4 Things That May Decide Your Mortgage Rate

Published by FinanceMax – Trusted Mortgage Brokers in Australia

When applying for a home loan, several important factors can influence the mortgage rate you receive. Understanding these key elements will help you make better decisions and get the most competitive rates possible.

1. Credit Score

Your credit score is a reflection of your creditworthiness. Lenders use it to assess how risky it is to lend you money. A higher credit score often results in lower mortgage rates.

2. Loan to Value Ratio (LVR)

The LVR is the percentage of the property’s value you are borrowing. A lower LVR means you have a bigger deposit and can usually secure better interest rates.

3. Interest Rate Type

Choosing between fixed or variable interest rates impacts your mortgage payments and flexibility. Fixed rates offer predictable payments, while variable rates may fluctuate.

4. Loan Type and Purpose

Different loan types (owner-occupied, investment, construction) and loan purposes affect the rates offered by lenders. Investment loans typically carry higher rates than owner-occupied loans.

How FinanceMax Can Help You Secure the Best Mortgage Rate

At FinanceMax, we guide you through these critical factors to help you get a mortgage that fits your needs and budget. Our experienced brokers work with over 40 lenders to find the most competitive rates and suitable loan products.

📱 Contact FinanceMax Today
0425 452 069 | 0430 088 133
🌐 Visit: www.financemax.com.au

Credit Representative Numbers 564345 and 564346 are authorised under Australian Credit Licence 412778.
This post provides general information only and does not constitute personal financial advice. Please consider your individual circumstances before making financial decisions.