Guides
Home loan guides
Straight answers to the questions people ask before they buy, build or refinance.
What does a mortgage broker do, and how are they paid?
A mortgage broker compares home loans from many lenders, recommends one that suits you and manages the application. How brokers work and how they are paid.
How much can I borrow for a home loan?
How lenders work out your borrowing power: income, expenses, debts, the serviceability buffer and credit card limits. Plus ways to borrow more responsibly.
How much deposit do I need to buy a home?
Do you need 20% to buy a home? How deposits, LMI, the 5% Deposit Scheme and guarantor loans work, plus the upfront costs to budget for.
What grants and schemes can NSW first home buyers get?
NSW first home buyer help explained: stamp duty exemptions up to $800,000, the $10,000 First Home Owner Grant for new homes, and the 5% Deposit Scheme.
Should I refinance my home loan?
When refinancing saves money and when it doesn't. How to compare your rate, work out switching costs and the break-even point, and what to ask your bank first.
Fixed or variable home loan: which is better?
The trade-offs between fixed and variable home loans: certainty, flexibility, offset accounts, break costs and why many borrowers split their loan.
What documents do I need for a home loan application?
A checklist of documents lenders ask for: ID, payslips, tax returns for the self-employed, bank statements, savings history and details of existing debts.
What is lenders mortgage insurance (LMI) and how can I avoid it?
Lenders mortgage insurance explained: when you pay LMI, what affects the cost, whether it is refundable, and five ways to avoid it with a small deposit.
What is home loan pre-approval and how long does it last?
What home loan pre-approval means, how long it lasts, whether it affects your credit score, and what can still stop a final approval.
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