We’re feeling pretty happy about this story because it shows just one of the reasons why mortgage brokers play a huge role in home loan lend.

Clients of ours applied for a construction loan through us. The deal was submitted based on the anticipated valuation and the Mortgage Insurance was calculated as being just over $8,000. The documents were issued with this amount of Mortgage Insurance but the valuation actually came back higher than expected which should have reduced the Mortgage Insurance to around $4,000 but the bank didn’t do anything about this until we got involved. New documents are now being issued.

Imagine how much extra this $4,000 would have compounded to over a 30 year loan term!

• More Fixed Rate Drops
• PLAN Lending Fixed Rates Reduced
• Should I go for fixed rates?
• What is Mortgage Insurance?
• Buying At Auction
• Reserve Bank Speech
• Changes in NSW Stamp Duty
• Increase the odds of getting your home loan approved
• Fixed Rate Special Deals
• New or old investment properties

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