Go Mortgage Corporation

Sometimes, it can feel impossible to buy your first home especially with the need to have a large deposit. You may think you need a large deposit of around 10%, but this percentage can actually change depending on your personal circumstances. As there are plenty of factors involved, it can get a little complicated to know how much of a deposit you actually need. For example, one person may only need a 5% deposit as they have an excellent credit rating and have been in their current employment for many years. You may still need to pay mortgage insurance in this situation. Another person may need to provide a 20% deposit as they’re self-employed and have a couple of defaults on their credit report. However, there are some instances where you won’t need an up-front deposit and you may be eligible for a home loan without one. These “no deposit” home loans can be just what a new homeowner needs to get on their feet and purchase a home. There are also “low deposit” home loans

You may be just starting out looking for a home loan and things may be starting to get a little complicated. Home loan shopping can be quite confusing, especially when there are plenty of different loans on the market, fees and charges and types of loans. One of the easiest ways to get past all of the home loan jargon is by getting the assistance from a mortgage broker. Essentially, a Mortgage broker will do all the legwork for you. They can assess what your needs are and do the “shopping” for you. They will go through different lenders and banks to see if they have a product that suits you. They can then go through any questions you have and be your main point of contact when it comes to anything to do with your new home loan and the application process. You won’t have to pay the mortgage broker directly, either. A fee is paid directly to them by you, the applicant. Instead the mortgage broker will receive a commision from the lender after the mortgage is processe