Frequently Asked Questions

Considering a home loan?

What is a mortgage broker?

What does a mortgage broker do?

Is it better to rent or buy?

What is a mortgage?

Will I still be able to apply for a home loan if I’m self employed/a contractor/subcontractor?

Buying off-the plan

Should I buy an established house? Or build?

Should I get a home loan pre-approval?

Saving for a deposit?

How much deposit do I need?

How much can I borrow?

What is my borrowing power? And, what affects my borrowing power?

What can be used towards a deposit?

What are the types of home loans?

What is a fixed-rate home loan?

What is a variable-rate home loan?

Is fixed or variable better?

What is a split loan?

What is an interest-only loan?

Who can be a guarantor?

Other features

What is negative gearing?

What is a redraw facility?

What is an offset account?

What is a line of credit?

Finance savvy

How do I apply for a home loan?

What is stamp duty?

What are break costs?

What is lenders’ mortgage insurance (LMI)?

*Resource: canstar.com.au