Does Dubbo Mortgage Brokers handle more than just Home Loans?
Absolutely! While Home Loans (First Home Buyer, Refinancing, Construction, and Investment) are core to our service, Dubbo Mortgage Brokers handles much more than just mortgages. We act as a complete finance solution for our clients. We offer in-house access or managed referrals for Car Loans, Personal Loans, Commercial Property Loans, Business Loans, Asset Finance (equipment), and SMSF Loans. We are here to support your full financial picture, not just your mortgage needs.
How do you get paid, and will your service cost me anything?
For residential home loans (First Home Buyer, Refinancing, Construction, and Investment Loans), our service is at no cost to you. We are paid a commission directly by the lender once your loan settles. The home loan product, interest rate, charges, and loan documents you get through us are exactly the same as if you went directly to the lender. There are no hidden costs or extra charges for using a broker. For non-residential finance (Personal, Car, Asset, and Business Loans), we manage these through trusted in-house referral partners, who will fully disclose any fees or commission structures to you upfront before you commit.
How much deposit do I actually need to buy a home?
The ideal deposit is 20% of the property value, as this helps you avoid paying Lenders Mortgage Insurance (LMI). However, many lenders accept smaller deposits, and in some cases (such as certain guarantor loans or government schemes) they lend up to 98% of the property value. We will assess your specific financial situation and help you explore all options, from a low deposit to avoiding LMI altogether.
What about the Government's 5% Deposit Scheme for First Home Buyers?
The First Home Guarantee (FHG) is a vital program that lets eligible buyers purchase with just a 5% deposit and avoid LMI. Crucially, the scheme has removed income caps, meaning your income no longer restricts access. For the Dubbo area, the maximum purchase price limit under this scheme is $800,000. We specialise in checking your eligibility and submitting your application to secure one of these places.
How much can I borrow, and how is my borrowing power calculated?
Your borrowing power is not just based on your income. Lenders use a complex assessment that considers your total income, existing debts (like credit card limits and car loans), living expenses, employment stability, and whether you have dependents. We conduct a detailed, thorough assessment across all our panel lenders to calculate your true borrowing capacity and determine how much you can comfortably afford to repay.
Could you still help me with my finances if I'm not in Dubbo or the Central West?
Yes, absolutely! While we specialise in supporting the Dubbo and Central West NSW community and have local knowledge that benefits clients here, we have clients all over Australia. Our systems are built on a 100% digital platform, allowing us to conduct all consultations virtually (via phone and video calls) and handle electronic applications, so we can effectively service your financial needs from anywhere in Australia.
What about using AI for financial research?
AI is a great research tool, but the answers it provides can vary significantly depending on the service and the data it accesses. It's always best to use these tools as a guide only. Financial decisions, especially those involving large loans, are complex and require verification. We strongly recommend you always talk to either your Bank or Broker to confirm any information you receive and ensure it applies specifically to your personal financial situation and goals.
