Finding the Best Low Rate Loans

Bendigo's Expert Home Loan Brokers

Discover personalised home loan solutions with Bendigo's leading experts. As Bendigo’s trusted home loan brokers, we're dedicated to finding you the best rates and terms to suit your unique needs.

Explore Your Options

Empowering Your Home Buying Journey

Start your new home journey with Bendigo's premier home loan broker. Our dedication lies in securing you the best rates and ensuring swift, tailored mortgage solutions. Trust us to be your guide in the complex world of home loans.

Why Choose a Bendigo Home Loan Broker

Choosing a Bendigo-based home loan broker means receiving service that's tailored to you. Benefit from our deep understanding of the local property market and our strong community connections, ensuring you receive the "best" and "lowest rate" mortgage solutions.

Understanding Bendigo's Market

Navigating the home loan market in Bendigo requires a deep understanding of the local real estate landscape. Our expertise in Bendigo's property market trends and insights ensures that we provide relevant and effective mortgage advice. Whether you're a first-time buyer or looking to refinance, our knowledge of local property values, community developments, and regional lending criteria plays a crucial role in securing the right loan for you.

Why Local Knowledge Matters

Local knowledge in mortgage brokering is more than just understanding the financial aspects; it's about grasping the community's pulse. Our team, deeply rooted in Bendigo, brings a nuanced perspective that only locals possess. This means we can offer tailored advice that aligns with your specific needs within the Bendigo market, ensuring that you receive not just any home loan, but one that complements your lifestyle and future plans in the region. This local insight is invaluable in finding the best home loan options to suit your needs.

Our Home Loan Services

We have access to diverse home loan options to meet your needs with a wide range of home loan products, designed to fit every need. Whether you're seeking the stability of fixed rates, the flexibility of variable rates, or a low doc loan, we have you covered. Our services are crafted for various buyer profiles, ensuring you get a competitive rate and terms that work for you.

Low Doc Loans

Ideal for self-employed individuals or those with non-traditional income sources, low doc loans require less documentation than standard home loans. They offer flexibility for those who may not have regular pay slips or up-to-date financial statements, but they typically come with slightly higher interest rates due to the perceived higher risk.

Fixed and Variable Rates

Our range of home loans includes both fixed and variable rate options. Fixed-rate loans provide stability with consistent repayment amounts for the fixed period, making budgeting easier. Variable rate loans offer flexibility, often with lower initial rates and features like extra repayments or redraw facilities. Choosing between fixed and variable depends on your risk tolerance and financial situation.

First-Time Buyer Specials

For first-time homebuyers, navigating the property market can be daunting. We offer specialized home loan products tailored to meet the needs of first-timers, including lower deposit requirements, potential government incentives, and competitive rates. Our aim is to make your first home purchase as smooth and affordable as possible.

A Home Loan Consultation with a Lead Advisory Group Mortgage Broker

How to Find the Best Home Loan for You

Discover how to find the home loan that best fits your circumstances. We guide you through comparing rates, comprehending fees, and understanding loan features. Our personalised advisory services are here to ensure you make the best choice.

Comparing Rates

Finding the right home loan often begins with comparing interest rates. It's crucial to not only look at the headline rate but to understand how it affects your monthly repayments and the total cost of the loan over time. Consider both fixed and variable rates and how they align with your financial goals. Remember, even a small difference in the interest rate can have a significant impact on the total amount you will pay over the life of the loan.

Understanding Fees

Beyond interest rates, various fees can affect the cost of your loan. These may include application fees, ongoing account-keeping fees, early repayment fees, and discharge fees. It's important to factor these into your overall cost calculations. Some loans with lower interest rates may have higher fees, which could make them more expensive in the long run. Understanding and comparing these fees across different loan offers is crucial in making an informed decision.

Personalised Consultations

Every borrower’s situation is unique, and what's best for one person may not be the best for another. This is where personalised consultations become invaluable. Our experienced mortgage brokers take the time to understand your specific circumstances, financial goals, and preferences. We can then provide tailored advice and options, helping you navigate the complexities of home loans. Personalised consultations ensure that you're not just getting a home loan, but the right home loan for your unique situation.

Understanding Home Loans – Key Terms Explained

Term: Fixed-Rate Mortgage

A fixed-rate mortgage is a home loan with an interest rate that remains constant for a specific period, usually between 1 to 5 years, but sometimes as long as 10 years. This type of loan offers stability and predictability in repayments, making budgeting easier. However, it may have limited flexibility, such as restrictions on extra repayments.

Term: Variable Rate Mortgage

Unlike fixed-rate mortgages, variable rate mortgages have interest rates that can change over the loan term, influenced by market conditions and decisions of the Reserve Bank of Australia. This means your repayments could go up or down. They often offer more flexibility, like the ability to make extra repayments or have a redraw facility.

Term: Equity

Equity refers to the part of your property that you own outright, calculated as the property's current market value minus any remaining loan balance. It represents the portion of your property's value that you have 'paid off.' Equity can increase as you reduce your loan balance or if your property's value rises.

Term: Refinancing

Refinancing involves replacing your current home loan with a new one, either with the same or a different lender. This can be done to secure a lower interest rate, better loan features, or to consolidate debt. It’s important to consider the costs associated with refinancing, like break fees or establishment fees for the new loan.

Term: LVR (Loan-to-Value Ratio)

LVR stands for Loan-to-Value Ratio, which is the proportion of money you borrow for a home loan compared to the value of the property. It is a key risk indicator for lenders. A lower LVR means you're borrowing less in proportion to your property's value, which often results in more favorable loan terms and interest rates.

Term: Offset Account

An offset account is a transaction account linked directly to your home loan. The balance in the offset account is used to 'offset' against your loan balance, reducing the interest charged. For example, if you have a home loan of $500,000 and $20,000 in your offset account, you'll only be charged interest on $480,000. This can significantly reduce the amount of interest you pay over the life of your loan.

Our Clients Speak: Success Stories

Hear from our clients about how we've assisted them in securing low rates and achieving quick loan approvals. Their stories reflect our commitment to excellence.

Zephyr De Luna, Lead Advisory Group Home Loan Broker Client

Zephyr DeLuna

"I was really glad that I had Allan Underwood's  experience in real estate, in addition to his expertise liaising with different lenders to assist me in successfully obtaining finance as a single person and to top that off, I got a dual zoning property (residential/commercial) which are hard to get approved! There was some strategy involved, as well as a lot of patience! Allan was very understanding and encouraging, especially when I was becoming disheartened whenever I would be outbid by another buyer.Allan was able to answer all my questions and update me with information so I was kept in the loop as much as possible, and understand the process. I was really grateful that Allan could liaise with the Conveyancer and Real Estate Agent in the end which was very helpful."
Mischa Tanashevich, Lead Advisory Group Home Loan Broker Client

Mischa Tanashevich

"Thank you Allan for changing our families lives for the better. You were realistic, clear and always happy to help. You assisted and persisted despite the challenges of our situation. Can't really find the words to describe how grateful we are. I hope to be able to repay you some day for all you did and for making the financial process an absolute pleasure."
Erin Gunn, Lead Advisory Group Home Loan Broker Client

Erin Gunn

"Allan went above and beyond to assist with the process of my mortgage. It wasn't an easy process, but he never gave up. Couldn't recommend him enough!!"
Matthew Davey, Lead Advisory Group Home Loan Broker Client

Matthew Davey

"Incredibly thorough and accommodating. Allan worked with me to ensure I was perfectly positioned to secure the best possible deal for all of our requirements!! Not only are we now saving on monthly repayments, but have purchased a new car, caravan and will be renovating as well!!! Can’t thank Allan and the team at Lead Lending enough."
Rebecca Gitau Maroro, Lead advisory Group Home Loan Broker Client

Rebecca Gitau Maroro

"Allan went above and beyond to help us with our first home loan. We had many hoops and barriers to get through....but not only did he get us approved but we found our dream home! 100% recommend Allan to any first home buyers or anyone with borrowing needs - excellent communicator and strong people skills-the list goes on & on! Thank you Allan and your team!!"

FAQs

Your home loan questions answered.

What is the difference between a fixed-rate and a variable rate mortgage?

In a fixed-rate mortgage, your interest rate stays the same for a set period, offering consistent repayment amounts and budgeting ease. A variable rate mortgage, however, has an interest rate that can change, influenced by economic factors, possibly leading to fluctuating repayment amounts. Variable rates often come with more flexibility, such as the ability to make extra repayments.

How much deposit do I need for a home loan?

Generally, a 20% deposit of the property's value is recommended to avoid paying Lenders Mortgage Insurance (LMI). However, some lenders offer home loans with smaller deposits, which might come with higher interest rates or require LMI.

What is Lenders Mortgage Insurance (LMI)?

LMI is a type of insurance that a lender may require if you borrow more than 80% of the property's value. It protects the lender against the risk of the borrower defaulting on the loan. While it increases the cost of the loan, it allows buyers to purchase a home with a smaller deposit.

Can I get a home loan with a low deposit?

Yes, there are home loans available for buyers with deposits less than 20%. These loans might require purchasing LMI or meet certain criteria, such as having a strong credit history or stable employment.

What is a pre-approval, and how does it work?

Pre-approval is a lender's initial assessment that they are willing to lend you a specific amount under certain conditions. It’s not a guarantee but gives you a clear idea of your borrowing capacity, aiding in your house-hunting process.

How do interest rates affect my home loan?

The interest rate on your home loan directly impacts the amount of interest you pay over the life of the loan. Lower interest rates lead to lower monthly payments and can save you money over time, whereas higher rates increase the cost.

What is an offset account, and how does it work?

An offset account is a savings or transaction account linked to your mortgage. Funds in this account offset against your home loan balance, reducing the interest you pay. For example, if you have a loan balance of $300,000 and $20,000 in your offset account, you will only be charged interest on $280,000.

Our Brokerage Team Discussing Home Loan Options with a Client
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Begin your home loan journey with us. Contact us for personalised advice and solutions that cater specifically to your needs.

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Discover personalised home loan solutions with Bendigo's leading experts. As Bendigo’s trusted home loan brokers, we're dedicated to finding you the best rates and terms to suit your unique needs.

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