Getting a loan to buy a home in Central Coast does not have to involve relentless research, especially if you turn to a good mortgage broker.
The Central Coast came into being as a standalone region in December, 2005. The population of this region is growing steadily at 1% per year, and so are the number of homes and homeowners. Some of popular areas in the Central Coast include Gosford, Erina, Woy Woy, Terrigal, Wyong, Lake Haven, and Tuggerah. This region continues to rise in popularity as a tourist destination, and it also finds favour with a number of retirees. Many people who live in the south commute to Sydney every day.
When you’re looking to buy a home in or around the Central Coast and you need a loan, you may need to get in touch not just with the big banks, but with local banks and credit unions as well. This can be time consuming, and at the end of it all, you still might not cover all your options. One option you have is seeking assistance from a professional mortgage broker. A broker can find you loans from different lenders, negotiate on your behalf, and also help you complete your loan application.
Central Coast mortgage brokers comparison
What areas in the Central Coast are mortgage brokers available?
By comparing the mortgage brokers on this page you can find a reputable mortgage brokering company which can cater to those in the Central Coast. Your options include brokerage firms with national networks who guide you to local mortgage brokers, or you can get in touch with local brokers directly. Irrespective of where in the Central Coast you wish to purchase a home, you should have a few options of mortgage brokers.
The Central Coast comprises of two shires, Gosford and Wyong, and they boast of homes in different settings ranging from city, to rural, to hinterland, to seaside. Just what you’re looking for should have a bearing on the area you choose, and in any case, you can get professional advice from a mortgage broker.
Given below are some of the popular areas in Central Coast where mortgage brokers are available.
Image credit: By Rufusferret (Own work) [CC-BY-3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons
This suburb is less than 80 kilometres from Sydney’s CBD. The Central Coast campus of the University of Newcastle is in Ourimbah and it’s home to Central Coast’s first school, the Ourimbah Public School. It also houses a number of heritage listed buildings and historical sites.
This suburb is around 90 kilometres from Sydney. It serves as an important commercial and industrial area, and boasts of the second largest shopping centre in the region, Westfield Tuggerah.
About 95 kilometres from Sydney, Warnervale is located just west of the Tuggerah Lake. This area has witnessed the development of a number of residential estates.
This is largely a semi-rural suburb, around 85 kilometres from Sydney. It has a shopping village, a grammar school, and a state-run primary school.
Gosford is about 76 kilometres from Sydney’s CBD. This city serves as the administrative centre of Central Coast, and is New South Wales’ third largest urban area. Many Gosford residents commute to Sydney for work and study, and the area boasts of good transport links.
This coastal town and southern suburb is less than 80 kilometres from Sydney. It has a NSW TrainLink railway station that serves many commuters who travel to Sydney for work every day.
What will a typical mortgage cost on the Central Coast?
If you choose to buy somewhere like Gosford, the median house price is $961,000. A 20% deposit would be $192,200. If you borrow the remaining $768,800 needed to purchase your home at an interest rate of 4.5% p.a. on a 30-year loan, you would need to be able to make monthly repayments of $3,895.40. The total cost over the life of the loan would be $1,402,342.80.
How is a mortgage broker paid?
Most mortgage brokers make money by earning commissions from lenders for directing new business their way. Lenders pay brokers an upfront commission when the loan is taken out and a trailing commission each year the loan remains with the lender.
How does a mortgage broker work?
Mortgage brokers are able to access a panel of lenders, which means they can offer you loans from a wide range of financial institutions. After assessing your income, your assets, your liabilities and your home loan needs, a broker can match you with a mortgage that meets your borrowing requirements.