Work with the Best Mortgage Brokers near you
Get free and no-obligation quotes from the top-rated Mortgage Brokers.
Get free and no-obligation quotes from the top-rated Mortgage Brokers.
What is a Mortgage Broker?
You’ll chance upon the need for a mortgage broker once you start planning homeownership. They act as intermediaries who brokers mortgage loans on behalf of individuals or businesses. Essentially, a mortgage broker will serve as a middleman between borrowers and lenders.
Mortgage brokers understand the borrower's financial situation, needs, and preferences, then match them with suitable mortgage products offered by various lenders.
Mortgage brokers asses and evaluates the borrower's financial status to determine their borrowing capacity.
They have access to various mortgage products from lenders, including banks, credit unions, and other financial institutions.
They assist the borrower when they’re gathering all necessary documents required for the mortgage application.
Brokers negotiate with lenders on behalf of the borrower to secure the most favorable terms and the best interest rates possible.
They ensure that borrowers understand all the legal aspects and obligations associated with the mortgage agreement.
Even after the mortgage has been approved and finalized, brokers often provide ongoing support to borrowers.
Mortgage brokers are required to follow strict regulatory guidelines and ethical standards to protect the interests of borrowers.
Mortgage brokers provide personalized advice on types of mortgage products, interest rates, and repayment options.
What's the cost of a mortgage broker in Melbourne?
Mortgage brokers don’t get paid a fee. Instead, they get a commission, which they must always reveal to you throughout the process. Although rates change among lenders, the typical upfront commission is between 0.65% and 0.70% of the loan amount, plus GST. In certain instances, the commission may be as low as 0.35% of the total loan size. These fees are paid by the lender, not the borrower.
Using EasyHome can help you control your mortgage costs. You also avoid the unforeseen costs that come with hiring the wrong person or not comparing quotes. Start comparing quotes and find the best fit.
Take two to three minutes to tell us about your upcoming home purchase. We’ll ask a few details like what you plan to move, where you want to move, where you’re moving from, and when you plan to move.
After around 24 hours or less, we’ll email you the best options and their quotations. You can check them out and compare. You’ll have 3 business days to choose a quote before they expire.
You can select your quote based on the feedback, reviews, availability, and quoted price. Get them to fulfill the service and give us your feedback on the experience to help the community.
Finding the right mortgage broker isn’t as straightforward given the varying commission rates, service quality, professionalism, and customer feedback. Here's how you can apply similar best practices to find a top-notch mortgage broker:
EasyHome simplifies the process of comparing and selecting mortgage brokers. Discover how.
Our team of homebuying experts has handpicked the best vetted providers for all your needs.
Say goodbye to overwhelm—we guide you through the homebuying journey with a streamlined plan.
We're more than just a platform; we're your concierge dedicated to ensuring a smooth, successful experience.
Answer a few questions and we’ll help you with the next steps. You’ll have everything you need to move into your new home or start investing in property in no time!
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