When answering the questions, think ahead, not just to next year but also to 5 or even 10 years down the track.
- Do I want to pay the loan off as quickly as possible or am I happy to see out the term of the loan?
- Am I good at sticking to a budget or am I a spendthrift?
- Do I want certainty in the amount of my loan repayments or am I happy for them to move with interest rate changes?
- Am I likely to want to draw back some of my repayments in the future for spending on holidays, cars, furniture?
- If I’m planning to have children, how will this affect my or my partner’s work situation?
- How secure is my employment or work situation?
- For existing children, have I budgeted for school fees and other expenses that are likely to come up in the future?
- Am I likely to receive some form of cash windfall or bonus at any stage?
Knowing the answers to these questions can focus you on the home loans that will suit your needs. See your Home Loans Melbourne broker today to compare hundreds of loan options and understand what makes a particular home loan right for you.
At your first meeting, your local Home Loans Melbourne broker will find out as much as possible about your circumstances and goals, to see how we can support you.
Your broker will then compare hundreds of home loans from up to 28 lenders – including the big four banks – to find the right home loan for your needs.
They’ll take a range of factors into consideration, including monthly repayments, interest rates, features such as redraw facilities, and how much you can borrow from each lender. Your broker performs a detailed analysis that goes beyond the simple headline of interest rates to explore the finer points that can make a real difference to your bottom line.