Frequently asked questions

No. Homestead is a mortgage broker. We compare loans from banks and non-bank lenders and help you apply. The loan itself is provided by the lender you choose.

Nothing, in almost all cases. Lenders pay us a commission when your loan settles. We tell you how we are paid, and if any fee were to apply, before you proceed.

You. Mortgage brokers have a legal duty to act in your best interests and to put your interests ahead of their own when there is a conflict.

Usually not. The rates you see through a broker are generally the same as going direct, and we can compare several lenders at once and ask your current bank to sharpen its offer.

We work with a range of major banks, regional banks and non-bank lenders. Ask us for the current list and we'll tell you which suit your situation.

Often 5% to 20%. Under 20% usually means lenders mortgage insurance, unless you qualify for the 5% Deposit Scheme, use a guarantor or have a professional LMI waiver. See our deposit guide for details.

It depends on your income, living expenses, debts and the rate lenders test you at. Try our borrowing power calculator for an estimate, then we can check it against real lender policies.

A lender's conditional indication of how much it will lend you. It is not a guarantee, but it sets your budget and helps you bid with confidence.

Yes. We check your eligibility for the NSW stamp duty exemption and concession, the First Home Owner Grant and the 5% Deposit Scheme as part of every first home buyer conversation.

No. An enquiry with us is not a credit application. A credit check only happens when you decide to apply with a lender, and we explain that step before it happens.

Usually ID, recent payslips (or tax returns if self-employed), three months of bank statements, and statements for any existing debts. See our documents checklist guide.

Pre-approval can take a few days to a couple of weeks depending on the lender. Having your documents ready speeds things up, and we tell you exactly what is needed.

Yes. Some lenders assess self-employed income more fairly than others, and some accept alternative documents. We know which lenders suit your situation.

Often, yes. Some lenders specialise in borrowers with past credit issues, usually at a higher rate. Be upfront with us and we'll tell you honestly what's realistic.

Send us an enquiry or call us. We'll have a short chat about your goals and finances, then explain your options and next steps. No cost and no obligation.