How to get lower than advertised mortgage rates from Big Banks.
When shopping for a home loan, interest rates can play a big role in the cost of your mortgage. Advertised rates from major lenders can be high, making it feel like you’re paying more than you should. But what if we told you that you could potentially get a better rate than what is advertised?
Factors
There are several factors that impact the interest rate you’ll receive on your home loan, including your credit score, income, and financial history. Improving these factors and pre-qualifying for a loan can increase your chances of getting a lower rate.
Solution
As an individual, you won’t be able to get non-advertised rates, as these rates are normally only available for aggregators or mortgage brokers who will broker the deal on behalf of the customer. Based on circumstances, a mortgage broker could get you better rates but it all depends on your situation and the relationship the broker has with the lender.
Work with a mortgage broker who specializes in home loans and has access to a wider pool of lenders and loan options. They can help you understand the factors that impact your rate, pre-qualify you for a loan, and guide you through the application process. By taking advantage of their expertise, you may be able to secure a better rate than what is advertised.
When choosing a mortgage broker to work with, it’s important to find someone who is experienced and trustworthy. You can ask for recommendations from friends and family or search for someone with positive reviews through Google. It’s also a good idea to compare quotes from multiple professionals to find the best deal.
Take Action
So, if you’re looking for a way to potentially get a better rate on your home loan, consider working with us at AA Finance Solutions, we are professionals who specialize in home loans. By improving your financial factors and taking advantage of our expertise, you may be able to get a lower rate than what is advertised and save money on your mortgage.
Our boutique mortgage broking business provides one of the best services within the State of WA and has been a finalist with AFG multiple times over the years and a winner in 2020 for business lending.
