Mortgage Broker in Essendon West - Mortgage Brokers in Moonee Ponds

Based in Essendon West? Get in touch with your local Mortgage Broker

Welcome to Margin Finance, your trusted Mortgage Broker in Essendon West. Our mission is to help residents like you navigate the complex world of home financing. Whether you are buying a home, investing in property, or refinancing an existing mortgage, we offer expert guidance and access to a wide range of loan options from banks and lenders across Australia. We are committed to finding the best solutions tailored to your unique financial situation and goals.

At Margin Finance, we understand that buying a home is one of the most significant financial decisions you'll make. We simplify this journey by offering a streamlined application process, making it easier for you to apply for a home loan. Our team considers your borrowing capacity, financial situation, and credit history to find loan options that suit your needs. Calculating loan repayments can be overwhelming, but we offer tools and advice to help you understand various factors, including interest rate, loan to value ratio (LVR), and loan amount. Depending on your preferences and circumstances, we can assist with both fixed interest rate loans and variable interest rate loans, ensuring you get the best possible loan rate for your situation.

One of the most critical aspects of securing a mortgage is understanding your credit history and its impact on your loan application. A solid credit history can help you access better loan interest rates and possibly even interest rate discounts. Our team will guide you through reviewing your credit report and addressing any issues that might affect your loan terms. We also help you get pre-approved, enhancing your bargaining power when making an offer on a home.

We know that additional costs, such as stamp duty and lenders mortgage insurance (LMI), can add to the financial burden of buying a home. To ease this, we provide detailed explanations and strategies to manage these expenses effectively. For instance, we explore options like an offset account to help you save on interest payments. If you're considering an investment loan, our expertise in the local property market ensures that you make informed decisions that maximise your investment returns.

Navigating the variable and fixed loan rates can be daunting, but our professionals are here to explain the benefits and drawbacks of each. Variable interest rates can offer flexibility and potential savings if the loan interest rate drops. Conversely, fixed interest rates provide stability in your monthly repayments, shielding you from potential rate increases. We'll help you weigh these options and choose the one that aligns best with your plans.

Applying for a loan involves more than just choosing the right interest rate. We assist you in gathering necessary documents like bank statements and completing the loan application efficiently. Our goal is to ensure a seamless and stress-free experience from start to finish.

Margin Finance is here to help you every step of the way. If you're looking to apply for a home loan or exploring home equity options, get in touch with us for personalised advice and solutions. Our expertise in loan pre-approval can give you the confidence needed to enter the market and make a strong offer.

Embarking on your mortgage journey can be smooth and stress-free with the right support. Connect with Margin Finance today to access personalised, professional guidance for your home financing needs in Essendon West. We are dedicated to helping you achieve your property goals, ensuring you make informed decisions every step of the way. Contact us now to start your consultation and take the first step towards your dream home or investment property.

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As a Mortgage Broker in Essendon West, we'll help you understand the types of loans

Navigating the vast landscape of mortgage options can seem like a daunting task. Our guide to loan types is designed to simplify these choices for residents of Essendon West, enabling you to make informed financial decisions with assurance.

Owner-Occupied Loans: Specifically designed for those intending to reside in their purchased property in Essendon West, these loans generally come with more favourable interest rates and terms. Lenders view these borrowers as lower risk, given that the owners reside in the property.
Interest-Only Loans: With this option, borrowers are initially required to pay only the interest on the loan for a predetermined period, typically ranging from five to ten years. It's crucial to recognize that while this can result in lower payments at the outset, the financial commitment escalates once repayment of the principal begins.
Principal & Interest Loans: Structured to gradually reduce both the interest and principal amount of the loan, these options are aimed at completely paying off the debt by the end of the term.
Variable Rate Loans: These loans feature interest rates that fluctuate according to market trends, which can influence your monthly repayments and the total cost of your loan over its lifespan.
Fixed vs Variable Rate Loans: This involves choosing to fix the interest rate for a certain period, usually between one and five years, to maintain consistent repayment amounts. Following this fixed period, the loan typically shifts to a variable rate, adjusting to market conditions.
Bridging Loans: Ideal for individuals transitioning between homes and awaiting the sale of their current property, these short-term loans act as a financial "bridge". They often come with higher interest rates and shorter durations, expecting repayment upon the sale of the property.

Understanding the distinctive advantages and features of each loan type is crucial. With a plethora of options tailored to meet diverse needs and financial circumstances, securing the perfect loan tailored to your specific requirements is well within reach.

About Your Essendon West Mortgage Brokers

Margin Finance is a team of expert Mortgage Brokers servicing Essendon West. We have expertise in banking, real estate, new finance and refinance, financial literacy, and goal achievement.

At Margin Finance, we believe in personalised service tailored to each resident of Essendon West and their unique needs. We are dedicated to providing a seamless and stress-free experience from the initial consultation to the final approval. Transparency and trust are the cornerstones of our business. We keep you informed at every step, ensuring there are no surprises or hidden fees.

Get in touch with our qualified Mortgage Broker at Margin Finance, where we offer both virtual and face-to-face consultations in Essendon West and surrounding areas.

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A margin exceeding the means of others

Saravanand Naiker

Damian and the team has help us to purchase our home with ease. He has guided us along the way and keeping us informed with the progress. Very proactive and quick to come up with options when needed. Don't think I could have asked for a better Mortgage Broker. Amazing service. Hats off to you and your team.

David Paoli

I recently had the pleasure of working with Damian and the team from Margin Finance and I can’t recommend them highly enough. They made the mortgage process feel seamless and were able to explain everything in simple terms. Beyond grateful for the assistance received.

George Thomas

Outstanding service and expertise, we couldn’t be happier with the experience, Special thanks to Joanna, Damien and Simran. Highly suggested.

Shaun B McMahon

I highly recommend Damian and his team at Margin Finance. As a first home buyer with a smaller budget I had already been through two mortgage brokers who barely gave me the time of day. Damian and his team provided a completely different experience. From the very first call I felt a genuine care and attentiveness that was consistent throughout the entire process. Along the way I signed up for the acquisition service and Damian was incredibly diligent in helping me through my first purchase. He was readily available to answer questions and always in my corner fighting for the best possible outcome. After securing a property his colleagues were incredibly friendly and helpful during the settlement process. If you're looking for a mortgage broker you'll be in good hands with Damian and his team.

Maddi Skeggs

Really enjoyed our experience with Margin Finance. We are first home buyers and Margin were able to answer all of our (sometimes obvious) questions and take the time to explain everything until we full understood it - even if it meant explaining something multiple times. They made us feel secure and safe during the emotional rollercoaster of buying your first house, and I always felt good knowing we had them in our corner. Super personable and easily contactable. Thanks so much to you Damien and especially Andrew for your consistent help and to Jo and Alex also jumping in to support.

Theresa Meach

I couldn’t be happier with my experience with Margin Finance especially Andrew, Alex and Damian. From the very first consultation, the team was incredibly knowledgeable and attentive. They tailored their advice to my situation and provided me with a personalised plan. Andrew and Alex were always available to answer my questions even on their day off!! I would highly recommend Margin Finance to anyone looking for a reliable and knowledgeable team! Thank you again for helping me secure my first home.

THE MEANS TO OVER 45 LENDERS

Frequently Asked Questions

What is a Pre-approval?

Enter the property market with confidence when you are pre-approved for a home loan.

Pre-approval is a crucial step in purchasing a property. To be pre-approved means a lender ‘pre-approves’ an amount you can borrow based on a complete assessment of your financial situation.

This means you can attend auctions confidently and comfortably knowing what your borrowing capacity is. It also means you can begin the building process knowing your limit if you desire to build on vacant land instead of buying established.

Whether you are borrowing a small amount or a larger amount, a formal pre-approval is always a great idea.You'll know exactly how much you are able to spend which places you in a stronger position to negotiate with a vendor or bid at an auction.Another advantage to getting pre-approved? Your final loan will be organised a lot faster.At Margin Finance, pre-approval is cost-free.

What is a Bridging Loan?

A bridging loan acts as a short term loan that funds the purchase of a new property whilst selling your existing property.

Bridging loans can also provide finance for you to build a new home while you live in your current home.

Generally, you would have 6 months to sell the existing property or 12 months if you are waiting for your new home to be built.

What do I do if I need to buy or sell first?

If you are relying on selling your current home in order to purchase the next, you may face difficulty organising funds to cover any time gap between the sale of your current property and buying your new home. In this case, a bridging loan could be the solution.

There are different things that can happen when you are ready to ‘move on’ from your first property, such as turning your current home into an investment property and using available equity to help you purchase your next home.Things like this can become quite complex and using a specialist like Margin Finance can help remove any stress, or room for potential error, from the process. Leave it with us and we will make sure your loans are structured perfectly to suit your unique situation.

What is a Deposit Guarantee?

Another finance option is a deposit guarantee, also known as a deposit bond.

Instead of putting down a cash deposit to secure your new home, you take out a deposit guarantee provided by a lender.

It can be a cheaper alternative to a bridging loan and it provides you with reassurance that the new property will be held until you settle your own home.

What is a Variable-Rate Mortgage?

Variable-rate mortgages have an interest rate that can fluctuate based on market conditions. This type of loan offers flexibility and the potential for lower repayments if interest rates decrease. However, it also means that repayments can increase if rates rise, impacting your budget.

What is a Fixed Rate mortgage?

A fixed-rate mortgage is a loan where the interest rate remains the same for a specified period, typically between one and five years. This type of loan provides certainty in repayments, making it easier to budget and plan for the future. Fixed-rate loans are ideal for those who prefer stability and predictability in their financial planning.

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49 Homer St, Moonee Ponds VIC 3039

03 9448 8363

MY OPTION LOANS PTY LTD AS TRUSTEE FOR MACADA FAMILY TRUST ABN: 19 385 994 864. Credit Representative #445563 is authorised under Australian Credit License #391237

Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.