Many borrowers I work with don’t have a clear picture of the upfront costs they may be up for when taking out a home loan.
As well as loan application fees, there are settlement fees, stamp duty, mortgage insurance and more.
Some of these can be added to the loan amount, but sometimes doing this can push you into a higher mortgage insurance bracket, resulting in even more fees!
Knowing your fees is the first step, knowing how to manage them is the next.
Have a look at my quick guide to knowing your costs: https://www.mortgageaustralia.com.au/email/files/borrowingcosts.pdf