Home Loans

The perfect home starts with the perfect home loan.

With so many things to consider when applying for a home loan, it's important to have the right expertise to guide you. Finance Brokers Tasmania has been helping Tasmanians finance their property dreams for more than 35 years.

With thousands of competitive home loans from many different lenders available, using a mortgage broker for your loan allows you options and doesn't pigeonhole you with one provider. We take the stress out of finding the right home loan, offer you a choice and take an individual approach, ensuring that each loan is tailored to your specific requirements.

Let us do all the hard work for you. So get started today and book a free appointment with our mortgage broker experts.

Whether you're looking to purchase your first home, add to your investment portfolio, upgrade, or even downsize, it's essential to consider all your options.

Once you have found your dream home, there is still a lot to consider. By speaking with one our our mortgage brokers, we can discuss what is important to you in a home loan and find you an option to suit. You might be looking for a fixed or variable rate or combination of the two. A loan with redraw might be important or you might just want a loan with the cheapest interest rate that you can pay off as quickly as possible.

Did you know that your credit rating is affected each time you unsuccessfully apply for a home loan? Our finance brokers look at all available loans in the market and offer honest advice to suit your circumstances, ensuring that you get the right loan without affecting your credit score.

We consistently stay up to date with all government grants available and ensure that you maximise your borrowing capacity and have a great experience while doing so. Our service doesn't stop once you've received your loan; we know that rates are constantly changing. That's why we audit your loan every 12-24 months to ensure that you're still receiving the great deal we helped you achieve in the first place.

Buying a home should be an exciting chapter of your life. Make it even easier by letting us do all the hard work for you.

First home buyers tasmania
Finance Brokers Tasmania - obtaining home loan with student debt

Home Loan Costs

It always pays to check the costs when comparing home loans so you know exactly how much the loan is going to cost you. Credit providers must provide you with information about all charges before you sign the contract. Different lenders will have different costs and the same charge may just have a different name. At Finance Brokers of Tasmania we review all the best loans and compare the total cost for you. Below are some of the costs we take into account when helping you find the best available deal.

Establishment Costs

also called application, up-front, start-up or set-up costs. One off payment at the start of your loan.

Ongoing Costs

also called service or admin costs. Charged monthly or annually for administering your loan.

Lenders Mortgage Insurance (LMI)

Not exactly a fee but a type of insurance that financiers take out to cover themselves against borrowers defaulting on their loan repayments. Typically only payable if your loan to value ratio (LTV) is over 80%.

Fixed Rate Break Costs

may be charged if you break your fixed rate mortgage. Typically payable if interest rates have gone down since the establishment of your loan.

Early Exit Costs

also called early termination, deferred establishment, deferred application or early discharge costs. You may attract these fees if you pay your loan out in full within a certain time period. The fees can only be charged on loans written before July 2011 as exit fees are now banned on new loans. If the fee is charged it must be limited to recovery of a the providers loss.

Home Loan Features

As we have discussed, your home loan interest rate isn’t the only thing to consider when you begin your home loan search. There are many features that can not only make your life easier but that can also save you money. The main features to look out for are:

Extra Repayments

The ability to pay more than the minimum repayment without being penalised.

Redraw Facility

A redraw facility allows you to withdraw from the equity you have built by paying your loan down.

Offset Account

A bank account that is linked to your home loan facility which is ‘offset’ against the home loan principal, in turn reducing the interest payable.

Interest Only Loan

Your payments only pay off the interest and not the principal. This will keep your repayments lower but will not reduce the principal amount owing.

Repayment Holiday

A period where you can take a break from your home loan repayments. Can be helpful if things get tight or if something unforeseen occurs.

Portability

You can change houses without the need to change loan facilities.

Line of Credit

A line of credit works just like an overdraft account as a revolving loan facility that once setup can accessed whenever you want – either in full or stage by stage.

Finance Brokers Tasmania - making loan repayments
I can't recommend their service and communication enough. With the help of Finance Brokers of Tasmania I will be paying off my loan so much quicker and saving so much money.
- Jane Doe
I have recently built my first home and I can not recommend FBT highly enough, they made the mortgage process so smooth and easy. Thank you again Lance, Rebecca and the whole FTB team I wouldn’t have my new home without you.

Ready to book an appointment?

We're a friendly bunch at Finance Brokers Tasmania, and we love chatting to clients - potential, new, and existing. We'd love to help you - so please contact us today for your tailored finance solution!