Work with the Best Mortgage Brokers in Altona

A mortgage broker is a financial advisers who help lenders and homebuyers find the most appropriate loan for a home or property purchase. Their goal is to find the loan with the best interest rates, terms, and policies. They act as intermediaries between borrowers and lenders (often banks, credit unions, and so on).

Yes, there’s a high demand for qualified mortgage brokers. In October 2022, more than 70% of Australian home loans went through a mortgage broker.

Yes. There’s a reason why 70% of Australians work with a mortgage broker. They help you with all the complexities of mortgage agreements and terms. They also help you with your application and even get you better deals on fees. Moreover, their services are free for borrowers.

Mortgage brokers get a commission on the total loan amount. They get 1 to 2% of the total loan. So, if your loan is $250,000, the broker will get $2,500 to $5,000 in commission. Typically, the lender pays the commission, which is worked into the loan amount. The borrower can also pay the commission, after which, you can roll the fees into the loan amount.

A mortgage broker is a licenced firm or individual who employs mortgage agents. A mortgage agent works on behalf of the firm or individual with the broker’s licence.