Mortgage Broker Gold Coast

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Home Loans

First home buyers, refinancing and equity release. More

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Equity strategies to create wealth. More

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First Home Buyers

Loans for First Home Buyers. More.

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What is a Non-Conforming Loan?

Loan Application

A non-conforming home loan is simply a term used for home loans that don’t typically conform to the major banks' standard loan criteria. It is the opposite of what’s called a ‘prime’ home loan.

This may include situations where the applicant has a poor credit history, or who may not have been employed long enough to show a history of earning an income.

Non-conforming loans may exceed 80 per cent of the security's value and the interest rate is based on the severity of the credit history.  If you have any concerns about non conforming loans call us here at Go Mortgage on 1300 855 244.

 

Do I need a Non Conforming or Specialist Loan?

Non-conforming isn’t a commonly used term. But if you’ve ever been declined for a home loan, you may have been given this as an explanation by your lender or bank. You may also hear it referred to as a ‘specialist’ home loan product.

When you’re labelled as ‘non-conforming’, it’s understandable you may feel help might be hard to find. But not to worry.Go Mortgage adopts a more flexible and holistic approach that has helped provide non-conforming home loans to borrowers for over 10 years. And that has translated to helping borrowers just like you achieve home loan finance, all with their own circumstance, even if you:

  • Are Self-employed
  • Recently started a business or a new job
  • Don’t have a perfect credit history
  • Been previously bankrupt
  • Have an ATO debt you need to payout
  • Have a solid income, but not much of a deposit
  • Have a deposit but it’s an inheritance or a gift
  • Work means you regularly change jobs, it looks like there’s no stability but it’s just the nature of the industry
  • Need to consolidate a few other debts such as personal loans, credit cards or business debt
  • Nearing retirement and the major lenders won’t have a bar of you
  • New Australian resident, and therefore can’t verify previous credit history.

If any of the above applies to you give us a call on 1300 855 244.

 

john

John’s Story

“It made me feel like I was getting my life back together.”


“I wasn’t discharged from Bankruptcy for long, probably about a month or so.

Before applying with Go Mortgage, I enquired with the big banks but I couldn’t apply, because I was a discharged bankrupt they rejected me straight away. The big banks were saying something like five years or something I’d have to wait before I would have any chance of getting a loan again!

So I thought I didn't really have much choice then. I could understand, but I just wanted to get on with my life, get back on my feet. I thought I had done my time and my situation was now pretty good and should be considered fairly.

Luckily I found & got in touch with Go Mortgage. They listened and we worked out a plan. Before too long we applied for a loanand it went pretty smoothly from there. The best thing was it made me feel like I was getting my life back together. You feel like you're somebody again you know. I went through some pretty hard times, and sometimes you feel like you just vanished.

I would just say that Go Mortgage have been good to deal with. If you want to go for a mortgage, give them a try I wouldn't hesitate in saying to someone, ‘Give them a go… No pun intended.”

- John, Warehouse Manager, Archerfield QLD -

How Much Deposit Do I Need to Buy a House?

How Much Deposit Do I Need to Buy a House

How much deposit do I need to buy a house is a question we get asked daily here at Go Mortgage. The answer is simple. It depends who you ask. Walk down to the local bank and you will find you may be required to pay way too much deposit. Here at go mortgage we have helped hundreds of clients get into a house with little to no deposit at all. If you need more information about how much deposit you need to buy a house with no deposit call 1300 855 244.

 

First Home Buy Fears

First home buyers are worried about getting into the property market. A new survey has revealed that more than half of first home buyers are concerned about being able to qualify for a home loan.
According to the survey by comparison website finder.com.au, 56 per cent of first home buyers surveyed said one of their biggest worries about entering the property market was the prospect of gaining a home loan.

Millenials Hit the Hardest

The highest proportion of people worried about buying their first home are aged 30-35.
"Buying your first property can be an overwhelming process and these fears can become both emotional and financial hurdles for those trying to get onto the property ladder. One in three Australian first home buyers admitted to needing help from their parents in order to break into the property market, whether this be financially, or whether it means having them as a landlord."
The survey found the biggest fear for first home buyers is missing out on their dream location, with 72 per cent of participants selecting this option.
Almost one in five participants are looking to purchase property within the next six months.

The Deposit Problem

It is also found that the biggest hurdle is saving or coming up with a deposit
The question of ‘how much deposit do I need to buy a house?’ is often easily answered in real life however it does not mean that the banks are happy with the answers. Gifts from relatives, sale of cars or possessions are often not good enough to meet their ‘genuine savings requirements’

No Deposit Needed

Luckily, at Go Mortgage, we are ahead of the game and not only know how to present applications to the lenders but also have partnered with prominent players in the finance and building industry so that we are able to offer our ‘First Home Buyers Integral Solution’... This a ‘No Deposit’ offer which enables First home Buyers to purchase a home without a deposit as long as they meet a handful of simple criteria.

Click here to do the X questions TEST & see if you qualify to get your first home with no deposit needed or Call Go Mortgage on 1300 855 244

Mortgage Broker Gold Coast - Ten Questions to ask a Mortgage Broker

Mortgage Broker Gold Coast - Ten Questions to ask a Mortgage Broker

Finding a Mortgage Broker on the Gold Coast is not any easy. Using a mortgage broker to help you choose a home loan can save you considerable time and could result in huge savings.

However, before you decide on a mortgage broker on the Gold Coast, you need to make sure they’re going to meet your needs. Here are some questions to ask. If you want to know more about what you need from a mortgage broker here on the Gold Coast feel free to call Go Mortgage on 1300 855 244.

 

1. How long have you been a mortgage broker on the Gold Coast?

It may help you feel more comfortable with your decision if you know the person you intend to choose as your broker is experienced and has a solid track record. This question will let you know how long they have been a mortgage broker on the Gold Coast and what sort of lending they’re involved in. Also ask them to provide client testimonials, if possible.

2. Are you a licensed mortgage broker and a member of a professional mortgage industry body?

It’s important to check a mortgage broker’s qualifications and credentials. Major lenders require that brokers complete at least a Certificate IV in Financial Services and either hold an Australian credit licence or be authorised under a licensed home loans aggregator or lender. They should also be a member of the Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA).

3. Do you have access to a range of different mortgage lenders?

The mortgage broker on the Gold Coast you choose should be able to offer you loans from a large number of Australian lenders. Ask how many they have access to and if they can provide you with a full list. That way you can have confidence in their contacts and know that they have a wide selection to choose from.

4. How do you determine the best lender?

Your mortgage broker’s primary job is to source the best home loan for your specific needs. Securing a low interest rate is key, but a broker should also assess your requirements and then present a number of product options. They should be able to demonstrate how they research and rate their selections, and which loan best fits your circumstances.

5. What fees and commissions are you entitled to?

This question may seem blunt, but keep in mind that brokers generate income from every transaction they complete. Especially on the Gold Coast it’s good to understand how they are paid, and how that may affect you. The mortgage broker must disclose all payments and commissions they receive.

6. How much can I borrow?

As part of the process, a mortgage broker should provide an idea of how much you can borrow based on your deposit, income, assets and liabilities. This will help you understand what type of property you can afford to buy.

7. Do you help with first home owners grants?

First-time homebuyers may be entitled to government grants and other incentives. Your mortgage broker should know what’s available here on the Gold Coast or in your state or territory and assist with any paperwork.

8.What’s the best loan structure for me?

A good mortgage broker should advise you on which loan structure makes most sense for you. Ask whethera variable interest rate loan is best, or whether you should have a loan with split portions providing both variable and fixed rates.

Also ask if it does include an interest offset account, a redraw facility, and should you pay principal and interest, or interest only?

9. What are the next steps?

Ask about the process for getting your loan application underway, including any information and documentation you need to provide them as the intermediary between you and the lender. Your local Gold Coast based mortgage brokershould be able to give you a checklist.

10. How long will it take?

This will determine how quickly you can start shopping around. Ask the mortgage broker to estimate when you should get pre-approval from the lender and also how long the full approval and settlement process should take from start to finish. 

To get the ball rolling on your home loan, make Go Mortgage your first mortgage broker choice on the Gold Coast. Call 1300 855 244.

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Office Business Hours

Our client support line is
available 9 Hours a day on
1300 855 244

Monday-Friday: 7.30am to 4.30pm
Weekend: By Appointment Only

Email Us

Office Location

  • GOMC_Logo_-_Square_-_White 7 Kendall Place
    Helensvale QLD 4212
  • mailPO Box 654
    Helensvale QLD 4212
  • E-mail open-512info@gomc.com.au

902

Homes financed
902

93%

Satisfied clients
93%

$176M

Under management
176 million