Home Loan Brokers in Shepparton

Choosing From More Home Loan Lenders in Shepparton

Your local bank branch is one option. We give you several more. Our panel of lenders takes in major banks along with regional banks, mutual banks, credit unions and non-bank lenders.

Why does that matter? Every lender sets its own rules on things like casual income, deposit size, rural properties and investment lending. One lender's "no" can be another's "yes", and fees and features differ widely too. More choice means a better chance of finding a lender whose policies work in your favour.

What We Look at When Comparing Loans

A low headline rate can hide high fees or missing features. So we weigh up setup and ongoing costs, the comparison rate (a single figure that rolls the interest rate and most fees together), lender policy and how quickly each lender is turning applications around. You'll get a clear shortlist with the pros and cons of each option, so the final call is yours.

Choosing Your Loan Features

• Variable rate: Moves up or down with the market and usually allows unlimited extra repayments.
• Fixed rate: Holds your rate steady for an agreed term, commonly one to five years. Extra repayments may be capped, and break costs can apply if you exit early.
• Split loan: Divides your borrowing into a fixed portion and a variable portion.
• Offset account: An everyday account linked to your loan. Every dollar sitting in it reduces the balance that interest is calculated on.
• Redraw: Lets you withdraw any extra repayments you've already put into the loan.

The right mix depends on how you earn, save and spend, and we'll help you find it.

Working Out Your Borrowing Power

Lenders assess your income, regular expenses, current debts and deposit. They also check your LVR (loan-to-value ratio), which is your loan amount as a percentage of the property's value. Since each lender runs its own calculations, the figure you're offered can change from one to the next. Getting pre-approved gives you a working budget before you make an offer.

Lending for the Self-Employed and Business Owners

Sole traders, contractors and company directors often find banks cautious about fluctuating income. As trusted finance brokers, GV Finance Brokers know which lenders read business financials well. Most will want one year of tax returns and financial statements, while some accept BAS statements or an accountant's letter. These alternative options can carry different costs, so we'll walk you through them.

Refinancing and Debt consolidation

As in life, circumstances are always changing. New job, you have a Family now, need a new car or anything else that life may pass your way.  

A credit card or two, personal loans, and bills start to make your monthly commitments tight to manage the budget.

Maybe you would just like a better rate?

Whatever the reason, it may be time to review your home finances.

Refinancing a mortgage can be a difficult choice. With Fees, Fixed vs Variable rates to consider and change over costs. Choosing correctly can help you pay off your mortgage faster and for less, clear that debt holding you back or help you upgrade and add value to your home, all of which are steps in the right direction.

Investment purchases

Moving towards an investment property is an opportunity many Australians take in their next real estate purchase.  In Australia, bricks and mortar is still considered to be a sound investment due to steady and consistent increases over time.

Choosing the right finance and structuring can be crucial to maximising your return and utilising the cash and equity you may have.  Considering all your options is important in making this decision.

This is why we go over all your options carefully, so you can make an informed decision on that next step. 

Refinancing

Most people spend weeks choosing a home loan, then rarely look at it again. A refinancing review is worth considering if your fixed term is about to roll onto a revert rate, you haven’t compared your loan in one year or more, you’re missing features like an offset account, or your circumstances or property value have changed.

Switching isn’t free, so the costs need to stack up. These may include a discharge fee from your current lender, break costs on fixed loans, new loan setup and valuation fees, government registration fees, and Lenders Mortgage Insurance (LMI) if you borrow more than about 80% of your property’s value. Extending your loan term can also lower repayments while increasing total interest.

If a switch makes sense, we compare lenders, lodge your application and coordinate settlement, where your new lender pays out the old loan. Sometimes, though, a request to your current lender for a repricing is all that’s needed.

Construction Loans for New Builds

Building a home takes a different kind of loan. We arrange construction finance for house-and-land packages, custom builds and knock-down rebuilds, including in growth areas such as Kialla, Mooroopna, Mickleham and Wallan.

Instead of a lump sum, funds are released as progress payments (funds released in stages as your home is built): deposit, base, frame, lock-up, fixing and completion. Interest is charged only on what’s been drawn, and many lenders set the loan as interest-only during the build. Before approval, the lender values your home “as if complete”, based on your plans and contract. If that valuation falls short of your total land and build cost, you’ll need to cover the gap.

The most common pitfall is cost variations: mid-build changes, provisional sums that run over, or unexpected site costs. Lenders usually require you to fund these yourself, so we recommend building a buffer into your budget. We coordinate each claim with your builder and lender through to handover.

Bridging Loans: Buying Before You Sell

Found your next home before selling? A bridging loan covers the overlap. Peak debt is the most you’ll owe: your existing loan plus the new purchase and costs. The bridging period is how long you have to sell, often around six months, or up to 12 months if building. End debt is what remains once your old home sells. A closed bridging loan applies when your sale is already contracted, while an open one applies when it isn’t, and these are assessed more conservatively.

Example only, using round figures and excluding costs and interest: a home worth $500,000 with $200,000 owing, plus a new purchase of $700,000, gives a peak debt of $900,000. After selling for $500,000, the end debt is $400,000.

The main risks are a slower or lower sale, with interest building up on a larger balance in the meantime. If the bridging period ends unsold, the lender may require full repayments or other action. Realistic pricing from a local agent matters.

Consolidating Debts Into Your Home Loan

Credit cards, car loans and personal loans build up for all sorts of ordinary reasons. If you own your home, consolidating them into your mortgage can leave you with one loan and one repayment, often at a lower rate than credit cards or personal loans. Lenders look at your equity (ideally keeping your total loan within about 80% of the property’s value), your credit history and whether you can comfortably afford the new repayment.

Important: Consolidating short-term debts into your home loan can increase the total interest you pay, because they’re spread over a much longer term. Your home also becomes security for what was unsecured debt. Keeping repayments at your old combined level and closing unused cards can help. We’ll have an honest, judgement-free conversation and compare alternatives, including a personal loan. If you’re in serious hardship, the free National Debt Helpline (1800 007 007) can also help.

Home Loan Cash Out and Equity Release

Equity is your property’s value minus what you owe. Usable equity is what lenders will typically let you borrow against, usually up to 80% of the value minus your loan. For example only: a $600,000 home with $300,000 owing has about $180,000 in usable equity, subject to income and lender assessment.

Common purposes include renovations, an investment property deposit, a vehicle, education or major life events. Lenders will ask for evidence, such as quotes, contracts or invoices, and some limit the amount released without it. Business owners can sometimes release equity for working capital or equipment, though not every lender accepts business purposes, and your home becomes security for that debt. A larger loan also means higher repayments and more interest over time, so speak with your accountant about tax and structure.

Getting Your Paperwork Ready

Gather your photo ID, payslips or tax returns, three months of transaction statements, details of any loans or credit cards, and proof of where your deposit came from. We'll confirm anything else your lender requires.

Your Loan, Checked Every Year

Rates and lender offers shift, and so do your circumstances. That's why we sit down with your loan each year and hand-check how it compares. If it's fallen behind, we'll look at whether refinancing is worth considering.

Start Your Home Loan With a Local Broker

Ready to take the next step? Book a time that suits you, in our office or online. Buying for the first time? Read our first home buyer guidance. Planning to build? See how construction loans work.

Book an Appointment Call 1300 881 579