Here at Davies Home Loans, we provide home loan solutions to people from all areas on the Gold Coast and Northern Rivers. Whilst we are located here, we can do loans anywhere in Australia. Our home loan brokers work for you, not the banks that’s why we take the time to get to know you personally to understand your unique circumstances.
Whether you’re a first home buyer, refinancing your home, buying a second property or investing in property our experienced mortgage brokers can help you through the whole loans process. We know which lenders will have the right product that will meet your needs. And we negotiate for what’s right for you,
40+ Lenders to choose from
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Tweed Heads Mortgage Brokers
What is a pre-approval home loan?
Once you’ve used a borrowing power calculator to determine a rough idea of how much you can borrow, It’s time to make an appointment with us to have your finance pre-approved. Pre-approval is when your loan is conditionally approved before you have found a property you wish to buy.
Home loan pre-approval is an option that helps avoids surprises and confirms your budget for you to go house hunting. This way you know exactly how much you have to spend and ensure you are treated as a serious buyer by agents. Pre-approval is generally recommended when going to auction on a property. As a word of caution, do not tell a seller’s agent, your pre-approved limit.
Home Equity Loan
If you’ve had your home loan for a while now chances are you have built up equity in your home. This equity can then be used as security for a new home loan in order to buy a second property or an investment property. By refinancing your home you can access the equity to use for a range of different reasons like renovations, debt consolidation, for a car and more.
Above are Lenders and support businesses available to us, specific accreditations are provided as part of our loan process
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Know the different types home loan rates
It’s no surprise that when looking for a home loan you’re going to be searching for the lowest interest rate possible. However there are a few things to take into consideration when deciding on a rate, like whether you go with a variable interest rate or a fixed rate.
Using a mortgage broker to help you find your home loan is advantageous when it comes to finding a competitive rate. While both variable & fixed rate loans have their advantages and disadvantages our experienced team can provide you with all the information needed to help you make the decision as to which option will suit your individual needs.
Variable Home Loan
Variable home loan interest rates fluctuate over time. Choosing a variable interest rate allows you to take advantage of lowering interest rates, however with this the rate could do the opposite and increase during the loan term.
Fixed Rate Home Loan
Fixed-rate home loans offer a locked in rate for a certain amount of time. For example you may choose to lock your rate in for 3 years where the interest rate will not change no matter if the interest rates increase. The disadvantage to this is that when interest rates decrease you are still locked in at your fixed rate.
Split Rate Home Loan
A split home loan offers you the best of both worlds by having part of your loan locked into a fixed rate while the rest is on a variable rate. This allows you to take advantage of a fixed rate while still being able to utilise any drops in the interest rates with your variable portion. These home loans can be split by amounts of your choosing which offers great flexibility when getting a new loan.
Steps to getting a loan for a house
Research the market
You will no doubt do your home loan research, but more important is that you do your homework and research on the area you are buying into by browsing newspaper and internet property listings and speaking to local real estate agents.
Determine your Borrowing Power
Once you have an idea of the property market, you need to know what home loan you can afford to spend and repay. Your borrowing power is determined by your income and financial commitments, as well as your current savings and credit history.
Our home loan brokers can help you determine your borrowing power along with any additional costs associated with taking out a mortgage.
Get your Home loan Tick of Approval
Now you know how much you can borrow for your home loan, make an appointment with us to have your finance pre-approved. While you don’t have to apply before you have found a property, a home loan pre-approval is recommended because it avoids any surprises and confirms your budget to go house hunting.
Make an offer on your property
Once you’ve found your dream property you can make an offer, the vendor may accept it straight away or negotiate on the price or other aspects of the sale. If you cannot agree on a price, you can withdraw your offer. If you buy a home at auction, you are required to pay a deposit usually 10% of the purchase price, immediately, if you buy privately, you are usually required to pay a holding deposit and then pay the 10% deposit when you exchange contracts.
Start the formal loan Paperwork
Contact us with the details of the property you want to buy so we can get the ball rolling on obtaining formal home loan approval. As part of this process the lender may organise an independent valuation of the property, to make sure the amount you’re offering for it is reasonable. You will need to provide us with a range of documentation.
Around this time the seller will make the Contract of Sale available to your solicitor or conveyance for review. The contract is a legal document that outlines your offer, the date of settlement, and any conditions that must be met before the sale goes ahead.
Once the loan is formally approved, there is further paperwork (the actual loan contracts) and a procedure to make the funds available for your conveyancer to control at settlement.
Once your loan is all approved there are a number of steps which include Arranging inspections, organising insurance, the exchange of contracts with a cooling off period and finally payment and settlement on the property.
Specialist Home Loan Brokers
Our team here at Davies Home Loans are here to help you finance the home of your dreams and to get the most from your home loan. As brokers, we have access to a wide variety of lenders which you might otherwise not consider if you just went to your bank. Having this flexibility in lenders gives you so many more options when making your decision, not to mention that lenders offer exclusive deals to mortgage brokers that the general public cannot find.
Get in touch or give us a call today and get started making you dreams a reality with the help of one of our specialist Davies Home Loan brokers.
When looking to get into the property market or refinancing your home the first step is to determine how much you can borrow. Our Financial Calculators allow you to get an estimate of your borrowing power, compare loans, and calculate your potential repayments.
Borrowing Power Calculator
Determine how much you could borrow based on your income, expenses and other debt.
Loan Comparison Calculator
Enter both your current loan and the new loan amounts, interest rates & fees to compare which loan will suit you.
Loan Repayment Calculator
Calculate your monthly, fortnightly or weekly payments required to pay your loan.