Welcome to Wide Bay Home Loans,
Your Local Home & Investment Lending Specialists.
From Bush Blocks – to – Beach Front Dream Homes, we’ve got your finance needs covered!
Home Loans, Bay Wide.
Let’s make your property goals a reality!
At Wide Bay Home Loans we have a nil BS approach – whether you are purchasing your first home, upgrading to a larger property, refinancing for a better deal or to access some cash for reno’s, building your dream home, or expanding your investment portfolio because you’re a soon to be property mogul and a genuine boss, Jason & his team will help you secure the right loan, at the lowest possible rate.
We are more than just your average mortgage brokers – we’re your neighbour, your friend, and your trusted guide on your property journey… A little bit like Mick Dundee, from the original Crocodile Dundee movie, just with home loans instead of the Croc’s.
Based in Bargara, WBHL are proudly local & service all area's throughout the Bay including Bundaberg, Hervey Bay, Maryborough & beyond.
We combine over two decades of finance experience with a friendly, down-to-earth service, making your home loan process simple, stress-free, and frigging exciting!
Our mission is simple: Provide homes loans without all the fuss! We put ourselves in your shoes and guarantee a smooth process from-go-to-whoa! Hassle free funding.
Let’s make your property goals a reality – From the Cane fields – to – the Coast, we’ve got you covered!
Why Choose WBHL?
- Bargara based, we are local!
- We care about you and your goals.
- We want to save you time + as much money as possible.
- We speak bank so you don’t have to.
- We are here to help.
- We get it done!
Did you Know?
Wide Bay was the name given by the early Captain James Cook after noticing a coastal indentation whilst he was sailing past Double Island Point.
As the Port of Maryborough developed during the 19th century Wide Bay became well known as ships passed through the area before entering the Great Sandy Strait.
What do we do?
Investment Loans
Looking to grow your property portfolio and become a property tycoon? We can help with that. We can can look at multiple strategies & options pending on what you want to do, & your long term
goals. Having investments enable you to build equity owner time & will create a passive income into retirement – who doesn’t want that?
Refinancing
Got a crappy deal at the moment with your current bank? We can help potentially save you thousands by refinancing and taking advantage of better rates or lower fees. Needing some extra cheese & not sure how to get it – We might be able to pull out some cash and access equity in your home for those much needed renovations OR potentially that new car, boat or caravan.
What We Provide?
Our frequently asked questions
What factors should I consider when deciding how much I can afford to borrow for a home loan?
When determining your borrowing capacity, consider factors such as your income, expenses, existing debts, credit history, down payment amount, and the interest rate. It’s essential to ensure that your mortgage repayments are manageable within your budget to avoid financial strain. We can usually calculate your borrowing capacity quite quickly here at Wide Bay Home Loans having via very reliable serviceability calculators.
What documents do I need to provide when applying for a home loan?
Common documents required for a home loan application include proof of income (such as 2 x most recent pay slips, latest financial year’s income statement, or tax returns), identification documents (such as driver’s license or passport), bank statements, proof of assets, and details of existing debts and liabilities.
What is the difference between a fixed-rate and variable-rate home loan?
A fixed-rate home loan has an interest rate that remains constant for a set period, providing borrowers with predictability and stability in their repayments. In contrast, a variable-rate home loan has an interest rate that can fluctuate over time based on market conditions, potentially resulting in changes to your monthly repayments.
How much deposit do I need to buy a property?
The deposit required to purchase a property typically ranges from 5% to 20% of the property’s purchase price, depending on factors such as the lender’s requirements, loan-to-value ratio, and whether you qualify for government schemes or incentives. When factoring in purchase costs on top of this minimum 5% noted, as a general rule of thumb we state around 13% of any purchase price is required as the minimum deposit without any reliance on Government Grants.
If you have parents or family that can put up additional security & go as a guarantor on your loan (i.e. a security guarantee), then in theory you may get away with not holding a deposit at all – some banks will lend you up to 105% of the purchase price. Speak to us at Wide Bay Home Loans about his further as guarantor lending can be a little complex and hard to understand. There are implications for the guarantor that also need to be discussed separately to the borrower.
What is mortgage pre-approval, and why is it important?
A pre-approval is a conditional approval from a lender indicating the amount you may be eligible to borrow for a home loan, based on your financial situation and creditworthiness. Pre-approval gives you a clear idea of your budget when house hunting and shows sellers that you are a serious buyer.
What additional costs should I budget for when buying a property?
In addition to the purchase price, budget for additional costs such as stamp duty, legal fees, conveyancing costs, property inspection fees, loan application fees, lender’s mortgage insurance (if applicable), and ongoing costs such as property taxes, homeowners insurance, and maintenance expenses. We can give you an indication of what you would be paying on most of these costs after a quick discussion.
How do I compare different home loan options?
When comparing home loan options, consider factors such as interest rates, loan features (such as offset accounts or redraw facilities), repayment terms, fees and charges, flexibility, customer service, and the lender’s reputation and reliability. As mortgage brokers we will help you with this and recommended the best 3 x suited options towards your needs in all instances. It is important to also check the comparison rate of any loan as this is the true rate of the loan over time, inclusive of any upfront OR ongoing fees.
What is lender's mortgage insurance (LMI), and when is it required?
Lender’s mortgage insurance (LMI) is insurance that protects the lender in case the borrower defaults on the loan and the property is sold for less than the outstanding loan balance. LMI is typically required when the borrower’s deposit is less than 20% of the property’s purchase price.
How long does it take to get approved for a home loan?
The time it takes to get approved for a home loan can vary depending on factors such as the lender’s processing times, the complexity of your application, and the completeness of your documentation. Generally, it can take anywhere from a few days to a few weeks to receive approval. We will give you an idea on time frame once a we’ve completed an initial assessment of your situation and noted down your requirements.
Why should I consider using a mortgage broker to help me find a home loan when I can go straight to a bank?
Mortgage brokers provide valuable assistance in navigating the home loan process by helping you compare loan options, negotiate with lenders, and complete the application paperwork. Brokerages such as Wide Bay Home Loans, should be reputable and experienced (always check reviews), and they should always have your best interests in mind. Over 75% of all home and investment loans in Australia (that’s 3 out of 4 loans) now are completed through Mortgage Brokers.
