Like most things in life, there are processes in place to obtain something of value to you.
Purchasing a home, whether it is to live in or for an investment is a very good example of processes in place of not only obtaining the loan but also to protect the consumer.
With a home loan the basics are the following:
- you save a deposit,
- approach the bank/lender for a loan,
- after approval you move in and start paying that loan off over a number of years
Is it really that simple?
- No! There is a lot more to this process than you may think.
- First of all, let me say the more you save, the lower the amount you need to borrow; thus you end up paying less interest to the lender over the life of the loan.
- Which bank or lender do I choose?, the one I bank with; or is there another lender whom can assist me better, and possibly give me a better service, a cheaper interest rate, a rewards credit card, no fees on the loan, etc.…
- There is a lot to consider, documents to provide, and that seemingly never-ending running around to ensure the loan goes through. Or do I approach an accredited finance broker?
Let us at Progressive Loans do the work!
It is a free service, so why run around for the bank/lender or banks/lenders trying to find the best loan suited to your needs and situation.
- Yes, it’s a free service to you, but we get paid by the bank/lender; so no we don’t go hungry.
- A broker should be accredited by a panel of lenders, giving you many options of where to get that all important loan which is, of course, one of life’s bigger financial decisions. We are accredited with over 45 lenders.
- A broker will be familiar with the products and services that each of his panel of lenders can offer you. He /She will also be aware of restrictions the lenders have, such as will they lend to someone with a small business? All of these answers can and will be provided by us.
- Having a broker makes the process of obtaining a loan much easier, with many more tailored options placed in front of you.