Choosing a Home Loan in the Australian Mortgage Market

With over 3,000 mortgage loans available in the Australian market, how do you go about finding the right one for you and your family? Do you go to lenders we've all been conditioned to go to such as banks, building societies and credit unions, or do you go to Mortgage Brokers?

Brokers
The advantage of a mortgage broker is the fact that they can guide you through the mass of home loan options available on the market. Mortgage brokers tend to only offer home loans from specific lenders, rather than all of them, so you should still look into who they deal with in terms of banks, building societys, and credit unions. So how do you go about choosing a mortgage broker? Mortgage brokers either charge you a fee for there services or reciece a commision from the lender. Have a look at the amount of lenders the broker deals with and who they are. Is there any change in the commission between the lenders. Do the rates change depending upon the level of business. Remember don't be affraid to ask, do your research, talk to friends and family until you feel comfortable with the options the broker has to offer.

Important Home Loan information and Links

Step by step mortgage guide. All the how tos of getting a mortgage at moneymanager have a look at moneymanager.smh.com.au/property/guides/mortgage_guide.html

For a good Australian mortgage broker site go to Refund Home Loans. They Have information on Buying a House in Australia, Property Investment Australia, Australian Mortgage Option, and everything you need to know about getting a home loan australia. Also for usefull tools have a look at the Mortgage Calculator Australia.

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