Parenting is a juggling act, isn’t it? One hand’s fending off stray LEGO bricks while the other’s stirring some version of dinner. Now imagine throwing finding a home loan into the mix – it’s enough to make anyone want to crawl back under the doona!
But here’s a little insight. When you’re searching for childcare, you don’t settle for the first place you find. You compare, research, and probably use handy tools like the childcare subsidy calculator on Care for Kids (you do, right?!) Why? Because what works for the Smiths down the street might not suit your family’s needs. The same level of care should apply when choosing a home loan – enter your local Mortgage Choice broker.
Why Comparing Matters
Visiting a bank for a home loan is a bit like walking into an ice cream shop that only serves two flavours, say chocolate and vanilla. Having a broker in your corner is like discovering a full gelato buffet, with every flavour imaginable from lots of different chefs.
While your bank can offer you a couple of home loans, a broker can access thousands of loan products from a panel of different lenders. Whether you’re self-employed, taking parental leave, or managing on a single income, brokers have the scope and expertise to match a loan to your unique lifestyle.
And here’s the best part, while you’re busy juggling life, your broker handles all the stuff you don’t have time for. Research? Covered. Paperwork? Sorted. Negotiations? Done. They’re essentially your personal financial wing-person.
Loans and Childcare Decisions Are More Alike Than You Think
Remember how seriously you took the childcare hunt? Reading reviews, comparing programs, ensuring fees fit the budget? That kind of dedication isn’t just a parenting win, it’s smart decision-making.
Mortgage Choice brokers bring this level of care to your financial life. They’re like the Care for Kids platform but for home loans. They talk to you to understand your goals and then sift through options, flag hidden costs, and curate choices based on your current circumstances. On maternity leave and looking for lenders who offer flexibility? They’ve got that covered. Saving every spare cent for those childcare fees? They’ll work to find the rate that fits your budget.
Whether you’re searching for a mortgage or the perfect eco-friendly, nap-friendly childcare, it’s all about finding the right fit.
Why You Should Start Comparing Now
Still wondering if comparing home loans is worth it? Here’s a little food for thought. Say you have a $500,000 loan at a 6% interest rate over a 30-year loan term. If your broker secures you a lower rate of say, 5.5%, that’s a monthly saving of around $158. Over one year, that equates to an extra $1,896 in your pocket, and over the 30-year loan term, those savings add up to around $56,880*. These massive savings could be put towards your dream backyard renos, your kid’s education fund, or that big Disney dream trip.
And if it’s been a few years since you took out your mortgage - it may be time to refinance. With the help of a broker, you could access more competitive interest rates or features that reflect where you are right now. Just like switching childcare centres when your child’s needs are no longer being met , your mortgage deserves regular reviews.
The Broker Difference
If you’re imagining some hidden cost for all this work, don’t panic. Mortgage Choice brokers are paid by the lender once your loan settles, and while a fee might apply in limited circumstances your broker will disclose upfront if so), most families enjoy all these benefits without any additional costs. Think, high-end concierge service, minus the hefty bill.
The Final Scoop
Not comparing loans is like choosing the first childcare centre you see simply because it’s convenient. Sure, it might work. But do you want to leave such a huge decision to chance?
A Mortgage Choice broker makes finding a mortgage easy and stress-free. They have the knowledge, product set and tools to ensure you find a loan that’s the right fit for your family, whether you’re budgeting for childcare or dreaming of a bigger backyard. And the best part? They handle the heavy lifting while you focus on being your family’s superhero.
If finding the right childcare gave you peace of mind, imagine what nailing the perfect mortgage could do for your family’s future. Skip the guesswork. Start comparing today and watch how it pays off.
Download the Family Financial Checklist to help you prepare for those big financial decisions ahead.
*These figures are for illustrative purposes only. Interest rates, fees and charges change over the life of a loan and will effect the savings outcome.
Mortgage Choice Pty Limited (ABN 57 009 161 979, Australian Credit Licence 382869) and Smartline Operations Pty Limited (ABN 86 086 467 727 Australian Credit Licence 385325) are owned by REA Group Limited.
