Choosing the right home loan
With so many home loans available, finding the best one to suit your budget, lifestyle and future plans is not an easy task. While differentiating between some of the larger lenders may appear to be straight forward, what about the lenders who offer significant savings but maybe difficult to find?This is where Mortgage Choice can help, particularly when the banks and non-bank lenders are very different in their approach to lending. By working with more than 20 lenders, Mortgage Choice can save you time and take the hassle out of shopping around.
Here is an example of the difference between lenders who are considering a couple purchasing a new home, who have a deposit of $45,000 and a joint income of $57,000.
Across the Mortgage Choice panel of lenders, the amount the couple would be able to borrow ranges from $268,745 to $392,743.
As you can see, the range offered is quite substantial. This is because each lender has different lending criteria — just because you fall outside of one Lender's criteria doesn't mean another won't be happy to have your business.
Back to loan tips
