ScaleMortgage FAQ
What is ScaleMortgage?
ScaleMortgage stands out as Australia’s leading mortgage brokerage, focusing on delivering customised mortgage solutions for homeowners and investors. Our team is committed to providing exceptional refinancing options and tailored credit assistance, ensuring our services are perfectly aligned with our clients’ unique needs.
How does it differ from other mortgage brokers?
ScaleMortgage uses technology to make applying for a mortgage easier. They offer different loan options and support throughout the process to give clients the best service and rates.
Why should I use ScaleMortgage?
Choosing ScaleMortgage gives you expert advice, personalised mortgage options, and a simple application process. We provide easy-to-understand details, our best home loan rates, and help with financing or refinancing your home loan or investment property in Australia.
Which areas of Australia does ScaleMortgage serve?
ScaleMortgage helps clients all over Australia with remote and digital services. Homeowners and investors in any location can get high-quality mortgage broking solutions without worrying about where they live.
How can ScaleMortgage help me find the best mortgage deal?
ScaleMortgage can help you find the right mortgage by looking at your finances, property goals, and market conditions. We work with many lenders to offer you competitive rates and terms that match your financial goals.
How safe is ScaleMortgage to use?
ScaleMortgage is highly safe to use. We prioritise the security and privacy of our clients’ information by implementing industry-leading security measures. We’re committed to protect your personal and financial information during and after your mortgage application. We follow strict data protection standards to ensure your information is safe.
How safe is ScaleMortgage to use?
ScaleMortgage offers highly competitive rates by negotiating with a vast network of lenders. Our goal is to provide you with the best possible rates and terms that suit your financial needs, ensuring affordability and value in your mortgage solution.
How do I reach ScaleMortgage customer service?
You can contact ScaleMortgage via any of the below options:
Request A Callback: www.scalemortgage.com.au/contact-us
Call Us: (08) 6119 8189
Email Us: [email protected]
How ScaleMortgage Works
How does ScaleMortgage work?
ScaleMortgage simplifies the mortgage process by doing all the work for you. We analyse your finances, understand your property goals, and identifying suitable loan options from our lenders. We take a personalised approach to ensure you find the right loan for your needs. We are here to help you with every step of the process. We guide you from application to closing, ensuring a smooth and efficient experience.
What kind of loans can I get with ScaleMortgage?
ScaleMortgage provides various loan options to meet the needs of homeowners and investors. These options include owner occupied home loans, investment loans, and refinancing loans. Each type of loan serves a different purpose and offers unique benefits. Homeowners and investors can choose the loan that best fits their financial goals and circumstances.
Who can use ScaleMortgage?
ScaleMortgage offers services for new homebuyers and experienced investors in Australia. We provide customised solutions based on each client’s financial situation and property goals. For those located in Perth, they can opt for face to face consultation.
What kind of homes can I use ScaleMortgage to get a loan for?
ScaleMortgage can assist you in getting loans for different types of properties like homes, apartments, and investment properties. They cater to a variety of housing needs and investment plans.
Will I have to talk to anyone if I apply online?
You can complete most of the application online using ScaleMortgage. Our team is available to provide advice and answers to ensure a smooth process. At a minimum ScaleMortgage required 1 x face to face zoom session to verify your identification.
What are the requirements for getting a loan with ScaleMortgage?
Requirements include a stable income, a good credit history, and sufficient funds for a down payment. Specific requirements may vary based on the loan type and your financial situation. For those with challenging scenario we have various solutions available. If you have poor credit history or require a low deposit home loan, we work closely with you to find the right loan option.
What do I need to apply?
To apply, you need ID, income proof, financial statements, credit history, and property details for buying or refinancing.
How can I use ScaleMortgage to get a preapproval letter?
Submit an application with your financial details through ScaleMortgage. We’ll assess your eligibility and, if qualified, provide you with a pre approval letter indicating how much you can borrow.
What credit score do I need to get approved?
To get a mortgage, aim for a credit score of at least 620. The best rates generally go to those with scores of 720+. ScaleMortgage has speciifc lenders who cater for bad credit home loans.
What does it cost to get a loan with ScaleMortgage?
ScaleMortgage usually doesn’t charge fees for loans. ScaleMortgage typically does not charge fees for loans. However, there are instances where an upfront fee may apply. This fee will be outlined in a credit quote before any services are rendered.
What does it cost to get a loan with ScaleMortgage?
- In Australia, when you buy a property, you will need to pay closing costs. These costs can include stamp duty, legal fees, loan fees, and other fees.
- When you buy a property in Australia, you have to pay closing costs. These costs may include stamp duty, legal fees, loan fees, and other fees. The total
- amount can range from 2% to 5% of the property’s price. The exact percentage depends on where you live and the value of the property.
- Before purchasing a property, remember to consider inspection fees. Also, keep in mind Lender’s Mortgage Insurance if your loan exceeds 80% of the
- property value.
- You can use an online calculator or consult with a conveyancer for a more precise estimate in your specific area.
How will applying through ScaleMortgage affect my credit?
When you apply for a mortgage with ScaleMortgage, we will check your credit on behalf of the lender. This might cause a temporary decrease in your credit score. However, this is a standard part of the mortgage application process. This is a normal step in getting a mortgage.
How does ScaleMortgage do appraisals?
ScaleMortgage works with the chosen lender to get an accurate property valuation using their lender valuation systems for the loan application.
Why should I use a mortgage broker instead of going directly to a bank?
With ScaleMortgage, you gain access to 30+ Lenders, 1000s of Loans and a application process that makes everything as easy as possible. This has the potential to save you both time and money in comparison to approaching a traditional bank.
Process and Requirements
What is the process of obtaining a mortgage through ScaleMortgage?
The process involves initial consultation, application submission, financial assessment, property appraisal, loan matching, approval, and finally, closing. ScaleMortgage guides clients through each step, ensuring clarity and support throughout.
What does it cost to get a loan with ScaleMortgage?
You need to provide personal identification such as:
- ID: Driver’s license & Passport.
- Income & Expense history.
- Proof of Asset & Liabilities.
- Bank statements
- Credit report.
- Property/Security Details
You might need to give more papers based on your circumstances.
How long does the mortgage application process take with ScaleMortgage?
The timeline can vary but generally takes from a few weeks to a couple of months from application to closing. The exact duration depends on the complexity of your financial situation and the type of loan.
Does ScaleMortgage offer pre approval services? If so, how does the pre-approval process work?
Yes, ScaleMortgage can give you pre approval. You give them your financial details, and they give you a letter saying how much you can borrow. This helps you find homes that fit your budget.
Fees and Costs, What fees are associated with using ScaleMortgage’s services?
Fees like application, appraisal, and broker fees may apply to your loan. ScaleMortgage is transparent about costs, making sure clients know all fees upfront for different loan types.
Are there any hidden costs I should be aware of when working with ScaleMortgage?
ScaleMortgage is transparent and will explain all fees upfront. There are no hidden fees; all charges will be discussed during the initial consultation and application process.
How does ScaleMortgage get paid?
ScaleMortgage is paid through lender commission when the mortgage closes. This setup lets us concentrate on finding you the right mortgage. Under discretionary circumstances an upfront fee may be disclosed to the client via a credit quote prior to any credit assistance being provided.
Support and Advice
Can ScaleMortgage provide advice on choosing the right mortgage product for my needs?
ScaleMortgage provides personalised advice to assist clients in selecting the right mortgage product. Our experts evaluate your finances, property objectives, and market conditions to find the most suitable mortgage options for you. This ensures you make a well-informed decision.
How does ScaleMortgage support clients throughout the mortgage process?
ScaleMortgage provides comprehensive support throughout the mortgage process, from initial consultation to closing. This includes assistance in preparing your application, navigating financial assessments, understanding your options, and finalising your mortgage. Our dedicated team ensures a smooth and efficient experience, addressing any questions or concerns along the way.
What happens if my mortgage application is rejected?
If your mortgage application is denied, ScaleMortgage will help you understand why and look at other options. This could mean reviewing your finances, looking at different loan types, or fixing any issues that caused the denial. Our aim is to assist you in finding a way to get a mortgage.
After Service
Does ScaleMortgage offer ongoing support after I secure my mortgage?
ScaleMortgage offers ongoing support after you get your mortgage. We help with managing your mortgage, refinancing in the future, and any questions or concerns you have. We are committed to helping you throughout the life of your mortgage, not just at closing.
What should I do if I encounter financial difficulties and struggle to make mortgage payments?
If you encounter financial difficulties, it’s important to contact ScaleMortgage as soon as possible. We can explore options such as loan modification, refinancing, or payment plans to help manage your situation. Acting early can provide more solutions and potentially prevent more serious consequences like default or foreclosure. Our team is here to support you through challenging times with advice and solutions tailored to your circumstances.
Advanced and Investor Specific FAQ
How does ScaleMortgage cater to the needs of property investors?
ScaleMortgage caters to property investors by offering specialised investment loans designed for investment properties, including residential and commercial investments. We customise our credit services to fit the specific needs of investors, whether they’re buying their first property or growing their portfolio.
Can ScaleMortgage assist with commercial mortgages or investment property loans?
ScaleMortgage can help with commercial mortgages and investment property loans. We work with many lenders who focus on financing for commercial properties and investment homes. This means you can get good rates and terms that match your investment goals and financial situation.
What strategies does ScaleMortgage recommend for property investment financing?
ScaleMortgage recommends several strategies for property investment financing, including leveraging equity from existing properties, choosing the right loan structure (e.g., interest only vs. principal and interest), and utilising fixed-rate or variable-rate loans based on market conditions.
We also assist with optimising loan-to-value ratios, tailoring the financing approach to align with your investment strategy and goals is key to maximising the effectiveness of your property investments.
Technology and Security
How does ScaleMortgage use technology to streamline the mortgage application process?
ScaleMortgage leverages advanced technology to streamline the mortgage application process, making it more efficient and user-friendly. This means applying online, submitting documents, and get ting approval for loans faster. It also involves secure online platforms for easy communication and sharing of documents. These tools make the mortgage process quicker and easier for clients.
What measures does ScaleMortgage take to ensure the security and privacy of my information?
ScaleMortgage works hard to keep client information safe and private. We use advanced encryption technology for sending data, secure storage for personal and financial information, and strict access controls. We follow all privacy laws to protect client data. Regular security checks and updates to our systems make sure your information stays safe and confidential when you work with ScaleMortgage.
Updates and Policies
How does ScaleMortgage stay updated with changing mortgage laws and regulations?
ScaleMortgage keeps up with mortgage laws by monitoring legislative changes, industry news, and participating in mortgage associations. Our team stays updated through ongoing training to understand the latest regulations. This proactive approach ensures that our advice and services are accurate, current, and in the best interest of our clients.
Can ScaleMortgage help me understand how changes in the economy affect my mortgage options?
Yes, ScaleMortgage can help you understand how economic changes affect your mortgage options. Our experts analyse economic trends, interest rate movements, and market dynamics to provide informed advice on how these factors may impact mortgage rates, loan availability, and the best timing for applying for a mortgage or refinancing.
We aim to empower clients with the knowledge to make strategic decisions about their mortgages in response to economic conditions.