Home loan questions, answered straight.

It depends on your income, expenses, existing debts and the lender. Try the borrowing power calculator for a rough figure, then book a call for a number a lender will stand behind.

Pre-approval is a lender's in-principle agreement to lend you up to a certain amount, subject to conditions. It lets you bid or make offers with confidence. It's worth having before you get serious about looking.

Yes. Lenders usually want to see your tax returns or, with some products, alternative income evidence. The right lender makes all the difference here, which is where a broker earns their keep.

Serviceability is a lender's test of whether you can comfortably afford the repayments. They look at your income, your living expenses, other debts, and a buffer rate above the actual rate to make sure you'd cope if rates rose. Different lenders assess it differently, so a no from one isn't a no from all. My borrowing power calculator gives you a rough starting point.

Your compulsory HECS or HELP repayment is treated as an ongoing commitment, so it reduces your borrowing capacity a little while the debt exists. How much it matters depends on your income and how close the balance is to being paid off. If you're near the end, clearing it can sometimes help. It's one of the things I check in my how much can I borrow guide.

Often yes, it just depends on the lender. Some accept casual income with a solid work history, some lend during probation if you've stayed in the same industry, and a number lend to eligible visa holders with conditions. The trick is matching you to a lender whose policy suits your situation, which is exactly what I'll help you do. Book a quick call and we'll work out your options.

Fixing gives you certainty for a set term but usually limits extra repayments and can carry break costs if you exit early. Variable moves with the market and tends to come with more flexibility, like offset and free extra repayments. Some people split the difference and do a bit of both. I weigh up the trade-offs in my fixed vs variable guide.

An offset is an everyday transaction account linked to your home loan. The balance sitting in it is subtracted from your loan balance before interest is worked out, so it reduces the interest you pay while keeping your cash available. Park your salary and savings there and it quietly works for you. I compare it with redraw in my offset vs redraw guide.

Both can cut your interest, but they work differently. Redraw lets you pull back extra repayments you've already made into the loan, while an offset keeps your money in a separate account that reduces the interest calculation. Offset usually gives you easier access and can have tax advantages for investors, though it sometimes carries a fee. See which suits you in my offset vs redraw guide.

A split loan divides your borrowing into two or more portions, commonly one fixed and one variable. You get some rate certainty on the fixed part and keep flexibility, like offset and extra repayments, on the variable part. It's a way to hedge your bets rather than committing fully to one or the other.

Pre-approval is a lender's in-principle agreement to lend up to a certain amount, subject to conditions, so you can shop with confidence. Unconditional (or formal) approval is the full green light on a specific property once the lender has assessed everything, including the valuation. You need unconditional approval before you're truly safe to be committed to a purchase.

It varies by lender and how complete your paperwork is. Pre-approval can sometimes come back within a few days, and unconditional approval on a property often follows within a week or two once the valuation is done. The biggest delays usually come from missing documents, so getting your file in order early speeds everything up. I'll manage the back and forth with the lender for you.

Typically photo ID, recent payslips and a tax return or two if you're self-employed, a few months of bank and savings statements, and details of any other debts like cards or car loans. If you're buying, the contract of sale comes in later. I'll give you a tailored checklist upfront so nothing holds up your application.

Settlement is the day the sale legally completes: the lender releases the loan funds, the balance is paid to the seller, and the property becomes yours. Your conveyancer or solicitor and the lender handle the mechanics, usually around six weeks after you exchange contracts in New South Wales. Once it's done, you get the keys.

Often less than you'd think. Many buyers get in with 5 to 10 percent, and some first home buyers with even less through government schemes. See the full picture in my deposit guide.

It's a one-off cost lenders charge when you borrow with a smaller deposit, usually below 20 percent. It protects the lender, not you. There are ways to reduce or avoid it, which I cover in my LMI guide.

A comparison rate rolls the interest rate together with most standard fees into a single percentage, so you can compare loans more fairly than by headline rate alone. It's based on a standard example loan, so it won't exactly match your amount or term, but it's a useful sense check. It doesn't capture every cost, which is why it pays to look at the full picture.

LVR is your loan amount as a percentage of the property's value. Borrow $600,000 on an $800,000 place and your LVR is 75 percent. It matters because a lower LVR usually means you avoid Lenders Mortgage Insurance and can access sharper pricing. I explain the deposit side of this in my deposit guide.

Genuine savings are funds you've built up and held yourself, usually over three months or more, rather than a sudden lump sum like a gift or a bonus. Lenders like to see them as evidence you can manage money when your deposit is on the smaller side. Not every lender requires them, and a gift can still work with the right lender, so it's worth talking through.

Beyond the deposit, budget for things like lender application or settlement fees, a valuation in some cases, government transfer and registration fees, conveyancing, and stamp duty where it applies. If your deposit is under 20 percent, Lenders Mortgage Insurance can be a big one too. My stamp duty calculator helps you estimate one of the larger upfront costs.

Conveyancing (the legal work of transferring the property) commonly runs in the low four figures once you include the professional's fee plus search and disbursement costs, though it varies by firm and property. It's money well spent to have someone check the contract before you commit. I'm happy to point you toward conveyancers other clients have used.

It's not compulsory, but for an established home it's one of the smartest few hundred dollars you can spend. A good report can flag structural issues, damp, or termites before you're locked in, and it can even give you room to renegotiate. For a brand new build or off the plan, the considerations are different, so ask your conveyancer what's worth doing.

There are schemes that can help eligible first home buyers get in with a smaller deposit and reduce or remove stamp duty. The rules change, so check what applies to you. I break it down in my first home buyer schemes guide.

Often yes. A family guarantee lets someone, usually a parent, use equity in their property as extra security so you can borrow with a smaller deposit and potentially avoid Lenders Mortgage Insurance. It's a real commitment for the guarantor, so everyone needs to understand it properly. I'll walk you and your family through how it works and the risks, and you can see the deposit angle in my deposit guide.

Yes, buying together can get you into the market sooner by pooling deposits and income. Lenders assess you jointly, and it's worth getting clear in writing on who pays what and what happens if someone wants out. It's a common approach and I can talk you through the practical side, then help you get to a lender. Book a call to map it out.

If your loan is a couple of years old, your situation has improved, or you want to use equity, it's worth a look. The saving just needs to outweigh the switching costs. Start with my refinancing guide.

A single application leaves a normal enquiry, which is minor. The damage comes from applying to lots of lenders at once. I only submit to the lender that genuinely fits, so we avoid that.

A yearly health check is a good habit. Rates, your equity, and your own situation all move over time, and loyalty rarely gets rewarded with a sharper deal. A quick review might confirm you're fine, or it might surface a saving worth chasing. My refinancing guide covers what to look at.

Negative gearing is when the costs of holding an investment property, including loan interest, are higher than the rent it brings in, producing a loss that may be offset against your other income at tax time. The idea is that the property grows in value over time to make up for the shortfall. It's a tax outcome, not a strategy on its own, so get advice from your accountant on how it fits you. I can help with the loan structure in my investment loan guide.

Often yes. If your home has grown in value and your loan is well down, you may be able to release some of that equity to fund a deposit and costs on an investment, without touching your cash savings. How much you can access depends on your equity and serviceability. See how I approach it in my investment loan guide or read more on the investment property service page.

Interest-only keeps repayments lower for a set period by not paying down the principal, which some investors use to manage cash flow and for tax reasons. The trade-off is you pay more interest over the life of the loan and repayments jump when the interest-only period ends. Whether it suits you depends on your strategy and your accountant's advice, and I'll help structure the loan around it.

I compare home loans across a panel of more than 40 lenders, recommend the one that fits your situation, and manage the whole application from first chat to settlement. By law I have to act in your best interests.

In almost all cases, no. I'm paid a commission by the lender when your loan settles, so my help is generally free to you. If a situation is ever different, I'll tell you upfront.

Your bank can only offer you its own products. I compare loans across a panel of more than 40 lenders, so instead of one answer you get options, and I handle the paperwork and chase the lender for you. Because I'm legally required to act in your best interests, the recommendation is built around your situation, not a single bank's shelf. You can read more about how I work.