1. What does a mortgage broker do?
A mortgage broker helps you compare home loans from multiple lenders, finds the most competitive interest rates, and manages your loan application from start to settlement. We assess your borrowing capacity, recommend loan structures, and negotiate directly with banks and lenders on your behalf.
2. Is it better to use a mortgage broker or go to a bank?
Most Australians choose a mortgage broker because we compare dozens of lenders, not just one bank. This means:
- Access to more competitive home loan interest rates
- Better approval chances
- Tailored loan recommendations
- Faster, smoother home loan approvals
Using a mortgage broker can result in lower repayments, better loan features and a home loan that suits your long-term goals.
3. Do mortgage brokers charge fees?
For standard home loans, our mortgage broking service is free. We are paid by the lender once your home loan settles. If a fee ever applies (usually for highly complex or specialised lending), we will always disclose it upfront.
4. What documents do I need for a home loan?
To apply for a home loan in Australia, lenders typically require:
- 100 points of ID
- Recent payslips or income verification
- Bank statements showing savings and spending
- Statements for credit cards and personal loans
- Tax returns (for self-employed borrowers)
- A completed living expenses assessment
These documents help lenders calculate your borrowing capacity and confirm you meet their home loan approval criteria.
5. How much can I borrow for a home loan?
Your borrowing capacity depends on:
- Income and employment stability
- Current loans and credit card limits
- Living expenses
- Deposit size
- Credit score and financial history
- Lender policy
We compare your borrowing power across multiple lenders to find who can offer you the highest borrowing capacity and the best home loan interest rate.
6. How much deposit do I need to buy a house
Common deposit requirements:
- 20% deposit – no LMI
- 10% deposit – LMI applies
- 5% deposit – available with many lenders
- 2% deposit – possible under the First Home Guarantee Scheme
Using a mortgage broker can help you identify the best lender for your deposit size and borrowing goals.
7. Can I get a home loan with a low deposit?
Yes — many lenders offer low deposit home loans with just 5% down. Some first home buyers may qualify for a 2% deposit through government schemes like the First Home Guarantee or Family Home Guarantee.
We help you find lenders who accept smaller deposits while still offering competitive rates.
8. What is Lenders Mortgage Insurance (LMI)?
LMI is charged when you borrow more than 80% of a property’s value. It protects the lender, not the borrower. LMI can be:
- Paid upfront
- Added to the loan (capitalised)
We compare lenders to help you minimise LMI costs or potentially avoid it with the right structure or government scheme.
9. How do home loan interest rates work?
Home loan rates in Australia depend on:
- The RBA cash rate
- Lender pricing and funding costs
- Whether your loan is fixed or variable
- Your loan-to-value ratio (LVR)
- Your credit profile and income
As mortgage brokers, we compare interest rates daily to find you the lowest rate available for your situation.
10. Should I choose a fixed rate or variable rate home loan?
- Fixed rates offer repayment certainty and stability.
- Variable rates offer flexibility, offset accounts and extra repayments.
- Many borrowers choose a split loan: part fixed, part variable.
We help you compare fixed vs variable rates based on your budget, plans and market conditions.
11. When should I refinance my home loan?
You should consider refinancing if:
- Your current interest rate starts with a 5 or 6
- Your home loan hasn’t been reviewed in 12–24 months
- You want to access home equity
- You want to consolidate debts
- You’re planning renovations
- Your bank won’t budge on lowering your rate
Refinancing can reduce your repayments and save thousands over the life of your loan.
12. How does refinancing work in Australia?
Refinancing means switching your current mortgage to a new lender or a new product. The benefits include:
- Lower interest rates
- Reduced monthly repayments
- Better loan features (offset account, redraw, etc.)
- Access to home equity
We handle the entire refinance process from comparison to settlement.
13. What is home equity and how can I use it?
Home equity is the difference between your property’s value and your home loan balance. You can use equity to:
- Buy an investment property
- Renovate your home
- Consolidate high-interest debts
- Refinance to a better loan
We calculate your usable equity and structure your lending safely and strategically.
14. Can I get a home loan with bad credit?
Yes — there are lenders who specialise in bad credit home loans, including borrowers with:
- Defaults
- Late payments
- Debt agreements
- Bankruptcy (discharged)
- ATO debt
- Irregular income
A mortgage broker can help you find the right lender and improve your long-term lending options.
15. What is a pre-approval and do I need one?
A pre-approval confirms how much you can borrow before you start house hunting.
Benefits:
- Helps you avoid homes outside your budget
- Strengthens your offer when buying
- Gives you confidence at auctions
- Speeds up the approval process
Most first home buyers and investors start with a pre-approval.
16. How long does home loan approval take?
Timeframes vary by lender:
- Pre-approval: 1–5 business days
- Full approval: 5–14 business days
- Refinance settlement: usually 2–4 weeks
We match you with lenders that meet your timeline.
17. How does a construction loan work?
Construction loans release funds in stages as your builder completes each part of the build.
We help with:
- Progress payments
- Valuations
- Loan structure
- Contracts & costings
This ensures a smooth building process.
18. What costs are involved in buying a home?
Typical buying costs include:
- Stamp duty
- Conveyancing
- Lenders Mortgage Insurance (LMI)
- Building & pest inspections
- Moving costs
- Government fees
We provide a full, personalised cost breakdown so there are no surprises.
19. What government grants can first home buyers access?
First home buyers may be eligible for:
- First Home Owners Grant (FHOG)
- First Home Guarantee (HGS)
- Regional First Home Buyer Guarantee
- Family Home Guarantee
- Stamp duty concessions
We check your eligibility and help you apply.
20. Why should I use you as my mortgage broker?
We offer:
- Access to multiple banks and lenders
- Competitive interest rate comparison
- Expert guidance from pre-approval to settlement
- Tailored strategies for first home buyers, refinancers and investors
- A stress-free, supportive experience
Our goal is to help you secure the right home loan — with confidence, clarity and long-term financial success.