Tag Archives: Mortgage brokers in Melbourne

When thinking about purchasing a property, whether it is your first or fifth time, a mortgage calculator is one of the most important tools you can have to hand.

Mortgage brokers use these tools to calculate loan amounts, interest rates offered by each lender and the length of the loan term. Once you have all of the information, it will calculate exactly how many your repayments will be monthly, annually and throughout the entire term of your loan.

You should also take into account if your fixed rate changes during your mortgage term, this will need to also be calculated as rates and payments may change and you don’t want to be left in the dark.

Another benefit of using the mortgage calculator is to compare lenders rates. Say you are offered an interest rate of 4% from one lender but 3.8% from a second and 3.75% from a third, you can calculate how much of a saving you can make over your complete loan term with just a few easy steps.

The mortgage calculator, in effect, becomes your price comparison website – where you can compare mortgage terms and interest rates from the comfort of your own home. You will be able to see which lender is the most affordable for you and how much money they can save you per month or annually.

For example: A required mortgage of $500,000 over 25 years at a 4% interest rate with one lender equals a monthly repayment of $2,667.16. Now compare the same terms with an interest rate of 3.75% and your monthly repayments reduce to $2,597.15. A saving of $ 70.01 per month, $840.12 per year and a huge $21,003.00 during the entire 25-year term! All from changing the figure on the mortgage calculator which takes about one second. It has now saved you over $21,000.00. Think of the holiday of a lifetime or home improvements you could make with that extra bonus!

Many underestimate the power of the mortgage calculator – while it may not answer all your in-depth questions like your mortgage broker can, it certainly allows you to keep an eye on your money from the very beginning. You will end up going into the mortgage with factual information, knowing exactly how much you can afford to spend each month. This information will allow you to budget for other household bills, such as utilities, taxes, groceries and credit cards.

Obviously as your loan term continues, you may need to refinance or your terms may change - you may even decide to change lenders half way through. This cannot be taken into account with a calculator, a mortgage broker can navigate you through these areas, but it does get you off to a good, solid start.

Mortgage Calculator

Some mortgage calculators also calculate the differences between principle and interest only mortgages and repayment figures; this is a helpful tool as well, giving you greater insight into the difference in monthly and annual payments. With principle and interest only payments bear in mind there will be a final balance to pay when your term completes.

If you need some assistance working out long term mortgage payments, mortgage broker Melbourne can help. You can contact them via http://themortgagereports.com/20857/mortgage-calculator-find-your-home-price

Mortgage brokers in Melbourne have been using Direct Mail Marketing campaigns for some time; it continues to be an integral part of the business model. There are many advantages to this, as well as being less time consuming for the mortgage broker – it is also of immense benefit to the customer. The first benefit for mortgage brokers is the opportunity to promote their services before the customer has made any decisions as to who they will use to facilitate their mortgage solution.

Once the mortgage broker has established contact and begun to build rapport with the client, they can pre-qualify the customer for a loan and begin to explain to detail any lending specific lending options which would benefit the customer. For the customer this is a fail-safe way to find out if a loan would be approved and who has the best rates and terms, without the need to visit many different lenders.

The success of mortgage direct mail marketing will depend on choosing the target audience and strategy carefully. What do you hope to achieve from your marketing campaign? What are your goals? How do you make your company stand out in the crowd?

If your organization offers a specific service in your area that nobody else does – highlight this, chances are the customer will notice too.

Customers prefer mail which is directly related to a specific subject of interest; if direct marketing is actioned in the correct way they are more likely to respond. Mortgage brokers who write honest and informative articles detailing the benefits of their company, how the process works and perhaps even a subject study, will go down well in a potential client’s eyes. With direct mail marketing, the more targeted and honest it is, the more chance of success for everyone.

If the information helps to put a customer’s mind at rest, it can open lines of communication between you, especially if the customer has questions following the reading of your marketing campaign. Making direct marketing campaigns engaging, personable and open is the key to creating a lasting business relationship.

Mortgage brokers can use a customer database to create inquiries, these could stem from homeowners who are looking to move, or perhaps tenants renting property who would benefit from direct marketing to establish whether they will be seeking to purchase property in the future.

Mortgage Direct Mail

Partner up with estate agents and property developers with interests in investment portfolios and commercial properties and begin to create a new database from there. There is no denying that it is a whole lot easier for mortgage brokers and customers to make decisions when they are armed with all of the information. A well thought out direct mail marketing campaign can alleviate weeks or months of stress, and the mortgage brokers are one step closer to helping their new customer achieve their dream. There are many ways to create a marketing campaign from effective mailing, newsletters, brochures to emails.

Take a look at website http://www.bankrate.com/financing/mortgages/mortgage-rates-for-friday-june-10/ for further information on unique services they can offer customers.