Buying a home is one of the most exciting life events we experience, but it can also be one of the most confusing. Once you have found your dream home, the next step is to obtain a home loan, which means talking to a recommended mortgage broker. However, before signing any paperwork, here are 5 questions to ask a mortgage broker to help ensure that you get the right type of loan with terms and conditions that you can live with.

Before you consider getting a home loan, you should calculate the costs so you can compare rates and find out approximately what you will be paying back every month. The best Sydney mortgage brokers and finance brokers offer calculators on their websites so you can do just that. Some calculators you may find on these websites include those that calculate loan repayments, savings, comparison rates, stamp duty, and a borrowing power calculator.

Many people are often confused about whether they should have a fixed or variable interest rate for their home loan.

And this is really no easy answer. It depends on a number of different factors including your individual situation, and there are obviously risks, pros and cons for each option.

And that’s where speaking to the right home loan mortgage experts always helps