Frequently Asked Questions

  • A mortgage broker helps you find and apply for the most suitable home loan by comparing multiple lenders and handling the paperwork on your behalf.

  • A mortgage broker gives you access to a broader range of lenders and can often negotiate better rates than a single bank. They also provide tailored advice based on your financial goals.

  • Most lenders require a 20% deposit, but you may be able to buy with as little as 5% with Lenders Mortgage Insurance or through schemes like the First Home Guarantee.

  • LMI is a one-off insurance premium paid when you borrow more than 80% of a property’s value. It protects the lender, not the borrower, in case of default.

  • Yes, LMI can be waived if you qualify for government schemes, have a guarantor, or work in a high-income profession like medicine, law, or accounting.

  • Pre-approval involves submitting financial documents to a lender or broker who assesses your borrowing power and confirms how much you can spend.

  • Pre-approval is an initial estimate of your borrowing capacity. Unconditional approval means the lender has assessed your application and formally approved your loan.

  • Yes, eligible first home buyers in NSW may receive full or partial stamp duty exemptions on homes valued up to $800,000 under the First Home Buyer Assistance Scheme.

  • NSW residents may access the First Home Buyer Assistance Scheme, the First Home Guarantee, and the First Home Owner Grant (New Homes) depending on the property type and value.

  • Refinancing involves switching your current loan to a new lender or loan product, often to get a lower interest rate, access equity, or consolidate debts.

  • You can use equity to renovate, invest in property, or consolidate debt. Equity release allows you to borrow against the value you’ve built in your home.

  • Yes. Lenders offer self-employed and low-doc loans that use tax returns, BAS statements, or accountant declarations to assess your income.

  • A guarantor loan allows a family member to use their property as security, helping you buy with a smaller deposit and possibly avoiding LMI.

  • Yes. Australian citizens living abroad can apply for expat home loans with certain lenders who accept foreign income and international documentation.

  • It depends on your goals. Fixed rates offer certainty, while variable rates provide more flexibility. Many borrowers choose a split loan for both benefits.

  • Your borrowing power depends on your income, expenses, debts, deposit size, and the lender’s criteria. A broker can calculate your maximum capacity.

  • A low-doc loan is designed for self-employed borrowers who may not have traditional income documents. Lenders assess income using BAS or bank statements.

  • Yes, through an SMSF loan, you can invest in residential or commercial property using your super, under strict ATO rules and a limited recourse structure.

  • Commercial loans can fund the purchase or development of business premises such as offices, shops, warehouses, or medical centres.

  • Most mortgage brokers in Australia do not charge clients a fee. We’re paid by the lender after settlement and always act in your best interest.