In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Credit Proposal Document or Quote
Mortgage brokers prepare a document called a Quote or Credit Proposal Document to give to potential homebuyers looking to purchase a home loan. It will typically include details about the loan product, loan term the interest rate, any fees charged and estimated monthly repayments.
A mortgage broker will gather information about the borrower’s current credit history and financial circumstances which will help them to present a comparison of appropriate mortgage options from various lenders. The borrower is to carefully review the quote’s terms and conditions and is required to sign it before committing to a mortgage.
Your mortgage broker will normally prepare 3 of the most suitable lenders based your financial circumstances. In some cases, there may only be 1 or 2 lenders offered if you have a more complex financial situation where you don’t fit into the different lenders policies.
Learn MoreNo! Compared to credit cards, personal loans or car loans, having one or even two pre-approval enquiries on your credit file within 12 or even 6 months won't affect your credit score too much.
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