Which brokers have offices in Sydney?
- Smartline Personal Mortgage Advisers
- AMO Home Loans
- First Choice Mortgage Broker
- Origin Finance
- 1st Street Home Loans
What will a typical mortgage cost in Sydney?
If you want to buy a property in Sydney at the median dwelling price of $872,300, a 20% deposit would be $174,460. If you then borrowed the remaining $697,840 of the property purchase price at an interest rate of 4.50% over 30 years, your monthly repayments would be $3,535.85. The total cost over the life of the loan would be $1,272,907.00.
How is a mortgage broker paid?
As a reward for generating new business from customers, mortgage brokers receive two types of commissions from lenders. They are paid an upfront commission when you sign up for a loan, plus a trailing commission every year you still owe money on the loan. But if you decide to refinance your mortgage elsewhere, the broker might have to pay a clawback commission fee to your original lender.
How does a mortgage broker work?
Mortgage brokers have a responsibility to find you a loan that is perfect for your requirements and that you can comfortably afford to service. A broker will assess your income and financial capacity carefully before presenting you with a selection of suitable loans from their panel of lenders.