Not all mortgage brokers work with first home buyers. In fact, some actively avoid adding this as a service because it tends to be a little more complicated than working with those who are already in the property market. That’s why it’s so important to choose a mortgage broker who has experience with first home buyers. You want to work with someone who not only knows what they’re doing, but who will actively help you navigate through this challenging process.
At Cherry Lending & Finance, working with first home buyers is high on our service list. Why? Because we understand that the process of buying your first home can feel daunting and confusing. Instead of throwing facts and figures your way that you have never heard of before, we’ll take you through the process in a step-by-step manner and leave space for open communication the whole way. We’ve helped many first home buyers, and we’d love to help you.
What is a mortgage broker for first home buyers?
A mortgage broker for first home buyers is a certified professional who will help you through the loan process in securing your first property. As they are not aligned to just one bank or lender, they are able to offer you a wider spectrum of choices for your borrowing needs. They’ll offer you guidance and help with your loan application, and they are particularly helpful for first home buyers. Trying to buy your first home on your own can be incredibly challenging but the right mortgage broker will be there to support you along the way and do all the heavy lifting for you.
What should first home buyers look for in a mortgage broker?
- Someone you can trust. Do your research. These days, any bad experiences will get logged online, so a simple deep dive into the mortgage broker will give you a quick indication on their reputation. Make sure you choose someone who has had positive reviews who knows what they’re doing in the first home buyers’ space. You also want to find a mortgage broker who is open about their fee structure so that trust is solidified from the start of the process.
- Someone with good lending options. You’re using a first home buyer’s mortgage broker because doing it yourself can be difficult. You want to team up with a broker who has a lot of good connections with various lenders so that your chance of getting a loan increases.
- Someone with good communication. First home buyers need more communication with their brokers than those who are already in the property market. It’s important to have someone who welcomes your questions and understands how overwhelming this experience can be. The best broker genuinely cares about you and is committed to helping you reach your financial goals.
- Someone knowledgeable in all areas of the industry. Look for a mortgage broker with comprehensive industry expertise, particularly someone well-versed in the latest government incentives and initiatives for first-time home buyers.
Buying your first home can be overwhelming, but with the right mortgage broker it doesn’t have to be. Do your research and make sure you’ve found someone willing to go the extra mile for you.
Find your first home with Cherry Lending & Finance
First home buyers don’t have it easy, which is why we’ve compiled our very own in depth First Home Buyers Guide. This resource is completely free to download, and can be a game changer when it comes to ensuring that you’re up to speed on how to get into your first home faster.
With a background in banking, finance, business development and project management, there’s no better advocate to have on your team than Nikki Berzin. As a fully qualified mortgage broker and director of Cherry Lending & Finance, Nikki is passionate about all things finance, and empowering her clients with the tools to hit their property goals is what she does best, and another example of this is the free to use Savings Goal Calculator found on the Cherry Lending & Finance website.
If you’re looking to get into your first home, purchase an investment property or even want to look at your options for refinancing, the first step is starting the conversation. Get in touch with Nikki today, or call her directly on 0427 374 155 to bring your mortgage dreams to life.
