Purchasing your dream home is one of the biggest and most important decisions you will ever take. It can be both exciting yet nerve wrecking when you have so many home loan options in the market. The Singh Group will calm your nerves whilst arming you with the right information from start to end. If you are after the best home loans in Melbourne Australia, The Singh group is the right destination for you.
Why should you opt for a mortgage broker?
There are many home loan brokers in Melbourne so it can be confusing to choose one. At the Singh group we have a team of experienced mortgage brokers who will look around and choose the best home loan for your individual needs. It doesn’t matter whether you are new to the property market or have a portfolio of investments, we will help you all the way through. We make sure the process is as simple as possible.
What to expect at the meeting?
During your first meeting with us, we will go through everything from your financial circumstances to future goals to determine what’s crucial for your home loan. Whatever you have in mind, we will do comprehensive research and endorse the right product for your needs.
The different types of loans:
- Standard Variable – Most popular loan in the country. The interest rate changes as the official rate is decided by the Reserve bank of Australia.
- Fixed loan – In this type of loan, the repayments remain the same irrespective of the change in the interest rate.
- Split loan – Here the loan is split into variable and fixed and the borrower gets to decide on the ratio of fixed and variable.
- Low doc – This is a popular option for those who are self-employed. These loans require less documentation but have higher interest rates and need larger deposits.
- Line of credit – For this type of loan, you can pay into and withdraw from your home loan every month, provided you are up to date with regular payments.
- Introductory – This loan has a low discounted interest rate for the first few months up to a year before the rate goes back to the normal variable interest rate.