Frequently Asked Questions re Mortgage Broking

How much can I borrow?

Every lender has different criteria to determine how much you can borrow.
As a general guide use our borrowing power calculator.
We are more than happy to assist you with a more detailed response based on your individual circumstances and needs.

How much deposit do I need?

The minimum deposit you will need to have saved will be 5% of the purchase price plus outgoings such as legal expenses, stamp duty, building and pests inspections, and moving costs.

How much will my repayment be?

Go to our loan repayment calculator to estimate the likely monthly repayment or contact us for assistance.

What type of loan is best suited to me?

The Type of loan to best suit your needs will depend on your requirements. Contact us for assistance.

What is lenders mortgage insurance?

Generally speaking if your deposit is less than 20% of the loan amount you will be required to pay lenders mortgage insurance. Most banks will allow you to borrow the one-off premium against your home loan. It is important to note that this insurance protects the bank in the event of a default and generally is not refundable.

Are there any government subsidies or assistance available?

If this is your first home and you intend to live in you may be eligible to claim the first home owners grant. The amount of subsidy in each state and territory is different. In Queensland first home owners may be exempt from stamp duty and you could be eligible for a maximum cash assistance of up to $15,000 on new constructions. Your broker will assist you completing the application form.