Geebung Mortgage Broker

When it comes to securing finance, preparation is key. It’s like training for a marathon – the earlier you start, the better equipped you’ll be to succeed on the day. This is why it’s so important to start engaging with a broker early – preferably 3 to 6 months before you’re planning to buy.

Why so soon? Because this allows you to go beyond the basics of just saving a deposit. Your Geebung mortgage broker will also help you to accurately assess your:

• Credit score
• Borrowing capacity
• Financial Profile

They can identify any potential red flags and make practical recommendations on how to fix these issues. This advance preparation enables you to position your borrowing profile in the strongest possible way once you’re ready to apply for a loan.

Key Steps to Take with Your Geebung Mortgage Broker

What are some of the advance steps you can take with your Geebung mortgage broker?

• Review Your Credit Report: In addition to finding out your credit score, make sure you also look for any potential errors or outstanding debts. If you find any, work to get these rectified as soon as possible.
• Establish Genuine Savings: “Genuine savings” means funds you’ve been able to build up over time (preferably over 3-6 months). Most lenders view this as a good indication that you can consistently manage your finances and make the necessary repayments on your loan.
• Set a Realistic Budget: This will help you figure out how much you can afford to repay on a loan each month. For it to be realistic, you need to make room for all your typical living expenses. While this can include a plan to cut back on unnecessary expenses, it shouldn’t mean any cuts that compromise your quality of life.
• Secure Pre-Approval: A Geebung mortgage broker can help you obtain pre-approval so you can search for a property with a firm budget in mind. This can help you focus your search and act with greater confidence once you’re ready to make an offer.

Choosing the right suburb can sometimes feel as daunting as finding the right home loan. But with strong infrastructure and connectivity, a family-friendly atmosphere and relative affordability, the northern suburbs are proving to be a real drawcard for both investors and first home buyers alike.

Conveniently positioned just off the A3, Geebung tends to fly under the radar compared to nearby suburbs like Chermside and Aspley. However, Geebung has a lot to offer, as evidenced by its high owner-occupancy rates. Some of its biggest drawcards include:

Convenient Public Transport
With its own train station, Geebung offers inner-city commuters an easy and convenient form of transportation. Located on the North Coast line, residents of Geebung can reach the CBD in just over 20 minutes or go north to the Redcliffe Peninsula in half an hour.

Employment Hubs
With an industrial area, commercial precinct and the adjacent Virginia industrial pocket, Geebung serves as a key employment hub. These sites boast a high concentration of businesses in the manufacturing, engineering, warehousing, logistics, distribution and trade sectors.

Access to Amenities
Geebung’s local shopping plaza provides easy access to supermarkets, cafes, restaurants and a small selection of shops. For a wider range, Westfield Chermside is just minutes away, with close to 500 different stores and services to choose from.

Education Providers
Geebung has a combination of state, private and specialist primary schools for residents to choose from, while the nearby suburbs of Aspley, Wavell Heights, Chermside and Kedron offer a range of state and private secondary schools.

Parks and Recreation Facilities
Geebung is home to a variety of parks and green spaces, including the magnificent 7th Brigade Park. This 73-hectare park is one of the largest in Brisbane, with a children’s playground, cricket pitch and basketball half-court. It also offers BMX and skate tracks, as well as barbecue and picnic facilities.

When it comes to buying a home, it’s critical for borrowers to have full cost awareness before committing to a purchase. What does this mean? Essentially, it’s appreciating and planning for all of the associated costs involved in buying a home.

The total amount you’ll need upfront will depend on what kind of property you plan to buy, the price bracket you’re buying in, and whether or not you’re a first home buyer. Fortunately, this isn’t something you have to calculate on your own. A Geebung mortgage broker can help you sort through all the details so you’re prepared when the time comes to buy.

Deposit
To avoid Lender’s Mortgage Insurance (LMI), many home buyers aim for a 20% deposit. However, those who qualify for the Help to Buy scheme can apply for a loan with a deposit of just 2%, while first home buyers may be eligible for a loan with a deposit valued at just 5%. A Geebung mortgage broker can explain eligibility criteria and help you determine how big a deposit you’ll need.

Stamp Duty
Stamp duty is charged by the Queensland Revenue Office (QRO) and is paid by the property buyer. However, a range of concessions apply for eligible home buyers. This can include those buying a first home, those buying a second or subsequent home that they plan to live in and those buying a newly built home.

Pre-Purchase Inspections
Pre-purchase inspections (such as building or pest inspections) aren’t required by law, but they are highly recommended by most industry professionals (including most Geebung mortgage brokers). Investing in these inspections can save you from buying a home with serious defects.

Conveyancing Fees
Professional legal support is required when finalising the sale of a property. Whether you use a conveyancer or a lawyer, you’ll need to budget for the fees associated with transferring the property title.