These answers are general information only. Every situation is different, so talk to us before making a decision.
Frequently asked questions
Do I pay a fee to use a mortgage broker?
For standard home loans there is usually no fee. The lender pays the broker a commission, which is disclosed in our Credit Guide. If a fee ever applies (for example on some commercial loans), we tell you in writing upfront.
Why use a broker instead of going straight to my bank?
A bank can only offer its own products. A broker compares many lenders, knows their policies (for example how they treat overtime, self-employed income or apartments) and manages the application for you.
How much can I borrow?
It depends on your income, expenses, debts, dependants and the lender's serviceability buffer. Try our borrowing power calculator, then talk to us for an accurate figure across lenders.
How much deposit do I need?
Eligible first home buyers may buy with 5% through the government 5% Deposit Scheme without LMI. Otherwise most lenders lend up to 90–95% with LMI, or 80% without it.
What is Lenders Mortgage Insurance (LMI)?
LMI protects the lender (not you) if you borrow more than 80% of the property value. It can be added to the loan, and some professions and government schemes can avoid it.
What is pre-approval and do I need it?
Pre-approval is a lender's conditional agreement to lend up to a set amount. It lets you bid with confidence and usually lasts 90 days.
Fixed or variable — which is better?
Variable gives flexibility (offset, extra repayments), while fixed gives certainty. Many borrowers split the loan. We'll model both for your situation.
What is an offset account?
A transaction account linked to your loan. The balance reduces the interest charged, so savings sitting there effectively earn your loan rate, tax-free.
Can you help if I'm self-employed?
Yes. Many lenders accept two years of tax returns, some accept one, and specialist lenders offer alternative documentation options.
Do you help clients outside Sydney?
Yes. We're based in Rouse Hill, Sydney, and help clients Australia-wide, including Melbourne, Brisbane, the Gold Coast and regional areas, by phone and video.
How long does a home loan take to approve?
Pre-approval can take a few days to two weeks depending on the lender. Formal approval follows once a property is valued, and refinances typically take 2–4 weeks in total.
What documents will I need?
Usually ID, recent payslips (or tax returns if self-employed), bank statements, details of debts and assets. We send a secure online form so you can upload everything in one place.