FAQ

Frequently Asked Questions

Are there any special mortgage programs for first-time homebuyers?

Yes, some programs cater specifically to first-time homebuyers, offering benefits like lower down payments and reduced interest rates.

Can I make extra payments or pay off my mortgage early without penalties?

Many mortgages allow for prepayment without penalties. However, it's essential to check the terms of your specific loan agreement.

How much money can I borrow for a mortgage?

The amount depends on factors like your income, credit history, and the policies of the lender.

Are there any hidden costs when using a mortgage broker?

We believe in transparency. Reputable brokers will clearly disclose all fees and costs.

Your credit score may decrease due to:

  • Missed payments
  • Loan defaults.
  • Debt Agreements
  • Bank ruptured
  • Credit Enquiries
  • Amount of Debt

Does getting a credit card in Australia improve what you can borrow to get a home loan?

No. The lender consider it as liability.

How do I choose between a fixed-rate and adjustable-rate mortgage (ARM)?

Your choice depends on factors like how long you plan to stay in the home and your risk tolerance. A fixed-rate mortgage offers stability, while an ARM (Adjustable-Rate Mortgage) may provide lower initial rates.

How do I choose between a fixed-rate and adjustable-rate mortgage (ARM)?

Your choice depends on factors like how long you plan to stay in the home and your risk tolerance. A fixed-rate mortgage offers stability, while an ARM (Adjustable-Rate Mortgage) may provide lower initial rates.

How does the down payment amount affect my mortgage terms?

A higher down payment often leads to lower monthly payments and may help you secure a more favorable interest rate. However, brokers can help you find options that suit your financial situation.

Is mortgage insurance always required, and how does it impact my payments?

Mortgage insurance is often required if your down payment is less than 20%. It adds to your monthly payments but protects the lender in case of default.

What documents do I need for a mortgage application?

Common documents include proof of income, tax returns, and details about your debts and assets.

Can I refinance my mortgage, and when is it a good idea to do so?

Yes, refinancing involves replacing your current mortgage with a new one. It can be beneficial if interest rates have dropped or if your financial situation has improved

How long does it take to get approved for a mortgage?

The process varies, but it typically takes a few weeks from application to approval.

What's the difference between fixed-rate and adjustable-rate mortgages?

A fixed-rate mortgage has a stable interest rate, while an adjustable-rate mortgage's rate can change.

Can I get pre-approved for a mortgage through a broker?

Yes! Mortgage brokers can help you secure pre-approval, showing you're eligible for a loan.

Why having a pre-approved loan has better chance of getting the property?


  • You know your borrowing capacity.
  • Your offer may look stronger to the agent.

Your credit score may decrease due to:

  • Missed payments.
  • Loan defaults.
  • Debt Agreements.
  • Bank ruptured.
  • Credit Enquiries.
  • Amount of Debt.

What is the difference between pre-qualification and pre-approval, and which should I seek first?

Pre-qualification is an informal estimate, while pre-approval is a more thorough assessment. It's generally advisable to seek pre-approval for a more accurate picture of your borrowing capacity.

How can a mortgage broker help me?

A mortgage broker is like a matchmaker, connecting you with lenders to find a mortgage that suits your needs.

Does my credit score matter when working with a mortgage broker?

Your credit score matters, but don't worry if it's not perfect. Mortgage brokers assist clients with various credit profiles

Can a mortgage broker assist with bad credit?

Absolutely! Some brokers specialize in helping clients with less-than-ideal credit.

How does a mortgage broker get paid

Mortgage brokers usually get paid through commissions from lenders and sometimes fees from borrowers.

What types of mortgage services do you offer?

We offer a range of mortgage options, including but not limited to 
  • Home & Investment Loan
  • Construction Loan
  • Debt Consolidation
  • Business Set-up and Finance
  • Motor or Asset Finance & Leasing
  • Motor and Home Insurance

When someone says they prefer to deal with the bank directly instead of using a broker?

  • Brokers have access to different lenders/banks.
  • Do the hard work for you.
  • Communicate with your conveyancer and agent.
  • Look after you and is available even outside office hours.

Can a broker help me if I have a less-than-perfect credit history?

Yes, brokers work with a variety of lenders, including those who specialize in working with clients with less-than-ideal credit. They can help you find suitable options.

What are closing costs, and how can I estimate them?

Closing costs include various fees associated with finalizing the mortgage. Your broker can provide an estimate, typically ranging from 2% to 5% of the loan amount.

How does the broker guide me through the closing process, and what should I expect on closing day?

Your broker will assist with coordinating the closing process, ensuring all necessary documents are in order. On closing day, you'll sign the final paperwork and officially become the owner of the property.