Who we assist:
- First home buyers
- Couples and families
- Mature adults looking to plan for retirement
- Business owners
- Property investors
- Professionals
What does a mortgage broker do?
Determine your needs
A mortgage broker will spend time identifying what you need from a home loan product.
Determine your borrowing power
Your mortgage broker will calculate your borrowing power so that you know how much you can afford to realistically borrow and can give you a clearer understanding of the price range that you can afford.
Help you choose from dozens of lenders
Your broker will help you compare products from dozens of lenders. We do this to make sure that we find a product that best suits your needs, delivers the best result and the greatest cost savings to you.
Arrange pre approval
Home buyers can benefit from getting a home loan pre-approval. A pre-approval is a lender’s written assessment of your creditworthiness for a loan. This will help you gain confidence when bidding at auctions and quickens the settlement process as the loan is part way approved.
Save money
We will help you chose the right loan product, saving you money in the long run.
Provide convenient, professional advice at no cost to you
Your mortgage broker can take the stress out of the loan application process. We will take care of the entire process for you. We do this at no cost to you because as a broker we receive our fee from the lender, so the only thing that matters to us it that you get a home loan that is right for you.
Nicholas Kakalis is a representative of Finance Unlimited Pty Ltd (ABN 73 005 674 500) Australian Credit License No 391433 for the provision of mortgage and credit related services.
Click here for the ACL Credit Guide.
Types of loans
With so many different home loans to choose from, selecting one that is right for you can be a challenge. We take the time to go through your personal circumstances and financial position and then advise which product or products best fit your circumstances.
At Finance Unlimited we have dozens of lenders to choose from including the 4 big banks.
Before you meet with us you might want to get familiar with some of the more common types of loans that are available:
What type of loan may be right for you?
Line of credit
Line of credit
A line of credit loan provides the flexibility to draw down the loan at your own pace and pay off as much as you would like, however you can still draw down on it up to the initial limit. If you're looking for a loan that gives you considerable flexibility with your repayments and the ability to draw down additional funds, this may be the right loan for you. Each month, borrowers can pay as little or as much as they want towards the principal – however they must meet their interest repayments.
As a line of credit borrower, your loan is usually linked with a credit card with an interest-free period. This allows borrowers to access funds if and when they need.
Advantages:
- Highly flexible, repayments are more flexible allowing the borrower to pay as little or as much towards the principal as they choose, within the limit.
- Linked a credit card with an interest free period. Within the limit.
Disadvantages:
- Need to be very disciplined or you may end up extending the term of your loan
- Need to stay on top of credit card debt when interest free period ends.
Lo-doc loans
Lo-doc loans
Lo-doc loans are ideal for people who are self employed. They provide finance for borrowers unable to provide the documentation usually needed.
Some lenders will require borrowers to take out lender's mortgage insurance (LMI) for loans valued over 80 per cent of the property's value, but lo doc borrowers may be required to take out LMI for loans exceeding 60 per cent of the property's value.
Advantages:
- Less documentation needed for approval
Disadvantages:
- You still need a significant amount of documentation to get them approved.
- Higher interest rates generally apply.
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