A mortgage broker is a financial intermediary who negotiates the best deals with lenders on your behalf.
Mamga Finance can save you time and money. It is their job to guide you through housing loan interest rates and mortgage conditions. A bank will often only offer a single rate or certain condition pertaining to their organisation. A mortgage consultant will compare many different banks and lending choices and present the most suitable ones to you.
They are paid by commission from the lenders and banks.
We do not charge any fee for standard home loan mortgage broking services.
After we receive the necessary documents, we complete the preliminary assessment and give you any available options to choose from. After determining the best lenders who suits you, we proceed and lodge the loan so that you can get a quick approval.
You will need at least 10% deposit in addition to other purchase costs that might be required. In some cases, a lender will require you to have a 20% deposit to demonstrate that you will be able to afford your home loan repayments.
Most customers have a misconception that mortgage brokers recommend unsuitable loans for their clients so that they can maximize incentives. This is actually illegal. We recommend several suitable loans for any customer and let every customer decide which one to go for. In fact, it is against the Australian laws to assist a client apply for unsuitable loans.
We are not part of any franchise groups. This gives us room to do business with any lender, which means that you will get more choices to choose from.
No we are an independent mortgage referral service.
These approvals are usually valid for three to six months. If the pre-approval expires and you still have no home, an extension can be applied for.
The trick is to apply with the right lender with flexible policies and offers great rates. This is where we are good at and are happy to help you get the right lenders.
We will compare over 40 lenders, banks and financial institutions. Whatever your situation, we will always find a lender to help you.
We are based in Western Sydney, but will service all areas in Sydney including the CBD.