Do you need a Broker for a Housing Loan? - Know how Mortgage brokers help

Do you need a Broker for a Housing Loan? – Know how Mortgage brokers help

16 MARCH 2021

First home buyers always have challenges when it comes to buying a house with a very limited exposure to the process, approaching a housing loan Singapore broker to guide through the steps for a housing loan is one of the most preferred ways to stay hassle free from the application process. Yours Advisory helps with the housing loan process and guides you through the steps, provides financial advice and guides you through the right path.

How will my housing loan broker help?

All the answers to my query for a housing loan in Singapore are answered in Google, why would I need a housing loan Singapore broker to guide me for this? Although many have this question in mind when searching for a mortgage broker the answer is yes you can get your queries clarified in Google, but how authentic is it, are the answers really up to date with the latest changes in policy. Your queries can be answered clearly by a housing loan broker rather than Google.

Mortgage Loan Singapore Broker helps to first do a financial check which is the first step in applying for a housing loan. Your chances of getting a loan approved is high through a broker as they always advise on your credit score and your income. Also the home loan broker understands how the banks or the lenders assess your application and helps to provide you with clear instructions on how to apply and get your loan approved.

What are the factors considered?

Your housing loan broker will guide you through the following factors to get your home loan approved

Credibility

Be it a bank or any other lending institution, the first and foremost factor that is reviewed is the credibility of the borrower. The ideal level of your credit score increases your chances of getting a loan. Your mortgage loan broker helps to advise on these financial obligations for your lender to view you as a good applicant.

Income

Your income stability is the second most important factor when you apply for a home loan. Normally, the lenders will see how stable is your income and how long you have been employed. A minimum of 6 months in a current position of employment is a basic factor to be considered. This criteria varies for self employed or part time workers. Speak to one of our advisors now to get personalised advice on the options available.

Application

The application process is smooth for an application which is without mistakes, your housing loan Singapore broker helps to guide you through the application process and ensures the details are filled in correctly for a faster processing.

Home loan brokers work with multiple lenders, naturally they have access to various loans/products, price, eventually you can compare multiple loan programs when you go to a broker. The brokers will let you know the options, interest rates available for your financial needs. However if you want to apply to direct lenders, you need to apply to all of them and compare it on your own which is time consuming and tedious. Approaching a home loan broker is an ideal choice for any professionals who wish to save time and be guided appropriately.

Getting a housing loan is easy, but deciding on the best lenders and finding the right option for you is indeed difficult as an individual, here is where your home loan Singapore broker plays a major role. Your advisory financial advisors have ample experiences in guiding individuals to the perfect lenders for the home loan based on your financial commitments.