Question 1

How much deposit do I need for a home loan with North Brisbane Mortgage Brokers?

Accepted Answer

Most lenders prefer a 20% deposit, but you can buy a home with a 5-19% deposit. Keep in mind that this usually incurs a Lenders Mortgage Insurance (LMI) fee, which decreases as your deposit approaches 20%. However, the First Home Guarantee Scheme allows eligible buyers to purchase with as little as 5% deposit without paying LMI. For personalized advice, contact us to explore your options.

Question 2

Does a mortgage broker, such as North Brisbane Mortgage Brokers, cost money?

Accepted Answer

We offer our services free of charge, as we're paid a commission by the lender. The commission amount varies based on the bank we work with. In some cases, such as when dealing with more complex situations like purchasing commercial property within a business entity, we may charge a fee.

Question 3

How much can I borrow for my first home with North Brisbane Mortgage Brokers?

Accepted Answer

We assess your income, expenses, and credit history to estimate your borrowing capacity. Generally, lenders offer 80-95% of the property value, but with government schemes, you might need less.

It comes down to your income and liabilities for us to provide a good answer in regards to your borrowing capcity.

Question 4

What government grants or schemes am I eligible for as a first-time buyer with North Brisbane Mortgage Brokers?

Accepted Answer

You may qualify for the First Home Owners Grant, First Home Guarantee Scheme, First Home Super Saver Scheme or First Home Concession. As local mortgage brokers, we'll guide you through the eligibility criteria.

Question 5

What documents do I need to apply for a home loan with North Brisbane Mortgage Brokers?

Accepted Answer

You'll need ID, proof of income (payslips, tax returns), bank statements, and details of current debts. We'll help you gather everything.

We may also need to show the lender 'Genuine Savings', this could be savings or alternatively a Tenancy Agreement.

Question 6

What is the difference between fixed and variable interest rates with North Brisbane Mortgage Brokers?

Accepted Answer

Fixed rates offer stability, while variable rates can fluctuate with the market. We'll discuss which suits your budget and goals.

Question 7

How do I get pre-approved for a home loan with North Brisbane Mortgage Brokers?

Accepted Answer

We'll review your finances, submit your application to the lender, and get a pre-approval, giving you confidence to house hunt.

North Brisbane Mortgage Brokers

Services

Reviews

Location

Amenities

Ways to Pay

Frequently Asked Questions

How much deposit do I need for a home loan with North Brisbane Mortgage Brokers?

Does a mortgage broker, such as North Brisbane Mortgage Brokers, cost money?

Browse Mortgage Brokers by Suburb Near Windsor

Top Services Offered for Mortgage Brokers in Windsor

Top Products Offered for Mortgage Brokers in Windsor

Common Questions for Mortgage Brokers

What does a mortgage broker do?

How are mortgage brokers paid?

Can mortgage brokers get me a better deal?