Home Loans Sunshine Coast

Do you want to get cash out? or looking for home loans Sunshine Coast at a low rate? finding who is the best lender to get home loan solutions? 

With so many questions it is easy to see why so many borrowers, first and experienced, find themselves in a state of confusion over home loans Sunshine Coast.

When looking for a good deal on a home loan (mortgage), the interest rate matters. Sunshine cash loans are a long-term debt, so even a small difference in interest adds up over time.

Our Sunshine Coast loans clear the way for a simple and informed decision on the best home loan for you. We have a quick and easy step-by-step approach that takes the hassle out of the lending process.

Below is a quick home loans list of some of the home loan Sunshine Coast types on offer:

• Fixed Interest loans
• Variable Interest loans
• Line of credit loans
• Interest Only loans
• Low doc home loan / Light doc loans

Each Sunshine Home Loan has a different benefit and knowing the right fit for you is important. However, once you do decide on the right type of loan it is then time to compare the different lender products.

No deposit home loans Sunshine Coast: can I get one?

Have you ever wondered if there were Sunshine loans for house purchase that require no upfront commitment from the buyer? Ever thought about wanting to talk to “mortgage brokers near me” to confirm?

The short answer is yes, no deposit home loans exist! Below are the best options available in the market today.

1. No deposit home loans with guarantor

This type of loan allows you to skip paying the Lenders Mortgage Insurance (LMI) as lenders won’t consider you high risk since you have a guarantor (usually your parents) to provide security for your deposit. 

Best features:

• Lets you borrow up to 105% of the purchase price 
• covers stamp duty and other costs
• has lower interest rates.

2. No deposit loans for first home buyers

If you’re a first home buyer with not enough personal funds, you can take advantage of the following government initiatives to jumpstart your home buyer’s journey:

• First Home Loan Deposit Scheme (you will stay have to pay 5% deposit but you will be exempt from paying LMI)
• First Home Owner Grant (you will have to allow for other upfront costs, i.e., legal fees, moving expenses, etc)

These nationwide programs have specific eligibility requirements that you may want help with from a lending expert. Best to set up an appointment with a home loan broker Sunshine Coast and see how we can assist.

3. Monetary gift as deposit

You can use inheritance, lottery winnings, and other forms of non-refundable monetary gifts as your deposit. 

Some lenders may accept this type of deposit (funds you didn’t save up yourself) as long as you can prove with proper documentation that you’re not expected to pay the money back.

4. Using super as deposit

You can use your superannuation funds to borrow up to 80% of the purchase price of a house you’re buying for investment purposes only.

You won’t have to save up as your superannuation will serve as your deposit. The caveat is that you cannot purchase your property in your own name and it can only be for investment purposes.

5. Using equity as your deposit

There are lenders who accept home equity as a deposit. If you already own a house and have built enough equity in it, then you can use it as your home loan without deposit option.

You can use your home equity for refinancing. Lenders sometimes offer a cash rebate for equity deposits too.

If you have the necessary conditions to take advantage of these government grants, let the best mortgage broker Sunshine Coast assist you with sorting your paperwork and finding a lender with the right home loan option for you.

Bank vs broker for mortgage: which one is better for you?

A mortgage lender is a non-bank specialised lender that caters for special needs and circumstances. They are direct lenders, like banks, however they do not offer other financial services like credit cards or savings accounts. This type of lender typically offers home purchase and refinance loans.

A bank is a direct lender and is a financial institution that originates, processes and funds loans themselves. Banks these days offer a range of products and services including everyday transaction accounts, savings accounts, personal loans, business accounts and loans, debit and credit cards.

A mortgage broker is an accredited professional that works for the customer to find them the best deal. The best home loan brokers source the best loan for you from banks and other financial institutions. They do not work for a bank and they generally do not charge the customer a fee for service.

Is it easier to get a home loan Sunshine Coast with your own bank?

For those refinancing with their existing bank that definitely has the best deal out there, the process can be fairly straightforward to get a mortgage with your own bank.

But for a first-time home buyer, you will have to go through the same process as with any lender to get a mortgage from your bank. They will have your banking records but not much else needed for your application.

To compare your current mortgage offer with others, you’ll need to research the market, find out what other lenders have available, and then approach them for their products and best deals. The downside to doing this through your bank is that they won’t tell you about other options from other lenders, so you may miss out on better deals elsewhere.

Should I use a mortgage broker near me?

Short answer: absolutely yes. But keep reading to know exactly why.

Mortgage brokers work with various lenders and have access to a wide array of financial products. They also have access to the most current rates and products available on the market today. 

Because of this, they can provide impartial advice to help consumers make informed decisions about mortgages. They also have enough technical know-how to break down all the “loan language” so you know exactly what you are comparing when shopping for home loan solutions. 

Best of all, a mortgage broker can take the stress out of finding your finance so you can focus on finding the property of your dreams at the right price. 

Your Sunshine Coast mortgage brokers will negotiate with and liaise with lenders on your behalf and keep you informed every step of the way — and there’s a sure-fire way to make sure it stays this way.

How? There is what we call the Best Interests Duty Legislation, a government mandate that requires mortgage brokers to work in the best interests of the customer. 

What is the Best Interest Duty Mortgage Brokers?

The Best Interests Duty is a statutory obligation for mortgage brokers Sunshine Coast like us to work in the best interests of consumers (that’s you) and to prioritise your interests when providing you with credit assistance (this comes under our conflict policy rule).

It was put in place to ensure that the consumer’s expectations and interests are aligned with the interest of the mortgage broker helping you with your home loan Sunshine Coast finance.

These guidelines set by the Best Interests Duty legislation mean we take the time to understand your personal circumstances, your finances and your ability to repay a home loan as well as your lifestyle goals. We then match you with a lender and home loan product that ticks all the right boxes for your situation. 

Being one of the top mortgage brokers Sunshine Coast, you can rest assured that your home loan is working for you into the future. We help you understand if you still have the best interest rate and negotiate with your current or new lender to offer you a better loan deal.

What does the Best Interests Duty mean for you as a customer?

All qualified mortgage brokers operate under this best interest duty. However, most people do not know that the best interests duty does not apply to banks. 

There is no legal requirement for a bank to work in your best interest when you approach them directly. They don’t have to legally assess your circumstances and ensure they are giving you the best option for you. They certainly don’t have to tell you if another lender would be better for you.

As trusted home loan brokers Sunshine Coast, we are legally bound to assess your finances and act in your best interests when we recommend a home loan solution to you. We have a large panel of lenders available in order to make this match happen for you.

Looking to secure the best value Sun shine loans? Work with the leading Sunshine Coast mortgage brokers?

For a quick assessment on the best type of sunshine home loans or just ask the Home Loan Sunshine Coast team. Home to the best mortgage brokers Sunshine Coast has to offer, we examine your current and future intentions, whether personal, company or investment, as part of getting you the best financing possible.

Chris Wilson lending Specialist, our Sunshine Coast mortgage broker, first listens to all of your needs before offering you financing choices. We then take into account your preferred level of risk, as well as your future earnings and professional goals.

All of these considerations are critical in securing a loan that not only allows you to acquire this home, but also allows you to meet your financial obligations in the future without incurring additional fees, expenditures, or restrictions.

You can also chat with a Sunshine Coast mortgage broker for help with your home buying, investing, or refinancing needs. Fill in your details in the Sunshine loan contact form to get started, or click the button below.