Our Fees
Babo Finance mortgage broking service is usually a free service as we are paid commission from the lender for our work on your loan. However, we do need to charge a fee for some of our services as indicated below.
Loans over
$250,000
NO FEE*
*Commission paid by lender. Terms and conditions apply and your Babo Finance broker will discuss this with you upfront.
Loans less than
$250,000
$1,100
Pre-Approvals (any amount)
$250
For pre-approval applications we require a fee to be paid prior to loan submission to cover our loan administration cost.
Finance involving lawyers or legal action
$1,650
For applications where ATO debt refinances are involved, or family law issues are applicable, our service fee is collected prior to loan submission.
Non-Conforming Loans
POA
For applications that do not meet traditional lending policy and guidelines such as: specialty lenders, applicants with an impaired credit history/very low credit score, ex-bankrupts, alternative verification of income for self-employed applicants such as “Alt Doc” or “Lite Doc” loans this fee is payable upon loan submission.
Trust/Company finance applications
$990
For applications/properties that are in the name of a company/trust structure there is added complexity and demands. There is a lot more of administration in the backend to process these loans through to settlement and beyond. As such we have had to apply this fee which is only payable if the loan is approved.
SMSF Deals
POA
Self Managed Super Funds: payable upon loan submission
Commercial Loans
POA
Some lenders pay us brokerage commission whilst others require that we charge our client a fee. Your Babo Finance broker will discuss this with you upfront.
Prices are in Australian Dollars and include GST. Correct as at March 2024 and subject to change without notice.
Sterling Financial Group Pty Ltd is a Credit Represenative (494207) of QED Credit Services Pty Ltd (Australian Credit Licence Number 387856)
Contact Us
- admin@babofinance.com.au
- (03) 9466 0250
- 0447 750 412
- Level 1, 12 Cramer Street, Preston VIC 3072
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