If you’re purchasing property in Wollongong, contact a local mortgage broker who can help you start the process.
Located in the Illawarra region, Wollongong is 82km south of Sydney. With a population of approximately 292,190, Wollongong is the third largest city in New South Wales and the 10th largest city in Australia.
The name “Wollongong” translates to “seas of the south” in the local Indigenous language, which is representative of its geographic position on the coastal strip between the Illawarra Escarpment and the Pacific Ocean.
Buying property is a major financial decision, which is why it’s worth consulting a mortgage broker who can guide you through the process and ensure that you’re getting a competitive deal.
A mortgage broker can draw upon their local knowledge of the property market, help you determine your serviceability potential and recommend mortgage solutions that are suitable for your personal situation.
Wollongong mortgage brokers comparison
- Illawarra Mortgage Brokers
- Mortgage Success
- Mortgage Choice Wollongong
- Smartline Personal Advisers
- Easyplan Financial Services
- Mortgage Wisdom
- Gateway Financial
What will a typical mortgage cost in Wollongong?
The median house price in Wollongong is $799,500 so you would need to budget $159,900 for a 20% deposit. If you took out a home loan for the balance of $639,600 at 4.5% interest over 30 years, your monthly repayment would be $3
How is a mortgage broker paid?
Mortgage brokers receive a commission from the lenders they work with. The most common commissions include an upfront commission and an ongoing or “trailing” commission, both of which are based on the product type and volume of the transaction.
How does a mortgage broker work?
Mortgage brokers in Wollongong have extensive knowledge of the property market and can draw upon their panel of lenders to source a competitive mortgage product that suits your borrowing needs.
With an obligation to exercise duty of care, brokers are required to only recommend home loans that are suitable for your personal and financial situation.