Frequently Asked Questions
Find answers to the most common questions about home loans, refinancing, and property investment.
What is the minimum deposit required for a home loan?
Most lenders require a deposit between 5% and 20% of the property’s purchase price. While a 20% deposit may help you avoid Lenders Mortgage Insurance (LMI), many eligible buyers can secure a home loan with as little as a 5% deposit.
Am I eligible for the First Home Owner Grant (FHOG)?
Eligibility depends on your state or territory, the value of the property, and whether you’re purchasing or building your first home. Our mortgage specialists can help you determine which government grants and incentives you qualify for.
How much can I borrow for my first home?
Your borrowing capacity depends on factors such as your income, expenses, existing debts, credit history, and deposit amount. We assess your financial situation and help you understand how much you can comfortably borrow.
What documents do I need to apply for a home loan?
Generally, you’ll need proof of identity, recent payslips, bank statements, tax returns (if self-employed), employment details, and information about your savings and existing financial commitments.
How long does home loan approval take?
Pre-approval can often be arranged within a few business days, while final approval usually takes between 5 and 10 business days, depending on the lender and how quickly the required documents are provided.
What is home loan pre-approval?
Pre-approval gives you an estimate of how much you may be able to borrow before purchasing a property. It helps you shop with confidence and shows sellers that you’re a serious buyer.
How many times do I have to tell you a few ways?
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What other services are you compatible with?
Progressively generate synergistic total linkage through cross-media intellectual capital. Enthusiastically parallel task team building e-tailers without standards compliant initiatives.
I have a technical problem I need resolved, who do I email?
Progressively generate synergistic total linkage through cross-media intellectual capital. Enthusiastically parallel task team building e-tailers without standards compliant initiatives.
How many times do I have to tell you a few ways?
Progressively generate synergistic total linkage through cross-media intellectual capital. Enthusiastically parallel task team building e-tailers without standards compliant initiatives.
What other services are you compatible with?
Progressively generate synergistic total linkage through cross-media intellectual capital. Enthusiastically parallel task team building e-tailers without standards compliant initiatives.
Should I refinance my home loan?
Refinancing may help you secure a lower interest rate, reduce your monthly repayments, consolidate debts, or access equity in your property. We compare multiple lenders to find the right solution for your needs.
Can I reduce my monthly home loan repayments?
Yes. Lower repayments may be possible by refinancing to a better interest rate, extending your loan term, or selecting a loan that better suits your financial goals.
How much equity do I have in my home?
Home equity is the difference between your property’s current market value and your remaining loan balance. Equity can often be used to finance renovations, investments, or other major expenses.
Can I switch lenders easily?
Yes. Switching lenders is a straightforward process when managed correctly. We handle the paperwork and coordinate with your new lender to make the transition as smooth as possible.
Are there any costs involved in refinancing?
Some loans may include discharge fees, valuation fees, or government charges. We explain all potential costs upfront and help determine whether refinancing will provide long-term savings.
Can I make extra repayments on my home loan?
Many home loans allow additional repayments, helping you reduce your loan balance faster and save on interest. The available features depend on your chosen lender and loan type.
What is an investment property loan?
An investment property loan is designed for purchasing residential or commercial properties that generate rental income or long-term capital growth. Loan features vary depending on your investment strategy.
Can rental income increase my borrowing capacity?
Yes. Many lenders consider expected rental income when assessing your loan application, which may increase the amount you’re eligible to borrow.
What is the difference between interest-only and principal & interest loans?
Interest-only loans require repayments on the interest for a set period, while principal and interest loans reduce both the loan balance and interest over time. We can help you determine which option aligns with your investment goals.
Can I use the equity in my home to buy an investment property?
Yes. Many investors use the available equity in their existing home as a deposit for an investment property, reducing the need for additional savings.
How many investment properties can I finance?
The number of investment properties you can finance depends on your income, equity, borrowing capacity, and lender policies. We help structure your loans to support your long-term investment strategy.
Which loan is best for property investors?
The best loan depends on your financial objectives, investment plans, cash flow requirements, and tax considerations. We compare a wide range of lenders to recommend a loan tailored to your circumstances.
Need Expert Mortgage Advice?
Our experienced mortgage specialists are ready to help you find the right home loan, refinance your existing mortgage, or finance your next investment property.