When looking around for a Home Loan, it can sometimes be difficult at the best of times. Having to supply a lot of paperwork and information when applying can both be confusing and tedious. If you’re a business owner or self-employed, many lenders and banks will want even more information from you, including tax records dating many years before.
This puts a lot of self-employed people off from attempting to apply for a home loan as it is deemed just “too hard”. However, there are loans known as “low doc” loans. These loans can help those who are self-employed to obtain a home loan without the hassle of providing extensive amounts of paperwork to be approved. You may not have access to the tax returns and financial statements the lender requires to approve you, which is where a low doc loan comes in handy.
A mortgage broker can help quite a lot when it comes to needing a low doc loan, as they will know which banks and lenders are available to provide such a loan. They can help you to go through the application process and find a lender that will assist you with your finance needs.
If you’re looking for a low doc mortgage broker in the Gold Coast area, check out the great team at Go Mortgage at https://www.gomc.com.au or by calling 1300 855 244
You may be just starting out looking for a home loan and things may be starting to get a little complicated. Home loan shopping can be quite confusing, especially when there are plenty of different loans on the market, fees and charges and types of loans. One of the easiest ways to get past all of the home loan jargon is by getting the assistance from a mortgage broker.
Essentially, a mortgage broker will do all the legwork for you. They can assess what your needs are and do the “shopping” for you. They will go through different lenders and banks to see if they have a product that suits you. They can then go through any questions you have and be your main point of contact when it comes to anything to do with your new home loan and the application process.
You won’t have to pay the mortgage broker directly, either. A fee is paid directly to them by you, the applicant. Instead the mortgage broker will receive a commision from the lender after the mortgage is processed and settled. This makes it an appealing option, especially if you feel a little overwhelmed by the banks and lenders and all of their requirements for a loan.
As well as helping with your first home purchase, a mortgage broker can also help you with any future purchases. You may decide to buy a second home or even an investment one day. As you would already have a working relationship with the lender, they’ll know your circumstances and will be able assist you with other loan requirements.
If you’re looking for a way to reduce the headache when applying for a home loan, you may be best to consider the help of an experienced mortgage broker. If you would like more information about what a mortgage broker can do for you, contact Go Mortage on 1300 855 244.