Home Loans

Buy your First Home, Next Home or Dream Home sooner with a Home Loan

At True North Mortgage Solutions, we understand that buying a home is one of the most significant decisions you'll make. It’s essential to find the right Home Loan to suit your needs. Our experienced team is dedicated to helping clients across Australia access Home Loan options from banks and lenders, ensuring you secure the best deal possible. With our guidance, you can be confident in understanding everything from interest rates to lenders mortgage insurance (LMI). Whether you're a first-time buyer or looking to refinance, we make the Home Loan process straightforward and transparent.

When considering a Home Loan, one crucial aspect is understanding the different interest rates available. You can choose between a fixed interest rate home loan, which offers stability with consistent repayments, or a variable interest rate that may fluctuate with market conditions. Each option has its benefits; a fixed interest rate provides certainty, while variable home loan rates might offer interest rate discounts and potential savings if rates fall. Calculating home loan repayments accurately will help you determine which option suits your financial situation best.

Another essential factor is your borrowing capacity. This depends on your credit history, loan amount, and overall financial situation. A solid credit history can enhance your borrowing power and might even lead to better Home Loan Rates. It’s also crucial to consider the loan to value ratio (LVR), as a higher LVR could result in additional charges like lenders mortgage insurance (LMI). By understanding these elements, you can make informed decisions when applying for a home loan.

Navigating the application process can be challenging, but at True North Mortgage Solutions, we ensure it’s as smooth as possible. From gathering necessary documents like bank statements to understanding stamp duty obligations and property market trends, our streamlined application process makes it easier to apply for a home loan. We also offer assistance with Home Loan pre-approval, helping you to get pre-approved for your desired loan amount. This pre-approval gives you a clear idea of your borrowing capacity, allowing you to search for homes within your budget confidently.

One of the strategic ways to manage your Home Loan is by considering an offset account. This type of account links directly to your mortgage, enabling you to reduce the amount of interest paid over time by offsetting your savings against your loan balance. It’s an effective way to utilise home equity and manage your finances efficiently.

In summary, securing the right Home Loan involves evaluating various factors such as interest rates, credit history, and borrowing capacity. At True North Mortgage Solutions, we are committed to guiding you through each step, from the initial Home Loan application to managing your mortgage effectively with tools like an offset account. Our expertise in providing access to Home Loan options from lenders across Australia ensures you find a solution tailored to your needs. Contact us today to explore how we can assist you in making informed decisions on your journey to buying a home.

Getting a Home Loan

Initial Appointment

Begin by having a chat with one of our qualified Mortgage Brokers. We will take the time to understand your situation, including special policies and schemes you may be eligible for. We will also discuss the Home Loan types and loan options from banks and lenders across Australia, guiding you through the next steps of the application process.

Fact-Finding

We will collaborate with you to gain a comprehensive understanding of your financial situation, including your financials, assets, and credit history. This helps determine your borrowing capacity. We will review your bank statements and other relevant documents to provide accurate advice.

Home Loan Application and Approval

When we have determined your borrowing capacity, you can confidently begin bidding or making offers on properties you wish to purchase. Depending on your circumstances, we may also apply for loan pre-approval to give you a higher level of confidence. We will explain the loan amount, interest rates (both variable and fixed), and potential interest rate discounts. We also discuss the importance of the loan to value ratio (LVR) and if lenders mortgage insurance (LMI) may be required.

When you have located a property to purchase, we will apply for formal loan approval for you. This process will involve a valuation of the property if requested by the lender and you will also need to provide up to date financial information including current income documents.

Loan Settlement

Upon settling on the property, your Home Loan will be drawn down, and you will be all set to move forward. We will help you navigate the settlement process. We will also assist in calculating Home Loan repayments and managing your loan interest rate to suit your needs.

On-going service

Your experience with True North doesn’t end when your loan settles. We are here to support you and provide guidance for all stages of your Home Loan journey. We will help you reach your next goal of upgrading your home, accessing equity in your property or adding to your investment portfolio. We review your Home Loan annually to ensure it still suits your needs and to make sure no opportunities are missed to save you money on fees or interest rate.