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A mortgage broker works with a range of banks and other lenders to find you the right home loan. You provide them with all of your details, including your financials and property information, and they can help you navigate different home loan products to find the one that will work for you. One mortgage broking firm you might want to consider is Choice Home Loans.
Who is Choice Home Loans?
Choice Home Loans is a mortgage consultancy firm that has been operating in Australia for nearly a decade. They have won multiple Australian Mortgage Awards for their commitment to helping people find the right mortgage product for them. They aim to provide high quality customer service and industry knowledge so you can secure a loan for investment, refinancing, or even for buying your first home.
Choice Home Loans can offer home loans from:
- Adelaide Bank
- AMP
- ANZ
- Australian Financial
- Australian First Mortgage
- Bank of Melbourne
- BankSA
- Bankwest
- ChoiceLend
- Circle Credit Union
- Citibank
- Commonwealth Bank
- Future Financial
- Heritage Bank
- Homeloans.com.au
- Homestart Finance
- ING DIRECT
- LaTrobe Financial
- Liberty Financial
- Loan Ave
- Keystart
- Macquarie
- Mystate
- NAB
- P&N Bank
- Paramount Mortgages
- Pepper Home Loans
- Phoenix Mortgage Management
- St.George
- Suncorp
- Westpac
What does it cost ?
Choice Home Loans offer their services to you for free, and work by charging the lender they work with a commission. You should note that some bank fees and charges may apply.
What loans do they offer?
As they are a mortgage broking firm, they do not offer home loans themselves. Rather, they work with over 30 home loan banks and lending institutions through which they find the right loan for you. Here are the type of loans they are able to help you with:
First home buyer loans
First home buyers are the least experienced buyers in the mortgage market, and so may be able to benefit the most from experienced mortgage brokers. Choice consultants can help first home buyers prepare their finances and determine your borrowing power, and they can also help you look for your dream home.
They can help you navigate legislation surrounding the First Home Owner’s Grant, as this can help you secure your first property. There is also a large amount of paperwork involved which will be handled by your Choice consultant
Buying another property
If you’re looking to upgrade your property, you may also benefit from the services of a mortgage broker. A Choice consultant can help you navigate the property market to ensure you find the right deal, as well as finding the best loan for the property you buy. You may also need to consider other types of loans, such as construction loans, financing for renovations, or you may need advice on paying off your current loan.
Investment loans
Buying an investment property comes with many regulatory strings attached, as well as financial and tax concerns. But to start with, you want to make sure you get the right loan for your property. You might need an interest-only loan so you can better manage your cash flow in the initial investment stages, or perhaps a fixed rate might suit your investment strategy better. Choice consultants are able to offer you advice on the current climate in the property market so you can make a better informed investment decision, and you can find a loan that will work with, and not against, your investment.
Refinancing
If you’ve been with your lender for a while and are wondering whether you can get a better deal, it might be worth talking to a mortgage broker. A Choice consultant will be able to review your current loan, your finances, and your financial goals, and then find a loan that will support your situation and needs.
Ask an Expert
Hi.there can I get a home loan if I am on centerlink benefit
Hi Raylene,
Thanks for your enquiry.
Some lenders do allow you to qualify for a home loan even if you’re receiving a Centrelink benefit, however most lenders require that you have a secondary source of income to ensure that you can comfortably service the loan.
On this page you can view the table to see whether your Centrelink benefit is accepted by Australian lenders, however generally the lender will assess your income, debts and any other liabilities to determine whether or not you can meet the mortgage repayments.
You may also want to enquire with one of the mortgage brokers listed on the above linked page as they can draw on their panel of lenders to find a bank that’s more likely to review your application.
All the best,
Belinda
Appointment time and date for first home buyer loan?
Hi Govinda,
thanks for the question.
You can organise a time and date for a first home buyer loan by filling out the form on this page. This will put you into contact with a local Choice mortgage broker.
I hope this helps,
Marc.
I am looking to purchase a property to rent out. I am in weet a seperation and have just sold my house. The money is put away and waiting to be split. I am waiting for centre link benefits. I would like to borrow for a deposit on property.
Hi Maria,
Thanks for your enquiry.
You might to compare a range of investment home loans on this page where you can fill out the form to speak with a mortgage broker regarding your borrowing options.
You can also learn more about qualifying for a home loan when receiving Centrelink benefits here.
Depending on the amount and type of benefit you receive, the lender will assess your income, assets and any other debts in your name to determine whether or not you can meet your mortgage repayments.
Please be mindful that if you don’t have a secondary source of income, most lenders may be conservative about enabling you to borrow funds for an investment property.
Thanks,
Belinda
Hi – I am interested in a home equity release loan or something of a similar nature – I have a current mortgage of approx. 63,000 remaining – I want extra funds, so I can continue with my renovations, of approx. 20,000 – 30,000 – I am a pensioner with a pension of 23,640 p/y – if you think you can assist in this matter I would appreciate any assistance -regards DJ
Hi DJ,
Thanks for your enquiry.
You can compare a range of reverse mortgage/equity release loans on this page and you can fill out a form to speak with a mortgage broker to discuss your options.
The amount you can borrow for these types of loans is generally around 15-45% of the value of the property, although this will also depend on the age of the youngest borrower.
Thanks,
Belinda
I’m on disability pension with an assets worth $520,000. I have no mortgage. I would like to borrow $80,000 to upgrade. Is this possible
Hi Julie,
thanks for the question.
You can talk to Choice Home Loans directly about your situation by filling in the form on this page. They will be able to suggest products suitable to your circumstances.
I hope this helps,
Marc.
I have recently moved to Australia and doing my casual job for last 2 months. My average weekly gross salary has been 1400$ . can I get a home loan.
Hi Bob,
Thanks for your enquiry.
Lenders will have different eligibility criteria that you’ll need to satisfy in order to qualify for their home loan products, but ultimately a lender will review your income, assets and any existing debts that you may have to determine your ability to service the mortgage.
You can compare a range of competitive home loans on this page and if you’d like to apply for one you can click the ‘enquire now’ button to be redirected to the lender’s website where you can complete the application online.
On this page, you can read more about home loans suited for casual workers and enquire with a mortgage broker to help you find a lender that’s likely to review your application.
Thanks,
Belinda
I am a pensioner and I have a part time managers job which includes my free accommodation and allowance for food and a small wage. I own a studio apartment and have the deeds to the property. AS I have free accommodation I have decided to rent out at my unit. I have an investment property in Tasmania that is on the market which I receive rental income and have a mortgage payment. I own my own Car and all my own furniture. I do have a credit card. I also have a fixed term deposit and savings in the bank
Hi Verna,
Thank you for contacting finder.com.au, a financial comparison website.
If you would like to talk to a Choice mortgage broker fill out the above form on this page and they will contact you.
Alternatively you can visit our page on home loan refinance and debt consolidation to do a comparison on some of your options.
Regards
Jodie
Hi, I’m pensioner with some savings money .I want to know if I’m able to get a home loans, we are 3 as family, my wife and my daughter, are not working at this moment but they going to be very soon. Could you please give me some advice, ok ?
Hi Hector,
Thanks for your question.
Centrelink recipients still have a variety of choice when selecting home loan products in the Australian market.
Your eligibility for a home loan will depend on your benefit type, the amount of income you receive, and how much of this will be used to repay the loan.
It is recommended that you get in contact with a broker to discuss their credit criteria to see whether you would be eligible for a home loan.
Alternatively, you can make an enquiry with Choice Home Loans on this page.
You may also be interested to find out what type of loans you could apply for while receiving your pension.
I hope you find this useful.
Thanks,
Belinda
As a pensioner I wish to get a home loan to assist me to move to a home that will cost me less with the same if not a smaller mortgage to my exiting home loan.
Is That Possible?
Hi Peter,
Thanks for your question.
The best person to speak to regarding this is probably a mortgage broker. They will be able to assess your current home loan, and let you know if you’re eligible for cheaper home loan.
All the best,
Shirley