Mortgage Broker in Armadale

Common Questions About Our Mortgage Broker Services in Armadale

What services does a Mortgage Broker in Armadale, VIC 3143 provide?

As a professional Finance & Mortgage Broker, AXTON Finance offers comprehensive services including home loans for first home buyers and upgraders, investment loans for property investors, and refinancing solutions for existing borrowers. We help clients access loan options from banks and lenders across Australia, ensuring you can compare interest rates, loan features, and terms to find the most suitable product. Our services also include loan pre-approval, application processing, and ongoing support throughout the settlement process. To understand exactly how our Mortgage Broker in Armadale, VIC 3143 services can benefit your specific situation, we recommend booking a Free Consultation with our experienced team.

How can a Mortgage Broker help me access better interest rates?

Working with AXTON Finance as your Mortgage Broker in Armadale, VIC 3143 provides access to wholesale rates and special deals that aren't always available to the general public. We maintain relationships with numerous lenders, allowing us to negotiate on your behalf and potentially secure interest rate discounts based on your financial situation and loan requirements. Our team also conducts regular home loan health checks to ensure existing clients continue receiving competitive rates. The specific interest rate you can access depends on various factors including your borrowing capacity, loan to value ratio (LVR), and the current market conditions. For personalised advice about accessing some of the best interest rates available, book a Free Consultation to discuss your requirements.

What's the difference between fixed and variable interest rate loans?

Variable interest rate loans have rates that can change over time based on market conditions and lender policies, while fixed interest rate loans maintain the same rate for a predetermined period, typically one to five years. Each option has distinct advantages depending on your financial goals and risk tolerance. Variable rates may offer more flexibility with features like offset accounts and the ability to make additional repayments, while fixed rates provide certainty for budgeting purposes. As your Finance & Mortgage Broker in Armadale, VIC 3143, AXTON Finance can explain how each option aligns with your circumstances and help you understand the implications of both choices. To explore which loan type best suits your needs, we recommend scheduling a Free Consultation with our team.

How do I know if I need Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is typically required when your loan to value ratio (LVR) exceeds 80%, meaning your deposit or equity is less than 20% of the property's value. However, there are exceptions and alternatives that an experienced Mortgage Broker in Armadale, VIC 3143 can help you explore. Some lenders offer LMI waivers for certain professions, while others may accept guarantor arrangements to avoid this cost. Additionally, some Government Grants and Incentives available to first home buyers can help reduce the LMI burden. The specific LMI requirements vary between lenders and loan products, which is why working with AXTON Finance ensures you understand all available options. Book a Free Consultation to discuss your deposit situation and explore strategies to minimise or avoid LMI costs.

Can you help with investment property loans in Armadale?

Absolutely, AXTON Finance specialises in investment loans and understands the unique requirements of property investors in the Armadale area. Investment loans often have different criteria compared to home loans, including varying interest rates, deposit requirements, and assessment methods. We can help you explore options such as interest only loans versus principal and interest loans, depending on your investment strategy and tax considerations. Our knowledge of the local property market in Armadale ensures we can provide relevant advice about loan products that suit investment properties in the area. As your Mortgage Broker in Armadale, VIC 3143, we'll assess your complete financial situation to maximise your borrowing capacity for investment purposes. To discuss your investment property financing needs, book a Free Consultation with our experienced team.

What's involved in the loan application process?

Our streamlined application process begins with understanding your financial situation, goals, and preferences during an initial consultation. We then assess your borrowing capacity, help you get pre-approved if desired, and present suitable loan options from our panel of lenders. Once you choose a loan product, we handle the application process, liaise with lenders on your behalf, and keep you informed throughout. The process typically involves providing documentation about your income, expenses, assets, and the property you're purchasing or refinancing. As the best Mortgage Broker team in the area, AXTON Finance ensures the application process is as smooth as possible while keeping you fully informed at every stage. The exact timeline and requirements can vary based on your circumstances and chosen lender, so book a Free Consultation to understand what's involved in your specific situation.

How do you assess my borrowing capacity as a Mortgage Broker in Armadale?

Assessing borrowing capacity involves a comprehensive analysis of your income, expenses, existing debts, and financial commitments to determine how much you can comfortably borrow. We assess your Debt-to-Income Ratio, review your spending patterns, and consider factors such as your employment stability and future financial goals. Different lenders use varying assessment criteria, which is why working with AXTON Finance provides access to multiple options and potentially higher borrowing limits. We also consider your available deposit or equity, potential use of guarantors, and any applicable Government Grants and Incentives that might increase your purchasing power. As your trusted Finance & Mortgage Broker in Armadale, VIC 3143, we ensure the loan amount aligns with your long-term financial wellbeing, not just the maximum possible borrowing limit. For an accurate assessment of your borrowing capacity, book a Free Consultation where we can review your complete financial picture.