Frequently Asked Questions
Is it better to choose a bank or a mortgage broker for my loan?
Are you considering whether to choose a traditional bank or a Sunshine Coast mortgage broker?
Mortgage brokers have access to a wide network of lenders, including banks, credit unions, and non-bank lenders, giving you more home loan options to choose from. This increases the likelihood of finding a loan that best suits your needs and financial situation.
Mortgage brokers also take the time to understand your unique circumstances and financial goals to get you the best mortgage possible. They can recommend loan products tailored to the borrower’s specific needs, whether it’s a first-time homebuyer, an investor, or someone with a non-traditional income.
Choose our dedicated team at Lendstreet today to access lower rates, increase your purchasing power, and find a mortgage choice that suits you.
How much do I need to pay for a mortgage broker in the Sunshine Coast?
The cost of hiring mortgage brokers in the Sunshine Coast depends on the home loans you require and their complexity. Here are the typical costs of hiring a mortgage broking service:
Lender-Paid Commission: When a borrower obtains a mortgage through a broker, the lender pays a commission to the broker for bringing them business. This commission is typically a percentage of the loan amount. At Lendstreet, you don’t have to pay any fees as we are paid by the banks.
Borrower-Paid Fees: Mortgage brokers also charge fees for home loans to the borrower. These fees vary and often include application fees, origination fees, and processing fees.
Combination of Commission and Fees: Mortgage brokers sometimes charge lender-paid commissions and borrower-paid fees for home loans. They may receive a commission from the lender and also charge certain fees to the borrower for specific services provided, like credit checks or loan processing.
Remember, if the broker is upfront about how they receive their commission, then they’re likely to be more trustworthy. If your mortgage broker is secretive about how they get paid, this is a red flag.
How can a sunshine coast mortgage broker can help me?
A Sunshine Coast mortgage broker doesn’t just help you secure a home loan – they act as a guide throughout the whole process, from initial inquiries to contract signing. They are professionals in the finance industry with experience in how to compare interest rates and provide loan estimates. The best mortgage broker will have intricate knowledge of the Sunshine Coast housing market and will be able to help you secure the best possible deals.
Mortgage brokers in Sunshine Coast will also be able to help you:
- Obtain loan protection insurance
- Assess personal loans available to you
- Discuss loan requirements and help you make informed decisions
Can I consult with your mortgage brokers online?
Yes, we offer fully online services to all our clients, meaning you don’t need to commute to one of our offices. Book an appointment here to start the home loan process.
What type of home loans can you get for me in the Sunshine Coast?
As prominent mortgage brokers in the Sunshine Coast (QLD), we offer many different loan types to our clients depending on their personal circumstances. These include:
- Loans for first-home buyers
- Low-doc loans
- No or low-deposit loans
- Guarantor loans
Where is Lendstreet’s office in Sunshine Coast?
Our closest office to the Sunshine Coast is in Brisbane. The office is located at Unit 3, 5 Navigator Place, Hendra QLD 4011. If this is too far of a commute, you can always book an online appointment with us here.
What documentation do I need to apply for a mortgage loan?
Gathering the right documents prior to home loan application is essential, as it ensures you have the best possible chance of reaching home loan approval.
You need to gather the following documents depending on your home loan options:
- Identification documents, including a valid passport, driver’s license, or Medicare card.
- Proof of income in the form of pay slips, payment summaries, or personal and/or business tax returns for the past two years, including financial statements if you’re self-employed.
- Proof of additional sources of income such as overtime or bonuses.
- Proof of savings, shown on bank statements.
- Employment contracts.
- Statements or documentation for any existing loans, like personal loans, car loans, credit cards, or other outstanding debts.
- Details of any dependents, including children or elderly family members.
Please note that the types of documents you need depend on the home loans you’re applying for. For instance, if you’re applying for a low-doc loan, you won’t need as many documents.
Our trusted mortgage brokers will be able to give you a detailed checklist prior to your application. Contact us today to start the application process.
Which lenders do you work with in Sunshine Coast?
We work with over 50 leading lenders in and around the Sunshine Coast, including ANZ, Pepper Money, NAB, St George, Westpac, and many more.
With Lendstreet, you have access to different home loan products with different terms and rates, ensuring you find the right one for your individual needs. Find out more about our prominent lenders here.