Make sure you get all the facts before you sign up for a home loan, consider the overall cost of the home loan, including application, fees, lenders legal fees, valuation fees and most importantly the hidden costs such as ongoing fees and exit fees. If using a broker make sure they provide a copy of a finance brokers contract detailing what they make out of the loan, this is law in some states of Australia.
2. Experience Counts
In any financial transaction, getting in touch with the right people can make a positive difference for you. Today too many people involved in providing mortgage are sales people first and lenders second. Make sure that you deal with someone that has a wide range of experience and has a well rounded knoweldge of finance. Use someone with experience dont let them use you to gain experience.
3. Shop Around
Often lenders will not publicise their best deals to the public, they keep these deals up their sleeves for clients they want to attract. Whether you end up with these deals can depend upon who you speak to at the bank. If you do not have time to shop around consider using a mortgage broker but make sure they have the right contacts and are reputable.
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