Home Loan information and resources

Home Loan information and resources

Sit back and relax. Let us do all the hard work! Finding the right home loan lender and putting together a successful loan application is a complex process, but it’s a whole lot easier with Express Mortgage Market. Our professional credit advisers will guide you from start to finish, and best of all it’s a FREE service.
Home Loan Information – Application Process

Although each loan transaction is unique, most applications for mortgage finance involve seven clear steps to completion. Here is a flow chart that demonstrates the process for a typical Australian mortgage transaction: Make your initial loan enquiry online via our website, social media, or by phone
‘Fact Find’ interview with your Express Mortgage Market broker, online or in person. Express Mortgage Market submits your application to the lender of your choice The lender issues pre-approval to Express Mortgage Market OR asks for more information The lender values the security property (or properties)
The lender issues Unconditional Approval to Express Mortgage Market You sign your loan agreement and obtain legal or financial advice where appropriate Loan ‘settlement occurs’: you obtain access to the funds at the same time the lenders’ mortgage over your security property becomes active

Buying a house can be an expensive exercise, so now is a good time to start thinking about the different costs that may arise. The good news is that any fees charged by your lender are often quite modest compared with the government charges.

In any case, your local express Mortgage Market adviser can give you an accurate estimate of your total likely costs, and show you how to minimise those charged by the lenders. Here are some of the major costs to consider:

Lender fess:- Application Fee
Valuation Fee
Lender’s Mortgage Insurance Premium (for loans greater than 80% loan-to-value ratio)

Government charges

Stamp duty on the purchase (may not apply for first home buyers)

Stamp duty on the mortgage (in some states)
Stamp duty on the Lender’s Mortgage Insurance (if loan is greater than 80% of property value)
Mortgage registration